REGISTERED COMPANY NUMBER: N1034969 (Northern Ireland) REGISTERED CHARITY NUMBER: 105761 Report of the Trustees and Financial Statement5 for the Year Ended 31 March 2023 for CUAN MHUIRE (ND LIMITED M.B.Mc Grady & Co Chartered Accountants Statutory Auditors Rathmore House 52 St Patricks Avenue Downpatrick Co. Down BT30 6DS
CUAN MHUIRE (Tr4D LIMITED Contents of the Fiiiancial Statements FOR THE YEAR ENDED 31 IVIARCH 2023 Page Report of the Trustees Report of the Independent Auditors Statement of Financial Activities Balance Sheet io Cash Flow Statement Notes to the Cash Flow Statement 12 Notes to the Financial Statements 13 to 21
CUAN MHUIRE (NI) LIMITED (REGISTERED NUMBER: N1034969) Report of the Trustees FOR THE YEAR ENDED 31 MARCH 2023 The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2023. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts tn accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective l January 2019). OBJECTIVES AND ACTIVITIES Objeetives and aims The charity's mission statement is as follows: Cuan Mhuire is a way of life. It is focused on serving Christ in the person sufferiJ)g from addiction and its effects. We are wholly inclusive and embrace those who feel marginalised and unloved. The Cuan Mhuire Communlty seeks to help all to discover their giftedness and their infLnite value. Cuan Mhuire provides a lived experience of home, family, and belonging. We are always attentive to providing the highest standards of excellence for those for whom we provide care and support. The companys objects are to promote the relief of sickness and in particular to relieve person5 without regard to age, sex, race, religion or creed who are suffering from dependence on alcohol or any other drug or from any illness, infErmity, disability or disease attributable to resulting from or in any way connected with such dependence. The strategies employed to assist the charity to meet these objectives included the following: Providing support and residential progranllnes related to the problems of dependence. Providing aftercare for ex residents. - An outreach proamMe is provided to schools and colleges and other interested and concerned parties. - Focusing upon limiting the hami which comes with dependence. Working towards applying national standards to service and the implementation of the national occupational standards. Working in partnership with other agencies to secure the widest range of services is available that best matches the needs of its client'5 population. STRATEGIC REPORT Prineipal funding sources The prlncipal funding sources for ihe Charity are "Health & Social Care Board (HSCB)" and "Supporting People" Included within incoming resources is a total of £165,000 received from the Health & Social Care Board with £401,715 from Supporting People. Other funding comes from the Northern Ireland Housing Executive and through voluntary contributions from residents. Support ndIng was received from Health & Social Care Board (Strategic Planning and Perfomiance Group) of £33,000 together with £118,841 from the Greystone Trust to aid Èn the eventual fitting out of the residential units under construction. Cuan Mhuire also relied upon lldIng received throughout the fmancial year from donations and fund raising activities. Investment policy and objectives Aside from retaining a prudent amount in reserves each year most of the charity's funds are to be spent in the short tern] so there are few funds for long term investment.
CUAN MHUIRE (ND LIMITED (REGISTERED NUMBER: N1034969) Report of the Trustees FOR THE YEAR ENDED 31 MARCH 2023 STRATEGIC REPORT Financial review Reserves policy The Directors and the Local Leadership Group has examined the charity'5 requirements for reserves in ligJ]t of the main risks to the organisation. It has established a policy whereby the unrestricted funds not committed or invested in tangible fixed assets held by the charity should be between 3 and 6 months expendIre. Budgeted expenditttr¢ for 2022123 is approximately £1,100,000 and therefore the target is between £275,000 and £550,000 of general unrestricted funds. The reserves are required to meet not only the working capital requirements of the charity but also in conjunction with the development project as described in the below paraaph. The actual Teserves at 31 March 2023 amount to £1,778,384 which exceeds the average target figure of £412,500 for unrestricted funds. In calculating reserves the net book value of fIxed assets held (£6,600,898) have been excluded. This surpassed the policy target of 3 to 6 months. The Directors ale aware of the events occurring within the fmancial year and will continue to keep under constant review. It remains the strategy of ihe charkty to continue to build reserve5 and apply resources to the charity's objectives aThd mission. DEVELOPMENT The construction of additional long temi residential accommodation comrnenced at their Newry location on the Dublin Road during the year ended 31 March 2023. It is anticipated that these accommodation units will be completed by December 2023. This is referred to in Note 18 of the Financial Statements. STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document The company's name is Cuan Mhuire (NI) Limited" The organisation is a charitable company limited by guarantee, incorporated on the 5th October 1998 and registered as a charity in 1998. The Company was established under a memorandum of association which established the objects and powers of the charitable company and is governed under its Articles of Association. In the event of the company being wound up members are requÈred to contribute an amount not exceeding £1. The Directors of the Company for the purposes of Charity law and under the company's articles of assocÈation shall manage the business of the company and exercise all the powers of the company. Each year a director shall retire by rotation. Ms Maeve Hughes will retire by rotation and being eligible offers herself for re-election. Due to the nature of the charity's work the Directors seek to ensure that the needs of the service users are appropriately reflected though the diversity of the directors. To enhance this Directors are sought who have an interest and understanding of the charity's work. Organisational struclure Management consists of eight Directors and a Chief Executive. In addition to the directors the company has a Board of Trustees who delegate that all operation5 of the company are managed by the Board of Directors. The Local Leadership Group and staff meetings monitor fmance, health and safety and other matters that are the responsibility of the charity. The day to day running of the centre is under the Control of a manager who has designated responsibility for particular tasks. The manager also ha5 responsibility for the day to day operational management of the centre, individual supervision of the staff team and ensuring that the team continue to develop their skills and working practices in line with good practice. Induction and traxning of new trustees The Trustees are familiar with the practical work of the charity. Additionally new trustees are invited and encouraged to familiarise themselves with the work of the chaTity and in the context within which it op¢rat¢s. Related parties In so far as it is complimentary to the charity's objects, the charity is guided by both local and national policy.
CUAN MHUIRE (ND LIMITED (REGISTERED NUMBER: N1034969) Report of the Trustees FOR THE YEAR ENDED 31 MARCH 2023 REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number N1034969 (Northern Ireland) Registered Charity number 105761 Registered office 200 Dublin Road Newry Co. Down BT35 8RL Tru5ttes LDufy G Wallace Ms M Hughes Dr F Sheehan P O'Donoghue Solicitor Sr C Fitzgerald O Mcconville Occupation Counsellor Ms M Doran Registered Nurse C Murphy (appointed 2711012023) Non director trustees O Condon P O'connor N Smith Company Secretary Ms K Bennett Auditors M.B.Mc Grady & Co Chartered Accountants Stamtory Auditors Ratl)more House 52 St Patricks Avenue Downpatrick Co. Down BT30 6DS Bankers Danske Bank 58 Hill Street Newry Co.Down BT34 4BD STATEMENT OF TRUSTEES, RESPONSIBILITIES The trustees (who are also the directors of Cuan Mhuire (NI) Limited for the purposes of company law) are responsible for preparing the Report of the Trustees and the fmancial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
CUAN MHUIRE (NI) LIMITED (REGISTERED NUMBER: N1034969) Report of the Trustees FOR THE YEAR ENDED 31 MARCH 2023 STATEMENT OF TRUSTEES, RESPONSIBILITIES - continued Company law requires the trustees to prepare financial statements for each fmancial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those fmancial statements, the trustees are Tequired to select suitable accounting policies and then apply them consistently. observe the methods and principles in the Charity SORP. make judgements and estimates that are reasonable and prudent; state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the fmancial stateEnents' prepare the fmancial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business. The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the fmancial position of the charitable Company and to enable them to ensure that the fmancial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. In so far as the trustees are aware: there is no relevant audit infonnation of which the charitable company's auditors are unaware; and the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit infomation and to establish that the auditors are aware of that inforn]ation. AUDITORS The auditors, M.B.Mc Grady & Co, will be proposed for re-appointment at the forthcoming iinnual General Meeting. Report of the trustees, incorporating a strategic report, approved by order of the board of trustees, as the company directors, on 27 October 2023 and signed on the board's behalf by: Ms K Bennett - Secretary
Report of the Independent Auditors to the Trustees and Members of Cuan Mhuire (NI) Limited (Registered number: N1034969) Opinion We have audited the financial statements of Cuan Mhuire (NI) Limited (the '¢haritable company,) for the year ended 31 March 2023 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the fmancial statements, including a summary of significant accounting policies. The fmancial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). In our opinion the fmancial statements.. give a true and fair view of the state of the charitable company's affairs as at 31 March 2023 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended. have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice. and have been prepared in accordance with the requirements of the Companies Act 2006. Basis for opinion We conducted our audit in accordance with International Standards on Auditing (UK) (ISAS (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors, responsibilities for the audit of the fmancÉal statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the fanCIaL statements in the UK, including the FRC'S Ethical Standard, and we have lfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Conclusions relating to going concern In auditing ihe fmancial statements, we have concluded that the trustees, use of the going concern basis of accounting ITh the preparation of the fmancial statements is appropriate. Based on the work we have perfornied, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast SIlfiCant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the fmancial statements are authori5ed for issue. Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report. Other information The trustees are responsible for the other infomiation. The other infomlation comprises the infomiation included in the Annual Report, other than the fmancial statements and our Report of the tndependent Auditors thereon. Our opinion on the fmancial staternents does not cover the oiher infonnation and, except to the extent othenvise explicitly stated in our report, we do not ¢xpress any form of assurance conclusion thereon. In connection with our audit of the fmancial statements, our responsibility is to read the other inforniation and, in doing so, consider whether the other infomiation is materially inconsistent with the fanCIal statements or our knowledge obtained in the audit or othenvise appears to be materially misstated. If we identify such material inconsistencies 01 apparent material misstatements, we are required to deterniine whether this gives rise to a material misstatement in the fmancial statements themselves. If, based on the work we have perfonned, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. Opinions on other matters prescribed by the Companies Act 2006 In our opinion, based on the work undertaken in the course of the audit: the information given in the Report of the Trustees for the fmancial year for which the fmancial statements are prepared is consistent with the fmancial statements. and the Report of the Trustees has been prepared in accordance with applicable legal requirements.
Report of the Independent Auditor5 to the Trustees and Members of Cuan Mhuire (NI) Limited (Registered number: N1034969} Matter5 on which we are required to report by exception In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements kn the Report of the Trustees. We have nothing to report in respect of the following matters where the Companies Act 2006 Tequires us to report to you if, in our opinion.. adequate accounting records have not been kept or returns adequate for our audit have not been received from branches not visited by us. or the financial statements are not in agreement with the accounting records and returns. or certain disclosures of trustees, remuneration specified by law are not made. or we have not received all the infomation and explanations we require for our audit. Responsibilities of trustees As explained more fully in the Statement of Trustees, Responsibilities, the trnstees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees deterniine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the fmancial statements, the trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.
Report ofthe Independent Auditors to the Trustees and Members of Cuan Mhuire (Nl) Limited (Registered number: N1034969} Our responsibilities for the audit of the financial statements Our objectives are to obtain reasonable assurance about whether the fmancial statements a5 a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAS (UK) will always detect a matertal misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Irregularitie5, including fraud, are instances of non-compliance with laws and regulations. We design procedure5 in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below. Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follow5.. the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations. we identified the laws and regulations applicable to the company through discussions with directors and other management, and from our knowledge and experience of the sector the Company operates within. we focused on specific laws and regulation5 which we considered may have a direct material effect on the financial statements or the operations of the company including the Companies Act 2006, charity and taxatioll legislation, data protection, anti-bribery, employment, environmental, health and safety legislation. we assessed the extent of compliance with the laws aThd regulations identified above through making enquiries of management and inspecting legal correspondence. and identified laws and regulatlons were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit. We assessed the susceptibility of the company's fmancial statements to material misstatement, including obtaining an understanding of how fraud might occur, by: making enquiries of management as to where they considered there was SU5ceptibility to fraud, their knowledge of actual, suspected and alleged fraud. and considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations. To address the risk of fraud through management blas and override of controls, we: perfornied alla11¢al procedures to identify any unusual or unexpected relationships. tested journal entries to identify unusual transactions. assessed whether judgements and assumptions made in deterniintng the accounting estimates set out in the notes were indicative of potential bias. and investigated the rationale behind significant or unusual transactions. In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to.. agreeing fmancial statement disclosures to underlying supporting documentation. reading the minutes of meetings of those charged with governance. enquiring of management as to actual and potential litigation and claims; and reviewing correspondence with HM Revenue & Customs, relevant regulators including the Health and Safety Executive, and the company's legal advisors. There are inherent Itmilations in our audit procedures described above. The more removed that laws and regulations are from fanCIal transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any. Material mi55tatements that arise due to fraud can be harder to detect than those that arise from error as they rnay involve deliberate concealment or collusion.
Report of the IndepeIid¢nt Auditors to tlie Triistees Menibei's of Cuan Mliuire (Nl) Limited (Registered number: N1034969) A fui'ihei. description of oiii. i'esi)oiisibilities foi. tlie aiidit of the financial statements is located oil the Financial Repotting Couttcil's website ¢11 www.fi¢.org.Iiklaiiili10151'esponsibilities. This description foi'ms pai'l of oiir Report of the In(lependent Auditoi's. Use of our report This i-epoi-t is made solely to tlie ¢hai'itable coinpany's nionibers, as a body, iii acCordnce with Cliapter 3 of Pait 16 of the Conipanies Act 2006. oiii. audkt woi'k has becn iindci'lakeii so that we Inight state to the chai'ituble eoinpany's iiieinbeis those inatters we are I'equired lo slate to them in an auditoi'q, i'epoi't and foi. no olhei. piu'pose. To tl)e fullest extelit permitted by law, we do not accept or assuine i'esponsibilily lo anyone othei. thali the ¢harilable company and the charitable coinpany's meiiibers as a body, foi. oiii. audit woi'k, for this I'epoi't, oi. foi, the opinions we have fotined. 01)aill M¢Grady (Se for and on behalf of Chai'lei'ed Accountants Slatutoiy Auditors Ralhinore House 52 St Pati'i¢ks Aveniie Downpalrick Co. Down BT30 6DS io. Stat Auditoi.) ady&Co 27 OctobeL 2023
CUAN MHUIRE (NI) LIMITED Statement of Financial Aetivities (Incorporating an Income and Expenditure Aceount) FOR THE YEAR ENDED 31 MARCH 2023 3113123 Total funds 3113122 Total funds Unrestricted funds Restricted funds Notes INCOME AND ENDOWMENTS FROM Donations and legacies 62,896 500 63,396 99,634 Inveslnlent incorne Other income 576 784,526 576 1,524,051 1,208 928,830 739,525 Total 847,998 740,025 1,588,023 1,029,672 EXPENDITURE ON Chgritable activitie5 Alcohol & Drugs Rehabilitation Community Development & Health Network 745,033 633,088 1,378,121 1,237,672 12,000 Other 3,265 3,265 1,860 Total 748,298 633,088 1,381,386 1,251,532 NET INCOME/(EXPENDITURE) 99,700 106,937 206,637 (221,860) RECONCILIATION OF FUNDS Total funds brought forward 8,279,582 50,173 8,329,755 8,551,615 TOTAL FUNDS CARRIED FORWARD 8,379,282 157,110 8,536,392 8,329,755 The notes fonn part of these fm8ncial statements
CUAN MHUIRE (NI) LIMITED (REGISTERED NUMBER: N1034969) Balanee Sheet 31 MARCH 2023 3113123 3113122 Notes FIXED ASSETS Tangible assets 12 6,600,898 6,280,687 CURRENT ASSETS Stocks Debtors Cash at bank and in hand 13 14 12,272 209,784 1,772,171 12,035 118,943 1,981,031 1,994,227 2,112,009 CREDITORS Amounts falling due within one year 15 (58,733) (62,941) NET CURRENT ASSETS 1,935,494 2,049,068 TOTAL ASSETS LESS CURRENT LIABILITIES 8,536,392 8,329,755 NET ASSETS ,536,392 8,329,755 FUNDS Unrestricted fi]nds Restricted funds 17 8J79,282 157,110 8,279,582 50,173 TOTAL FUNDS 8,536,392 8,329,755 The fmancial statements were approved by the Board of Trustees and authorised for issue on 27 October 2023 and were signed on its behalf by.. L Duffy- Trustee The notes form part of these fmancial statements io
CUAN MHUIRE (NI) LIMITED Cash Flow Statement FOR THE YEAR ENDED 31 MARCH 2023 3113123 3113122 Notes Cash flows from operating activities Cash generated from operations 299,979 153,594 Net cash provided by operating activities 299,979 153,594 Cash flows from investing activities Purchase of tangible fixed assets Sale of tangible fixed assets Interest received (509,415) (45,702) 162,917 1,208 576 Net cash (used in)Iprovided by investing activities (508,839} 118,423 Change in cash and cash equivalents in the reporting period Cash and cash equivalents at the beginning of the reporting period (208,860) 272,017 1,981,031 1,709,014 Cash and cash equivalents at the end of the reporting period 1,772,171 1,981,031 The notes forn) part of these fmancial statemeThts
CUAN MHUIRE (ND LIMITED Notes to the Cash Flow Statement FOR THE YEAR ENDED 31 MARCH 2023 RECONCILIATION OF NET INCOME/IEXPENDITURE} TO NET CASH FLOW FROM OPERATING ACTIVITIES 3113123 3113122 Net ineomel(expenditure) for the reporting period (as per the Statement of Financial Activities) Adjustments for: Depreciation charges Loss on disposal of fixed assets Interest received Increase Rn stocks (Increase)/de¢rease in debtors Decrease in creditors 206,637 (221.860) 189,204 183,816 66,356 (1,208) (4,788) 208,905 (77,627) (576) (237) (90,841) (4,208) Net cash provided by operation5 299,979 153,594 ANALYSIS OF CHANGES IN NET FUNDS At 114122 Cash flow At 3113123 Net cash Cash at bank and in hand 1,981,031 (208,860) 1,772,171 1,981,031 (208,860) 1,772,171 Total 1,981,031 (208,860) 1,772,171 The notes fonn part of these fmancial statements 12
CUAN MHUIRE (ND LIMITED Notes to the Finaneial Statements FOR THE YEAR ENDED 31 MARCH 2023 ACCOUNTING POLICIES Basis of preparing the financial statement5 The fmancial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordan¢e with the Charities SORP (FRS 102) '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) (effective l January 2019),, Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Coinpanies Act 2006. The fll)ancial statements have been prepared under the historical cost Convention. Income All income is re¢ognAs¢d in the Statement of Financial Activities once the charity has entitlement to the fund5, it is probable that the income will be received and the amount can be measured reliably. Expenditure Liabilities are recolSed as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis con51Stent with the use of resources. Tangible fjxed assets Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. Freehold property Plant and machinery Fixtures and fittings Motor vehicles Computer equipment 20/0 on cost 200/0 on reducing balance 200/0 on reducing balance 20010 on reducing balance 200/0 on reducing balance Stocks Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Taxation The charity 15 exempt from corporation tax on its charitable activities. Fund accounting Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.Unrestricted funds include a revaluation reserve representtng the restatement of fjxed assets at market values. Designated lld$ are unrestricted fund5 eannarked by the Management Committee for particular purposes. 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 fmancial statements. Hire purchase and leasing commitments Rentals paid under operating leases are charged to the Statement of Financial ActLVlties on a straight line basis over the period of the lease. 13 continued...
CUAN MHUIRE (NI) LIMITED Notes to the Financial Statements- continued FOR THE YEAR ENDED 31 MARCH 2023 ACCOUNTING POLICIES - continued Pension costs and other post-retirement benefits The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they Telate. DONATIONS AND LEGACIES 3113123 3113122 Donations received 63,396 99,634 NVESTMENT INCOME 3113123 3113122 Deposit account interest 576 1,208 OTHER INCOME 3113123 3113122 General income Inhouse income Capital ant income 1,211,665 193,545 118,841 816,630 112,200 1,524,051 928,830 General income 2023 2022 Supporting People NI Housing Executive HSCB Strategic Planning & Perfonnance Group BSO Residents contributions 401,715 268,851 165,000 33,000 20,969 320 172 209,185 183,487 165.000 233 448 1209 707 791 120 Grant income 2023 2022 Sisters of Mercy Community Development & Health Network 1,958 13,510 Total For Year 1211665 816 630 14 continued...
CUAN MHUIRE (NI) LIMITED Notes to the Financial Statements - continued FOR THE YEAR ENDED 31 MARCH 2023 CHARITABLE ACTIVITIES COSTS Support costs (see note 6) Direct Cost5 Totals Alcohol & Drugs Rehabilitation 856,332 521,789 1,378,121 SUPPORT COSTS Governanc¢ costs Management Finance Totals Alcohol & Drugs Rehabilitation 510,417 7,122 4,250 521,789 Included within governance costs are audit fees of £4,250 (2022 - £3,000) NET INCOME/(EXPENDITURE) Net income/(expenditure) is stated after chargIn(CredIting). 3113ll3 3113ll2 Auditors, remuneration Depreciation- owned assets Other operating leases Deficit on disposal of fixed assets 4,250 189,204 10,407 3,000 183,816 6,185 66,356 TRUSTEES, REMUNERATION AND BENEFITS There were no trustees, remuneration or other benefits for the year ended 31 March 2023 nor for the year ended 31 March 2022. Trustees, expenses There were no tru5tees' expenses paid for the year ended 31 March 2023 nor for the year ended 31 March 2022. STAFF COSTS 3113123 3113122 Wages and salaries Social security Costs Other pension costs 566,096 38,643 9,476 535,496 35,441 9,751 614,215 580,688 The average monthly Thumber of employees during the year was as follows.. 3113123 38 3113122 36 Total number of staff No employees received emoluments in excess of £60,000. 15 continued...
CUAN MHUIRE (ND LIMITED Notes to the Financial St8tements- continued FOR THE YEAR ENDED 31 MARCH 2023 io. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted funds Restricted funds Total funds INCOME AND ENDOWMENTS FROM Donations and legacies 99,634 99,634 Investment income Other income 1,208 542,645 1,208 928,830 386,185 Total 643,487 386,185 1,029,672 EXPENDITURE ON Charitable activities Alcohol & Drngs Rehabilitation Community Development & Health Network 623,687 613,985 12,000 1,237,672 12,000 Other 1,860 1,860 Total 625,547 625,985 1,251,532 NET INCOMEI(EXPENDITURE) 17,940 (239,800) (221,860) RECOI4ICILIATION OF FUNDS Total funds brought forward 8,261,642 289,973 8,551,615 TOTAL FUNDS CARRIED FORWARD 8,279,582 50,173 8,329,755 ii. GOING CONCERN The fmancial statements have been prepared on the assumption that the company 15 able to carry on its business as a going concern which the directors consider appropriate having regard to ihe results of the fanCIal year. On this basis the directors consider it appropriate to prepare the fanCIal statements on a going concern basis. However should the company not be able to meet its commitments long tenn the going concern basis used in preparing the company's fmancial statements may be invalid and adjustments would have to be made to adjust the value of its assets to their realiable amount and to provide for any further liabilities which may arise. The financial statements do not include any adjustment to the company's assets or liabilities that might be necessary should this basis not continue to be appropriate. 16 continued...
CUAN MHUIRE (NI) LIMITED Notes to the Finaneial Statements- continued FOR THE YEAR ENDED 31 MARCH 2023 12. TANGIBLE FIXED ASSETS Fixture5 and rittings Freehold property Plant and machinery COST At l April 2022 Additions 8,134,380 480,392 113,339 29,023 37,518 At 31 March 2023 8,614,772 142,362 37,518 DEPRECIATION At l April 2022 Charge for year 1,940,424 171,859 34,078 15,852 35,071 489 At 31 March 2023 2,112,283 49,930 35,560 NET BOOK VALUE At 31 March 2023 6,502,489 92,432 1,958 At 31 March 2022 6,193,956 79,261 2,447 Motor vehicles Computer equipment Totals COST At l April 2022 Additions 12,700 16,417 8J14,354 509,415 At 31 March 2023 12,700 16,417 8,823,769 DEPRECIATION At l April 2022 Charge for year 8,798 780 15,296 224 2,033,667 189,204 At 31 March 2023 9,578 15,520 2,222,871 NET BOOK VALUE At 31 March 2023 3,122 897 6,600,898 At 31 March 2022 3,902 1,121 6,280,687 17 continued...
CUAN MHUIRE (NI) LIMITED Notes to the Financial Statements- continued FOR THE YEAR ENDED 31 MARCH 2023 13. STOCKS 3113123 3113122 Stocks 12,272 12,035 14. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 3113123 3113122 Trade debtors Prepayments and accrued income 94,828 114,956 59,012 59,931 209,784 118,943 15. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 3113123 3113122 Trade creditors VAT Accruals and deferred income 31,475 2,659 24,599 24,190 1,836 36,915 58,733 62,941 io. ANALYSIS OF NET ASSETS BETWEEN FUNDS 3113123 Total funds 3113122 Total funds Unrestricted funds Restricted funds Fixed assets Current assets Current lÈabilities 6,533,606 1,904,409 (58,733} 67,292 89,818 6,600,898 1,994,227 (58,733) 6,280,687 2,112,009 (62,941) 8,379,282 157,110 8,536,392 8,329,755 17. MOVEMENT IN FUNDS Net movement in funds At 3113123 At 114122 Unrestricted funds General fund 8,279,582 99,700 8 J79,282 Restricted funds Restricted Fund 50,173 106,937 157,110 TOTAL FUNDS 8,329,755 206,637 8,536,392 18 continued...
CUAN MHUIRE (ND LIMITED Notes to the Financial Statements- continued FOR THE YEAR ENDED 31 MARCH 2023 17. MOVEMENT IN FUNDS- continued Net movement in funds, included in the above are as follows: Ineoming resourees Resources expended Movement in funds Unrestricted funds General fund 847,998 (748,298) 99,700 Restrict¢d funds Restricted Fund 740,025 (633,088) 106,937 TOTAL FUNDS 1,588,023 (1,381,386) 206,637 Comparatives for movement in funds Net movement in fund5 At 3113122 At 114121 Unreslricted funds General fi]nd 8,261,642 17,940 ,279,582 Restricted funds Restricted Fund 289,973 (239,800) 50,173 TOTAL FUNDS 8,551,615 (221,860) 8,329,755 Comparalive net movement in fund5, included in the above are as follows.. Incoming resourees Resources expended Movement in funds Unrestricted funds General fund 643,487 (625,547) 17,940 Restyicted funds Restricted Fund Community Development & Health Network 374,185 (613,985) (239,800) 12,000 (12.000) 386,185 (625,985) (239,800) TOTAL FUNDS 1,029,672 (1,251,532) {221,860) 19 contlnued...
CUAN MHUIRE (NI) LIMITED Notes to the Financial Statements - continued FOR THE YEAR ENDED 31 MARCH 2023 17. MOVEMENT IN FUNDS - continued A cuent year 12 months and prior year 12 months combined position is as follows: Net movement in funds At 3113123 At 114121 Unrestrieted funds General fund 8,261,642 117,640 8,379,282 Restricted funds Restricted Fund 289,973 (132,863) 157,110 TOTAL FUNDS 8,551,615 (15,223) 8,536,392 A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follow5.. Incoming resources Resources expended Movement in funds Unrestricted funds General fund 1,491,485 (1,373,845) 117,640 Restricted funds Restricted Fund Community Development & Health Network 1,114.210 (1,247,073) (132,863) 12,000 (12,000) 1,126,210 (1,259,073) (132,863) TOTAL FUNDS 2,617,695 (2,632,918) (15,223) 18. CAPITAL COMMITMENTS 3113123 3113122 Contracted but not provided for in the fLnancial statements I,ioo,000 1,500,000 Cuan Mhuire (Nl) Limited has under construction additional residential units at their site on the Dublin Road. Work commenced in the year ended 31 March 2023 and is anticipated to be completed by December 2023 There were no further capital comrnitments either contracted for or entered into in Tespect of any other project. 20 conttnued...
CUAN MHUIRE (NI) LIMITED Notes to the Financial Statements- continued FOR THE YEAR ENDED 31 MARCH 2023 19. RELATED PARTY DISCLOSURES There were no related party transactions for the year ended 31 March 2023. 21