Chartty Registration No. NIC 105711 Company Reglstratlon No. N1027446 (Northern Irelandl THE BYTES PROJECT DIRECTORS, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 THE BYfES PROJECT CONTENTS Pa99 Charity reference Bnd adminislralive details Dir8clor5' Rgport Indop8ndent audSlor's r8POrt 8. 11 Statement of financial activities lincorporaiing the Income and Expenditure Account) 12 Balance sheet Statement of c9sh flows 14 Not#$ lo thè financial 5t8temenls 15.23 THE BYfES PROJECT (CHARITABLE COMPANY LIMITED BY GUARANTEE) CHARITABLE REFERENCE AND ADMINISTRATIVE DETAILS Dlrg¢tor5 Ben Carter (Chairl Andrea McLoughlin (Vice-chairl Ed Axon Ciaran Connolly Neil Cook8 Andrew Hamilton Stephen Murray (Treasurer) Jlll Alcken IAppc>lnied 1 Septcmber 20231 Company secretary St8phon Dallas Chlef •x•¢ullv• offl¢•r St8ph8n Dallas Charlty numb•r NIC 105711 Company number N1027446 R•glstored wSth Thg Charlty Commlsslon NIC105711 for North•m Ir•land Reglstered offlce and prlnclpal offlc• 300.302 AnlrSm Road Newlownabbey Northern Ireland BT36 SEG Independent Audbtor Johnston Kennedy DFK Chart#red Accountants Regist8r8d Audrtors 10 Pilot5 View Heron Road B*llast BT3 9LE Bankers Bank of Irèland Belfast Ciiy Branch 4- 8 High Str•trl Belfast BT12BA THE BYfES PROJECT DIRECTORS. REPORT FOR THE YEAR ENDED 31 MARCH 2024 Th8 Irust88s, who are dir8clor5 for the purpose of company law, present Iheir annual repth logeth8r with lh8 audited financial stalernenls of the ¢h8rity for the year ended 31 March 2024. The Iruslees have adopted the provisions of the Slatement of Recommènded Piaclice ISORPI"Accounling and R¥porting by Charities" IFRS 1021 in preparin9 ¢ho annual report and financial stat8men15 af the charty. Dlrectors The lollowiro directors have held office since 1 April 2023 (unless 5taledl. 8en Carter (Chairl Andrea M¢Loughlin IVi¢e-chairl Ed Axc)n Aimee Clint C¥iaf%ln Connolly Neil Cooke Andrew Hamilton Stephen Murray ITr•asur8rl Ross Thompson Jlll Alcken {Resign8d 16 May 20231 {Resign8d 23 January 20241 {Appolnted 1 September 20231 Dlr•etor8' Int•r•stg Non8 of tha dirèctors of th8 company hold 8 bonefi'eial intergst in lh8 as$8ls of the company, Th&r6 wore no emolument8 paid lo directors during the current year. Directors did not clairn any 8xpens8s during the current year in their capacity as Directors. Chl8f Exgcutlvg Offlcor Since April 2021 the Chief Ex8Gulive Officer, known a8 the Chief Executive Officer and Cornpany Secretary, ha5 been Stephen Dallas. Structurol gov8manu and managom8nt The By185 Projecl 15 3 youth work Gharity that ha5 been ivorking wilh the most vulnerable young peoplg in Northern Ireland. We were eslabli5hed in April 1993, when a small group of ￿Ople designed an inmvalive concept for Belfast, based on 8xp8rianc8 in an innorn wlth key r89lono1 partner8, w& wanted to evolve lh8 dlgltol platfomi to capture the needs of young people through agreed themes and questions with sliu¢tured questions. incorpor8ling sc81es and one qualitalivg response. and develop a function lor organisalions lo leave detailed feedback. In September 2023. the Paul Harnlyn Foundation pporled a bid from 8iles, YMCA Ireland. Boys and Girls Clubs and Youth Initiative to undertake a ijndamenlal review of our digilol plallorm, including a rgbrond lo Voic*s lor Impo¢1. We h8vg boen working lo dgvglop thg sile lo¢using on using th8 UN SLiSt&)inable Dev8lopm8nt Goals We planning to r8laLinch lh8 silg in latg 2024. Youth Empalhy This year. wè delivered eight Jood relations pro9ramme8 8cro$s our Youth Huby, Thes8 were significant projects spanning thrtra to elght months. èngaging over 250 young p*opl# and worklng with Six community.basèd organisations. Young ￿0p1* *stabligh*d n*w rèlationships, Èxplorèd good rèlallonships, l*arnèd together, and b*eam8 involvéd in goclal eetlvitles. Thi5 year, we a150 SUPPOrted Hillcroft Special Schools in using our Glen9ormley Youth Hub to help their Year 12 students develop their independpnl living skills. Youth Employm•nt •nd Dlgltal We were part of a successful consortium bid to the UK Shared Prosperity Fund for an employrnent support wogramme ozlled Youltri Slart. The key 51ali5tic5 from April 2023 to MarGh 2024 inGlude'. - 82 young people engaged with support setvices. - 78 SLJPPOrted in job searching. 71 engaged In lrfe skills progr8mmes. 52 galned new quallfl¢aiions. - 68 returned to ¥ducalDn. - 29 participated in work experien￿ programmes. 33 found employmen( with 22 sustaining it br six months. Feedback frorn parb'cipants., THE BYfES PROJECT DIRECTORS. REPORT {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 "Gemrna helped me get into barbering. It wa5 too late to register for the course and I nearly gave up before l even started. Bul Gernrn8 didnl let me quit she was right there with me, every slep of the way. She even came wilh rne to t81k to tre urse diréctor lo plèad my case. 8xplaining v4hy I should ba all0￿ed lo join d8SPit& the late start. And when my anxialy tr18d to get th8 b81t8r of tne. G8tnma walked with m8 to my fir51 few classes. H8r 8upport rnad8 all Ihe diff8r8nce.' il gave me the Courage to pursue the career I really want." 'When Byte5 helped tnp land a new job at E&1 engineering, I wa5 buzzin9, but I hit a snag With geUin9 Out there and not having sleel ioecap boo15. The staff at Byte5 50rted me oul with tsxis and even got MB a pair of boots so I wuld start tre lob. This gol me sortad for thè first few weeks unlil I IoLnd a workrnata who passèd by my placa and could glve ma a Ilft. Without this help, I wouldnl have nad8 it onlo Ihe shop lloc>r on th8 first day. It was a r8al lif8sav8r." Dloltal Our digital team has been driving innovath'on and ef Iciency wilhin our organisation. Over the past year. we have undèrtakan sevèral key Snlllalives to enhance o¢Jr digltal Infraslruclur8 and Improva sarvlca dallvèry. Our dl9hal and IT arliviligs have significantly glrgnglhgngd our capabilities, positioning u5 for conbnue¢J succ?ss and 9rtswlh. During this poriod. we a9r¢¢d lo work ttWord5 18027001 Data Man49?m¢nl. with the firyot &l¢ps b¢in9 Cyb¢r Es&¢nlial• and Cybtrr Ess$nlials Plus ¢grtili¢¥tions, to enhan¢& our ¢yborse¢urily. Additionally, we hav¢ und9rtok¥n a significant project to digilise our 8s5el register, ensuring that all our 8quipmenl and re50urce8 are 8Gcuralely tracked and man8ged. W8 have also delivered 3 rana8 of digital proj8Cts' Gaming.. The dèvelopment ol our gamSng proorarnme ltt youth clubs h8$ been a ¢0118borallve gffort, startlng wth ¢reailng 8 gamlng ¢urri¢ulum and se¢uring lunding from The Educatlon Aulhorily. This allowed us lo equip b¢81 youlh Clubs with Slale-of-Ihe-aM gaming devic6$ and provide Irainin9 sessions for youth workers, The program has enhan¢ed social Skills, increased engagement, and Iranslerr8d critical thinking skills lo oiher areas of lrfe. Participants toc*k on leadership roles, f05tering a sense of reSPDnsibility and confidencè. The prograrn also strengthened commLJnity bonds within Ihe clubs and increased parènl81 involvement. Onllng Youth Work,. Thg dgvglopm9nl of our onllntr youth work progromrn9 lor youlh clubs ho$ Suc￿$S1￿11Y enhan¢9d digital gngagemgnl by addressing 8c¢gs¥ibilily, flgxibilily, and wg1-effg¢1ivene$$ while overcotning ¢hallenge$ like the digital divide and online safety. Training lor 24 youth workers Irorn 13 groups led to 81 pilol sessions, with positive feedback on the IrBmework and curriculum. The linalised Online Youth WO￿ Framework and Curriculum, developed in lar¢h 2024, effgclivgly bLJIII1gad8rshlp, d&¢Sslon-maklng, anrl digltsl Illera¢y $kl11s, resulllng In increasgd ¢onfid8ncg 8nd comtnunily involv8rnenl arnong participants. This inili81ive has Slandardised online delivery for the youth sector, supporting young people's holistic development in a digital world. PA Foundation., The digital upskilling programme. funded by The PA Foundation, is d85igned lo provide young people with the knowledgtr and skills needed lo Ihrivtr in IDday's digital worfd. Participants have learnvd about v8Jious digilal louls and technol(>gies Ihrough WDrkshops. hands-on training, and mentorship. The programme aims to bridge the digital divide and (xe8te opportunities lor young people lo ex¢el in their careers. Santander.. In 2023, we secured three years ol funding from the Sanlander Foundation to support our digital upskilling and leadership initiatives. One of the key achievemenls ol the programme this year has been 53 young participanis, Suc￿ssful complètion of thè Lav611 OCN in Onlinè Transactions. Th8 programmè's 8rnphasis on digital linanual litèracy èrnsu￿d al participants undersl<)od online transaction5, digital banking, and financial rnanagetnenl 10015 cornprehensively. THE BYfES PROJECT DIRECTORS. REPORT {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Future D•velpoments In Dlgltal W8 or8 working on three activitie$ for 2024-25.. LMS.. Our organisalion r8¢9nlly irnplernenled the LgarnDash LMS syslern, 8 slr8legiG inibalive aitned al pnhan¢ing digi181 literacy, streamlining Iraining processes, and irnproving overall efficiency. The LMS provides a digital platforrn lor delivering training and educational c4)nt£nt, ensuring ¢ortsistoncy and accessibility for all users. Implementing the LMS has broughl numorous b•nolhs, including hi9hèr l•arn•r gngagomonl and rgtgntion rateg. CRM.. Our or9anisation has baan idaaling a ￿SpOk4 Salaslorco CRM systèm in collaboration wlh Encludè. Tha system airns lo irrprove dalg Gaplur8 and rewrding and reduG8 adrninislralive workload lo 8nhance frontline service5 for thildren 8nd young people. We are currently awaiting fijnding support to develop our plan. Voic85 for Impact.. Wg will tnove fro￿ our old plaiforrn, Posltive Sparks. and return to the original concgpl ol Voices for lrnpaat. We will seek additional funding and embed les5on5 from thi5 proce5S. Achievements and perfomiance We workgd with over len lunders tris year and engaged over 1,000 young people. Sorne gx8rnple8'. UK Gov8rnm8nl'. Wo 8UPPOrt almost 1(X) young p8opI8 In acL8ssing 8rnploym8nl or tralnSng, Antrirn and Newlownabbey Council- we provid8d $8rvices engaging ov8r 500 young people. Good Rel8th'ons Programm86- Through various funders, we have engaged over 350 young people in these pioje¢ls. EA projects- Ilrough direct delivery or partnership, we delivered 11 EA specilicalion5. Thi5 required the weekly engagement ol over 300 young people. Organlsatlonal D•volopm&nt We SLipporied 20 people lincludin9 71 staff to complete 8n OCN Le¥el 2 in Youih Work. We •lso completed two stsff ¢evelopm&nl d8ys trxpbring.. 1. HR and Finance 2. Crlll¢al R$llg¢llon Fln•n¢lal revl*w The results are Sel out on pages 12 to 23. Thè Bytes Project relurnÈd net eXpÉndltu￿ for the year 01£17,24812023'. t126.042 income) which Compris￿ s n8t unra81ricted surplus of £10,989 and n81 rè$iritlthJ deficit ol t28.237. At the ye8r tsnd unresln¢led reserves arnounled lo £658,218 Of whieh £40,557 w8$ designated l¢)wards fixed assets leaving fret res8rves of £617,661. R8strfct8d funds at thg y8ar 8nd amounl8d lo £97,693 of whSch £44,745 was designated towards fixed assèt5. R¢$orves poll¢y Th¢ unr¢stri¢t¢d funds arc oss¢ntiol to SL)pply suffi¢i¢nt funds to coK'¢r ony unfor¢s¢¢n ¢oSts which may ari$¢ and fulfil th¢ legal obligations of the oh8rty if current levels of incotne are not rnaintained. The charity's reserve p(Aicy is lo hold cover in line with the recommerKlalions ol ihe Charity Commission in Northern Ireland. For 2024-25 the Directors aim lo retain at lèast 6 months opèratlng costs In rosèrwa whlch would bo lusl ovar £65Sk. Ourfraa rès8p*s at y8ar ènd arnounlod to £617,660. Polltl¢al and Charltabl• Donallon$ During the year the cornpany rnad? no political or charitable contribution5. Reference and Admlnlstratfve Oetalls The organisalions, detsils are as disclosed on the a￿￿InIstrative details page. THE BYfES PROJECT DIRECTORS. REPORT {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Statement of dlrectors, responsibllltles The Irusl&&s. who ar8 also th6 dir&¢lors ol The Bytes Proj8¢1 for the purposa ol company law, are r&sptsnsibl8 for preparing th8 Dir8ctors' Report and th8 financial stat8rnents in accordance with applicab18 law and Unit8d Kin9dDm A¢counling Standards iunited Kingdom Generally Accepted A￿OUntIng Praclicel. Company Law requires the trustees to prepare financial slatements for each financAal yeai which give a true and fair view of the slate ol affairs of the charity and ol the in¢oming resources and 8ppli¢atr'on of resourTrs, including the income and expgndilure. ol the Gharilable company for that year. In pr8parlng the88 fflnanclal stalerngnts, the Irusle6s are r8qulr8d lo,. select suitable accounts'ng policies and 1hen apply them consistentw; observe the methods and principles in the Charities SQRP., make judggrnenls 8nd gslimal89 that ar¥ rtra80nable and prudent., state whelher applicable UK Accounting Standards have been followed. subject to any rnaterial departures disclosed and 6xplained in the financial $18lemenls', 8nd prepgre the linonoi81 ststements on the going ¢on¢ern bosis unless il is inoppropriate lo presume Ihal Ihe Ghorily will ¢onlinug in opgralion. The Irusleps are resPQllsible for keeping gdequ8le gcGounlirig rerords Ihol disclo% with reg3onoble gccur8cy al any lim¢ the financial position of Ihe charity and eiiable Ihern 10 9n$ure ilial the fin81i¢ial stalervents ctsmply with the Corvp8n189 Act 2006. They are also responsiLle lor saleguording the assets ol the charity and hence lor taking reasonable steps for t%'&'oSll RI1&￿a￿a IlPA'dttfi8vla Wp, Ihp Dirertnr.s nt thp company whn hpld offirp al th* datè of approval of thesè Flnancial Statèm8nts. as s8t CAJt abc>ve, each confirm so lar as'*e are aware, that.. There is no relevant 8udil information ?1 which the company's 8udilors are unaware., and W8 have 18kon all lh• s18ps that w8 ought lo have tak8n as dlr8clors In ordèr to mak8 ours8lv88 aware ol any ralavant audit inlormation and to aslablish thal the company s auditors ar& aware of that inlormatlon. Auditor$ Thè auditorfs s•Nces will b8 r8-18nd8red in line with our Ilnanci81 procedurès. Spo¢lal Provlslons Rglatlng to Small Cornpanlgs Tlii5 report lias bÈÈn prepared iii accordancè willi lh& S￿la1 provisions of Part 15 of the Coinpanies Act 2000 relatiiig to small Companies. On bahalf ol th8 board B•n Cart• Ben Carter IChaSr) Dated: 17 Doc8mb8r 2024 THE BYfES PROJECT INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF THE BYfES PROJECT Oplnlon Wts h8V& 8udited the finan¢ial stslamènls ol The Bytes Project Iihg'charity'l for the year anded 31 March 2024 which compri88 th8 Statement of financisl activi1188, th8 balance sheet, th8 Stat&m8nt of cash flows and th8 notes to th8 financial slatements, induding a summary of significant accounting policies. The linanoal reporting framework that has been applied in their prgparation is applicabl81￿ and United Kingdom Accounting Standards, including Financial Repoming Standard 1 The Financial Reporting Standardapplicable in the UK and R&public of Ireland (United Kingdom GerErally Accepted Acwunling Practi￿1. In our opinion, the financial staternenls.. give a true and lair view ol the slate ol the charitable company's affairs as at 31 March 2024 and of ils incoming r¢sour¢8s and application ol resour¢e$, including rts income and expènditure, for the year then endéd,. havè baon pmporly pr8par8J In accordanc8 wlth Uniièd Klngdom Genèrally Acc8pt8d Accounting Practs'c8,' and have been prepared in acc(rdance wrth the requirements of the co￿paNieS Act 2006. Basi8 for opinion We conducted our audrt in accordan￿ wilh International Standards on Auditing IUKI IISAS IUKII and applicable law. Our r&8ponsibili1168 undor those Standards arts lurthar d8s¢rib$d in the Aiidilors 1&8ponsibilili&s forth& audil of the fin&n¢i&l stal&ments section ol our report. We are independent of the charity in accordanca with the ethical requirements that are relevant to our gudit of Ihe lin8nc481 Slgtempnls in the UK, including the FRC'S Ethic81 Slandaid. and we have f(Jllilled our other elhi¢al responsibilities in accordancg wilh these rgquiremenls. We bgli$ve that the audit eviden¢s wg hgve obtained 1$ sufficient arKI appropriate io provide a basi5 lor our opinion. Conclusions Telating to going roncern In audiling the linanc4al slatemenls, we have concluded Ihat the directors, use of the going concern basis of accounting in the preparation of the financial slatem&nls is appropriate. &ased on the work wp have performed. we have not identified any material uncert?intie$ relating to events or cvnditions th41. individually or ¢o118clively, may east signilic8nl doubl on Ihe charity's 8bilily lo continue as a going cun¢ern for a period of al least Iwglvg mgntrs frorn when the financial slalgmenls ar9 aulhorised lor i88ue. Our r9$pon$lbllllies atYJ th9 rgspon$lbSIill&s of Ihe dlre¢tors wllh r&spg¢1 lo goSng ¢on¢grn arg described In Ihg rglgvonl secb'ons ol thi¥ rgport. Oth•r Inforrnatlon The Iru618gs are responsible lor the other information. The other inforrnalion cornprises tre information included in the annugl report, other than the linanBial statements and our auditor's report thereon. Our opinion on the financial staternents does nol w'i8r the other information and, except lo the extent otherwise explicitly slated in our report. wo do not trxpress any form ol assurance conclusion thereon. In connection with our audit of the financial statements, our ￿Spon￿bIlitY 18 lo lead the other information and, in doing so, consider whether the other information is mal&rially inconsistent with th8 financial statements or our knowledge obtained in the gudit or olheNise eppears to be materially misstotee. If we identify svch material inconsislen¢ies or apparent malerial missi8lemenls, wa are required to deleminè wh&lher Ihore is a material mi$stai&mènt in the finanei81 Staltsmenls or a material misstatement of the olher inlorrnation. 11. based on the work we have performed, we conclude thai there is a moterial misststement of this other information, we are required lo report that lacl. We have nothing to report in this regard. THE BYfES PROJECT INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF THE BYfES PROJECT Oplnlons on other rnattor5 proscrlbed by tho Companlos A¢t 2006 In our opinion, based on Ihts work undartakan in the ¢our8e of our audit.. the infomi8bon 9ven in the Yirectors, report prep8red for the purpose$ of eomp8ny L9w, for the fin8nci81 year for whieh the Iinanual siaternenls are prepared Is consislenl with the financial statements", and the dirèctors, r8FOrt has been prèparod In accordanc8 ￿th applicablè18gal r8qulrernants. Matter5 on which we are required to report by exceplion In the light ol the knOw￿d9& and und&rÉtandin9 of Ihè charity and its 8nvironm8nt obtain8d in th8 cours• of th8 audit, w& h8ve not identified material misstatements in the director5, report, We have nothing lo report in respect ol the fdlowing matters where th8 Cornpanies Act 2Q06 requir85 US to repcyt lo you if, in our opinion.. Suffic.￿nI acrnunting rArnrds havE+ nnt b89.n k8pl,' nr th8 linanaal slat8mènls ar8 not Sn agr•8m&nt with th8 accounting r8cords', or ¢9rt8iri dlsclosures of Iruslee8' remune1811on spec￿19(1 by law aro not m8dg', or we have not received all the inlorm81ion and explanations we reqLJire lorour audil. R•$ponslbllltl¢s ol trust¢¢$ As explained more full￿ in the statement of directors, responsibilities. the Iruslees. who ar8 also the directors of the charity for the purpose of company IBW, are responsible for the preparation ol the linBneial statemenls and for being Sa￿'Sfied that they oive a true and lalr vlèw, and for such Snlernal control as the Irusieeg dglermlnelg ntrcessary l(> enablo th8 prap8r8llon of financial slalenienls that are Ire8 from material misslalem8nt, whether due lo Iraud or error. In preparing the financial statements, the trustees are respcnsible for assessing the charity's ability to tonlinLie as a ooing eon¢Èm, disclosing, as applicablè, mattèrs r8laled lo going eoneern and using tha going ¢on¢ern basis of accouniing unless the trusteès erther int&nd to liquidal8 the charitab18 company or io ceas8 op8ralions, or have no realistic alternative bul lo do so. THE BYfES PROJECT INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF THE BYfES PROJECT Audltor's responslbllllles for the audlt of the flnanclal statements Our objectives arts lo cl)tain reasonabl6 a￿vrance about whelhar tre financial statements as ¥ whole ar8 free from rnalan81 misstat8m8nt, whether due to fraud or 8rror, and to issue an auditorfs report that Includ8s our opinion. R&asonabl8 assurance is a high level of assurance bul Is not a guarantee that an audit conducted in 8¢cord8nce wilh ISAS IUKI will Iways del8cl a material rni5stslgmenl when it exists. MisstaleThenl8 can arise frotll Iiaud or error and are Considered material if. individually or in the aggregate, they could r&asonably be expected to influence the economic decisons of users iaken on the basis of these financial slalements. Irregularities, inoluding fraud. are instances of non-cornpliance with laws and ie9ulations. We design prooedures in line with our r&gponsSbllillgs. ouulngd abovo. lo delecl malfrrfal mlssl81om8nts In respect ol Irrguularllios, Includlng fraud. Th& exlonl lo vihich our procedures ar8 capable ol detecting irregularitses, including fraud is detailed bebw.. the nature of the aativilies and sector. control enwronment and perfr)miance,' rgsults ol our trnouiries ol manogemtrnt abgul IhgSr own IdenUli¢allon and a$s&9sm&nl of thg rksks of IrrggularitS9S', • any rNallers we idenb'lied having obtained and revi8wed the charitable company's document￿.On of their policies and procedures relating lo.. idgnlifying, evaluating and cornplying with laws and Iggulalions and whelh&r Ihey wgra aware of any instsnctss of non-compliance; detecting and responding to the risks of fraud and whether they have kno¥vledge ol any actual, suspected or 8lleged tr8ud., the internal Lunlrols established to mrtigal8 risks of fraud or non-compliance wilh laws and regulalians., the rnotlers disoussed gmong the audit enga9emenl legm ond relevant interngl speoi81ists where neoessary regarding how and whore Iraud mighl occur in th$ financial slal¥manl$ and any potential indicaltsr$ ol fraud. As B rp5uII ?f these priJGetJurp5, we cgnsidered the opportunities and inGentive3 Ihal rnoy exist wilhin the or98ni58lion for fraud. In comtnon with all auéils under ISAS IUKI. we are also required its pertorrn 8pecili procedures lo iespond to Ihe risk of rnanagement override. We also oblaingd an underglariding of Ihg legal and rggulalory Iratngwork$ Ihat the charilgble company operates in, fo¢u¥ing on provisions of those kjws ond re9ulations Ihol had a direct effect on the determination af rnaterial Dmounls and disclosure5 In the Ilnan¢ial $181gmenls. The k&y18ws and regulallons we ¢onsSdgre¢J In Ihls Conlexl Included the Companles Act 2006, the Charities Act (Northem Irglandl 2008 and Taxation Legislation. In oddlllon. we ¢onslder9d provl$lons of olher Igws ond rggulallon$ Ihgl do not havg o dlrgct gffgcl on Ihfj finan¢lal tAt8m8nt8 hul c.ntnpli4ncM with whirh MAY he lundarn8nlAI lo th8 rharilAhl8 r￿MP￿ny'S ability In Dr tn material penalty. AS a result of perfortning the above our procedures lo respond lo risks idenkn'lied included Ihe following.. reviewing the financial staternent disclosures and testing 10 supporting documenlation to assess compliance with provisions of tèrms of funding. rèlsvant laws and ragulalions dèscribad as having a dirg¢1 affacl on Iha financial stalements.. enquiring of m8nagemenl conceming actual and potential litigation and ¢1gims performing analytical procedures lo idonlily any unusual or unexpg=18d relalionships Ih8t may indi¢al$ ri$k$ of aterial mi55latsrnent due lo fraud., reading minutes of meetings of thoge charged wth governan￿ and reviewing correspondence wilh HMRC',and in addressing the risk of fraud through rnanagemenl override of ¢onliols. lesiing the appropri8ten88s ol journal entri98 and other adjuslrnenis,. assessing whether the judgements made in rnaking accounting e5tirnales are indirative ol a potential bias,. and evaluating Ihe business ralionale of any significenl tr8nsaclions Ihat are unusual or oLJtside the normal cours8 ol business. We also ¢ommunl¢atgd rg19vanr Idgniiflgd laws and re￿I9110n5 and poientlal fraud rlsks 10 all engaggmgni Igam rn8mbers, including intemal specialists, and remained alert lo any indications of fraud or non-GomplianGe with laws and regulations throughout the audit. 10- THE BYfES PROJECT INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF THE BYfES PROJECT This r8POrt 15 mad8 solely to th8 charity metnb8r5, as a body, in aCC￿rdanCe with Chapler 3 01 Part 16 of th8 Cotnpanie5 Act 2006. Our audit work ha5 been undertaken so that we rnight state to the charity members those rnatters we are required to slate to them in an auditorfs r8POrt and for rno other purpose. To the fullest extent pèrmitted by law, w8 do not accepl or 85surn8 responsibility to anyone other than lh8 charity and th8 charrty M8￿berS as a body, for our athit work, for this report, or for the opinions we have formed. Jarnes Gago J•m•s Gag• IS•nlor Statutory Audltorl for and on behall of.. Johnston Kènnady DFK 8tatutory Audltor Charterèd Ac¢ountanl8 Registered Auditor$ 10 Pllots Vlèw H•ron Road B•lfasl BT3 9LE Dat¢d: 17 D•￿Mb•r 2024 11 THE BYfES PROJECT STATEMENT OF FINANCIAL ACTtVlTIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2024 Unrestricted fund5 Restricted funds Total 2024 Total 2023 Nole$ Incom• from: Charitable activibe5 105,843 1.188,039 1,293,882 1,133,285 ondllure on= Charitable activities 100,523 1,210,607 1,311,130 1,007,243 Total expenditure 100,523 1,210.607 1,311,130 1,007,243 Not In¢omlnglloutgolngl 5,320 {22.5681 117.2481 126,042 TYansfèT6 betw&8n fund8 14&15 5,669 IS,6691 Net movement In funds 10,989 128,2371 117.2481 126,042 Total funds brought forward 647,229 12S,930 773,159 647,117 Total fund8 carried lotward 658,218 97,693 755,911 773,159 Contlnulng op•ratlon$ Th8 Statement ol Financial Aclwili85 ha5 been prepared on the bas 8 Ihal all operations are continuing operats'on8. Stat•m•nt ol compr•h•n8lv• Incom• There is no other comprehensive income lo report lor the finoncial year. Comparativ•8 The ¢ornp¥ralive arnounls by fund h¥ve been dis¢lo$ed in notes 2 ond 3. Hlstorlcal cost The resu115 as dlscloséd In the Stat•rn*nt of Financial Advlllos and thè n&t outgoing rasourcés lor th8 y8ar have b88n prèsèntèd on an historie21 cost basis. The notes on pag0$ 15 to 23 form part of thesè finan¢ial st•l•mènts 12- THE BYfES PROJECT (CHARITABLE COMPANY LIMITED BY GUARANTEE) BALANCE SHEET AS A T 31 AIARCH 2024 2Q24 2023 Noteb Flx•d ass•ls Tangible as￿(5 85,3Q2 72,429 Currènt assèts Debtors C8sh al bank and in hand io 238.419 699,647 537,504 334,655 938.066 872.159 Creditor8: amounts hlling duo within ono y•ar 11 12fJO,9301 1148,fJ881 Net current assets 687,106 725.591 Total assets less current IlabllltleB 772,438 798,020 Crfydltors: amounts lalllng du& aftor moro than one year 12 116,5271 124,8611 Nèt assèts 755,911 773,159 Fund¥ Re51ri¢led ￿n￿me funds Unresirictad income funds 14 15 97,693 658,218 125,930 647.229 Total fund¥ 16 755.911 773.159 The financitl slaternenls wer8 approved by Ihe Truste66 and aulhorised for iSBue on 17 Decembei 2024 and signed on Ils behalf by.. en Carter Andrea MGLoughlin B•n Cartor Dlrector Androa M¢Loughlln Dlrector Company Registration No. N1027448 Charity No. NIC 105711 The not•s on pagas 15 to 23 form part of thgsa fflnanclal statam8nls 13- THE BYfES PROJECT STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2024 2024 2023 NoteB Cash flows from operatlng actlvltl•s Cash generalgd from opgralions 24 425.Q74 310.454 Invèstlng actlvlt5•8 Purchase of tangible fixed assets lof1,7481 140.1631 N•t ¢a$h u$od In Inv•$tlng a¢tlvlil 151,7481 140.1631 Financing activitieJ IRèpaymanlsl l advanc•s from bank loans 18,3341 18,8191 N•t cash us•d In flnancSng actlvttl• 18,3341 18,8191 Net increase in ca9h and ca¥h e4uivalent 364.992 261,472 Cash and cash e9uivalenl$ al beginning of yFar 334.655 73,183 ¢a¥h And ¢a$h equivalenl8 at •nd of y•ar 699.847 334,655 The notes on pages 15 to 23 form part of these flnanclal statements 14- THE BYfES PROJECT (CHARITABLE COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Ac¢ountSng pollcle8 Ch8rity infowmation Th8 Bylos Projoct is a prlval8 company limlted by guarant88 incorporatèd Sn Northern Iraland. The r•gist@r•d offic8 and principal office is 300-302 Antrim Road, Newlownabbey, B T36 SEG, Northern Ireland. The nature ol the charlty's operations and wincipal activitie5 are given in Ihe directors, report on page 3 01 these financial stzlements. 1.1 Accounting conv•ntion The charity consiilules a publi¢ benefit èntity as defined by FRS 102. The financial s18lements havè been prepared in accordance with Accounting and Reporting by Charits'es.. Statement of R8commend8d Practice applicabla lo charitiè$ preparing their accounts in accordance with the Finanaal Reporting Standard applicable in Ihe UK and Republic of Ireland IFRS 1021 Ise¢ond edition October 20191, the Financial Repr)rtino Standard opplicable In the United Kingdom and R8public ol Ireland IFRS 1021, the Charitl8s Act INorthern Ir8landl 2008. the Companies Act 2006 and UK Generally Aceepied Practice as it applies from 1 January 2019. The financial slalements are prepared in 618rfing, which 15 the functional currency ol the charity. Monetary amounts in firidfiLltil sldli>iri¥ril¥ rour)d¥d tu Ili# Iitldf&?*l £. The linon¢io1 Stolements ho'le been prepored under the historical ¢osl ¢onvents'on. The significant accounting pK)licies applied in the preparation Df these financia1 stalernents are set out below. These pollcle8 hove b8&n ¢on858tenlly applied lo 811 years pre8ented unlo88 Othgrwl$e atated. 1.2 Incorne and expenditure Income is recognised when the charity is legally enlilled to il after any perfo￿anCe -ondilions have been rnel, the amounts can b8 rn8a8ur8d 181Sably, and It is probable that Incom8 will b8 r8c8lv8d. ￿1 income aros8 wholly in tha Unitad Kingdom, All expenditure is a¢counled for on an 8ccruals basis and has been classified under headings that aggregate 011 wsts related lo the calagory. Th¥ majority of costs are ¢ireclly allributsbla lo tharilable aclivilies. Whar& costs cannol be directly aiiributed lo particular headings they have been allocated to charitable acliwties on a basis consistent with use ol the resour¢?s. Slgff ¢osts ond overhegd expenses are e110¢oled to aclivilios on the besis of stsN tr'me spent on those activ1￿'es. 1.3 Support costs Support costs are those function5 that assist the work of the charily but do not directly represent charilable aclwities, Support costs include back office costs, finan¢e, human resources. payroll and governance costs which support the harrty's aclivilies. These costs have been allocated against the 8xpenditure on charitable aclivits'e8. 1.4 Fund AccountSng Th8 charily has differ8nt Iyp85 of funds lor which il is responsible, and which require 58paral8 disclosure. Th858 are as Yollows.. lal Reslricled funds - Funding received whieh Can only be used lor a SPEalic purpose as deltsrmined by the funder. Such purposes are within the owerall aims ol Ihe or9anisalion and are sel out in the notes to the linancial statements. Ibl Unreslrlcled fiJnds- Funds whl¢h arg expendablfj al the dtscrellon of Ihe dlre¢tors In the futherance of th objectives of the tharity. In addth'on Ihe funds tnay be held in order lo ffinance capital investrnenl and work ng capital. 15- THE BYfES PROJECT (CHARITABLE COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 A¢¢ounting policies Icontinutdl 1.5 Tangible fixéd assets Tangihle fixed assets are staled al cosl less depreciation. Depreciation is provided at rotes calculated lo write off the ¢ost1oss estimalgd residual value ol trach 8ssg1 ov¥r ils eXp￿ted useful life, 8s follows., FYxlur8s and fittings Computer equipment 25°k straight line 33Dkn straight line 1.6 Flnanclal Instrumènts Th8 charlly has elected lo apply th• prov151on5 01 S8Ction 11 'Basic Flnanclal In5trum8nts' and S8clion 12'0th8r Financlal Instrurn8nts Issu8s' of FRS 102 lo all ol tts Ilnancial Insirumants. Financlal instruments ar8 recognls8d Sn th8 charily's balanc8 sh88t when tho charity b8com88 party to th8 contractual provlsion8 of the Inslrumenl. Flnanclal 858et5 and liabilltl&s ar8 offs81. wlth th8 n8t amounts pr8s8nl8d in th8 financlal stat8rn8nls. when Ih8r8 IS legally •nfofc•ablé right to sel off th8 r8cognis•d amounts and thoro Is an Intenllon lo settle on a nel basls or lo reallse the asset and seiiie the liablily sirnullaneously, Ba$1¢ finan¢lal a$$gts Basic financial asse15, which include debtors and caBh and bank balances. are initially measured al Iran8aclion pric8 induding transaction costs and are 5ub5equenlly carried at amorlised cost using the eNective interest rnelhod unless th8 ariangtrmanl conslitules 8 lin8n¢in9 Iransaclion, where the Iransaclion 18 measured 81 tha pr&sanl value ol th8 future receipts di5counled al a rnarket rate of inter851. Financkil assets classified as receivable wrthin one year are not amortised. Bask flnancl41 Ilabllltl•$ Basic fin8nci81 li8bilitiès, including creditors and bank loans are init1811y r8cogni9èd 81 transaction pri￿ unl838 thè a￿angernent conslilute5 8 fin8ncing Ir8nsaction, ￿here the debl instrument Is measured at the present value of the future payments discount8d al a Mark￿ ral• ol intorost. Financlal liabilili88 classifi8d 85 payable within on8 y8ar ar not amortis8d. Debt inslrum8nls art subsequèntly tarrièd at arnorti$8d cost. using thè £ffaetivè int8rè$l rat8 mèthod. Oper8ling crèditors are oblig8tions lo pay lor goods or services that h8ve been 8¢quired in the orclin8ry course of optsrations from suppliers. Amounts payablo aro c￿SSIfIed as currttnt liabililitrs il payment is dua wrthin ono year or ltsss. 11 not, they are presented as non-current liabilities. Operating creditors are recognis&d initially at transaction prlc and subsequently me8sured al amortised Cost using the effective inleresl rnethod. Derecognlllon of financlalllabllltles Financial liabilities are derecognised when the charity's contractual obligations expire or are discharged or cancelled. 1.7 Taxatlon The CDmp3ny 15 a registered charity and is not liable to lax on funds generated frotn activities wrfhin Ihe scope of the charitable exemption5. 1.8 Pensions The comp8Thy oper8tes a defined contribution pension 8cherne. Pension contributions in re8pect of the Scheme lor employees a￿ charged to the profil and loss account as they become payable in accordance with the rules of the s¢h&me. The assets are h&l.J sep8ral&ly from those of the comp8ny in indèpendently administered fund. Differences between the amounts charged in the income and expenditure account end payments made lo pension funds are treated as assets Dr liabilities. 16- THE BYfES PROJECT (CHARITABLE COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 A¢¢ounting policies Icontinutdl 1.9 Rentels p8y8ble under oper8ting le88es, in¢luding any le8se incentive8 received, are eh8rged 8s an expense on straight line basis over the terrn ol the ielevant lease. Statomgnt ol Flnan¢l81 ActlvStlg$:Unr•$trlctsd fvnds 2024 2023 Income from,. Charitable aclivilies 105,843 79,188 Total Incomè 105.843 79.188 Expenditure on: Charil8bl8 acliviti•s 100.523 63.464 Total •xp&ndltur8 100,523 63,464 Not In¢omlnglloulgolngl 5,320 15,724 Tran8fer8 bets￿0n funds 5,669 127,&89 Not movement In lund8 10,989 143,613 Totsl frjnds brouqhl forward 647.229 503.616 Total funds Carried forward 658,218 647.Z29 17- THE BYfES PROJECT (CHARITABLE COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Statement ol Flnanclal ActlvStles- Restrlcted Funds 2024 2023 Income from.. Charitable activilies 1,188,039 1.054.097 Total incorne 1,188,039 1,054.Lya7 Exp•ndltur• on: Charitable aclivities 1,210.607 943.779 Total •xpèndltur• 1.210,607 943,779 N•t Incomlngl{outgolngl 122,5681 110,318 Transf•rs b•tw••n funds 15.6691 1127.8891 Net movement In funds 128,2371 117,5711 Totsl funds brought lorward 125.930 143.501 Total funds carried forward 97.693 125.￿0 4 Charltable activities Unr••trfet•d R•strleted fund fund Total 2024 Total 2023 Big Lottèry Fund Educats'on Authority SÉUPg- PÉACE ANBC pcsp T.'BUC I CGRF ESF . Launch Pad Vvic¥tt 4 Iiiipabl YP- Tech Projects Misce112neous Restrioted Rank Foundation PA FoUnd8￿0n Youlh start Dormant Accounts- CRM Fees lor services delivered Community f(Jndiny support Santander Grant 4,714 157,981 2.702 80.291 51.760 254,201 275,307 22,524 149,136 47,613 581.741 561.741 80.845 60.845 219.461 219,461 5.F45 5,745 28,795 27,500 28.795 27,500 UU.1121 10,302 92,713 10,302 92,713 77,318 13,130 12,829 85,959 9.648 105,843 1,188,039 1,293.882 1,133.285 18- THE BYfES PROJECT (CHARITABLE COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Expendlture on charltable actlvltles LlnreBtricted Fund Regtrieted lund 2024 2023 Aclivily ¢05ts Support costs 57,023 43.500 972,636 237,971 1,029,659 281,471 783,581 223,662 100,523 1,210,e07 1.311,130 1,007,243 N•t Incom•ll•xp•ndltur•l 2024 2023 Nel rvovemenl In lunds 1$ slated aftgr ¢haiying Depreciation af tangible fixed assets Auditorfs remuneratlon lincludlng accounlan¢y servlcesl 38.875 6,1S2 36.329 5,724 Employ84s Numb¢r of employ0•8 Thè averag8 monthly number ol employ885 durlng the yoar was.. 2024 Numb•r 2023 Numbor 40 38 Thè numbef of •rnployèès whosè *nnLwI r8rnun8rth.on was £60,000 or rnore worè,. 2024 Number 2023 Number £60,000- £70,000 DIr￿tors. r•mun•ratlon No dlre¢lor rè¢eiied any remuneratlon or wèrè ￿1mb￿r$¢d expenditu￿ from the charity dunno Ihè ¢urrent or pr8VIOUS year. 19- THE BYfES PROJECT (CHARITABLE COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Tanglble flxed assets Flxlures and flttinga Cpmput¢r ewipment Totol Cost At 1 April 2023 Additlons 103,822 26,867 284,272 24,881 388,(E4 51,748 Al 31 March 2024 130.689 309.153 439.842 Dgpreciation At 1 Apnl 2023 Depreciation ¢horged in the year 72,846 13,4og 242,819 2 Jf.486 315,665 38,875 At 31 March 2024 86.255 268,285 354,540 Nel book value At 31 March 2024 44,434 40.868 Al 31 March 2023 30.976 41,453 72.429 10 Debtors 2024 2Q23 Amoun18 fallino duè within on¢ y•ar'. A¢tivty d8blor8 Prep8ymenis and accruèd incomè 123.939 114.480 256,393 281,111 238.419 537.504 11 Credllory.. amounts falllng due wlthln one year 2024 2023 Not•s Bank loans Olh8r taxation and soclal s8curlty Activity eredilors other creditors Accruols and defer￿d incorne 13 8.333 404 70.404 4,230 167.559 8,333 8.622 43,943 85,040 250.930 146,568 12 Cr•dllors'. amounts falllng du• aft•r mor• than on• y•ar 21124 2023 Notes Bank loans 16,527 24,861 -20- THE BYfES PROJECT (CHARITABLE COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 13 Loans and overdrafts 2024 2023 Bank loans 24.860 33.194 Payable within one year Pay8bla after one y88r 6,333 16.527 8.333 24.861 14 Re$tri¢t&d in¢omè fund& Balance al 1 Incomlng April 2023re8our¢•• Resources •xpond•d Transfers Balance at 31 March 2024 Big Lottary D¢lachtrd EducaliDn Authority ANBC - Life Skills Rank Found81ion PA Foundalon Youth Start Dormant Account5- CRM Slreal 1 ESF - Launch P8d PCSP Projacts T.BUC I CGRF Voice5 4 Impact YP - Tech Projects Sant8nd¢r Covid Recovery Fund Other Small Funds 87 555 39,984 87 555 23,716 561,741 60,545 28,795 27,500 200,821 10,302 1569,5821 157,5691 128,7941 126,3861 1199,9721 110,3021 18,4271 13,2761 1.114 5,029 5,029 11801 13331 1225,9721 113,1141 13,3071 166,3501 15641 18,1841 180 20,639 1,059 10,669 5,329 2,652 564 39,363 20,306 402 219,461 5,745 5,854 2.022 9.131 72,929 31,179 125,930 1.188,J39 11,210,607) 15.6691 97.693 15 Unr•strl¢tod furhds At 1 Aprll 2023 Incom5ng r¥$our¢•$ R•sourc•$ oxp•nd•d Transf•rs At 31 March 2024 General fund5 647.229 105.843 1100,5231 5.669 658,218 21 THE BYfES PROJECT (CHARITABLE COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 16 Analysls of net assets between fund Tangible Flxed Assets Net Currgnt Agsets Total 2024 Restricted Incorrp Funds Unrestricted Income FLJnd$ 44.745 40,557 52.948 617,661 97.693 658,218 8 Jf,302 670,609 7JJ,911 17 Op•ratlng l•as• comrnltrn•nts L•$￿¥ Al the reporting end dale Ihg charity had oulslanding comrllilments lor future Minimum lease payments under non-cancellable operating leases, which fall due as follows= 21124 2023 Be￿9￿n two and Ilve years 18.496 18.496 18 Capital ¢ommilm•nl¥ The Company h* no financiol commitments as 8131 M8rch 2024 Bnd a131 March 2023. 19 Non4udbt s8rvlc8 provlslon In cornrnon wrth many other chariti*$ ol our siz• and naturo wo u80 our auditors lo a$si$l with lh8 prèparation ol the flnancial statements. 20 Relatèd party transactlons ThèrÉ wère no dLsclosable relatèd party tr8n$8etlons during the year12023- none). 21 Company #talus The cpmpany is as wtnpany limilgd by guaranleg and does not have shorg capital. 22 Control The direclors control the company. The directors are appointed by and are accountable to the rnembers. 23 Flnanclal cornmltments Thè ¢Dmpany h* no fin8n¢181 eommltments as 8131 Mareh 2024 and 8131 Mareh 2023. -22- THE BYfES PROJECT (CHARITABLE COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Cash genorated from operatlons 2024 2023 Nel fflovemenl in funds 117.2481 126.042 Adjustments for.. Depreciation and impairment of tangit)le fixed assets 38,875 36,329 Movements in w¢rklng capllal.. Decrease in deb1ors Increaselldecr8as81 in creditors 299,085 104,382 282,930 1134,YJ71 Cash generated from operationB 425,074 310,454 25 Analysls of changgs In n&t funds At 1 Aprll 2023 Cmh flow$ At31 Inarch 2024 Cash at bank and in hand 334,655 364.992 699,647 Loans falling due within one year Loans falllng du• aft8r mor8 than onè yèar 18,3331 124.8611 18,3331 116,5271 8.334 301,461 373,326 674.787 -23- This document was delivered using electronic communications and authenticated in accordance with the registrar's rules relating to electronic fonn, authentication and manner of delivery under section 1072 of the Companies Act 2006.