Social Change Initiative
Company Limited by Guarantee
Statement of Financial Activities
(including income and expenditure account)
Year ended 31 March 2024
2024
Restricted
funds Total funds Totsl funds
2023
Unrestricted
funds
Income and endowments
Charitable activities
Other trading activities
Investment income
44.818
184,142
228.960
72,860
1,245
115,449
169.585
169.585
Total income
214.403
184,142
398,545
189,554
Expenditure
Expenditure on charitable activits'es
Total expendituro
37.038
1.058.963
1.096,001
1,192,388
37.038
1.058.983
1.096,001
1.192.388
Net losses on investrnents
10
{2.699)
(2.699) (321,507)
Net expenditure
174.666
(874,821) (700,155) (1,324,341)
Transfers between funds
49.672
(49.672)
Net movement in funds
224.338
(924.493) (700.155) (1,324,341)
Reconciliatlon of funds
Total funds brought forward
Total funds carrled foNard
886,050
4,243,987
5,130,037
4,429,882
6,454.378
1,110.388
3,319,494
5,130.037
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
The notes on pages 17 to 31 fonn part of these financial statements.
14

Social Change Initiative
Company Limited by Guarantee
Statement of Financial Position
31 March 2024
2024
2023
Nole
Fixed assots
Tangible fixed assets
Investmènts
15
7,680
16 3.298.203
8,354
3,867.938
3,876.290
3.305.883
Current assets
Debtors
Investments
Cash at bank and in hand
17
18
4,253
952,022
210.894
6,155
1,187,783
118,026
1.167,169
1.311,964
Creditors: amounts falling due withln one year
Net current assets
20
43.170
58.217
1,123,999
4.429,882
4.429,882
1,253,747
5,130,037
Total assets less current liabilities
Net assets
5,130,037
Funds of the charity
Restricted funds
Unrestricted funds
3.319.494
1.110,388
4,243,987
886.050
Total charity fund5
4.429,882
5.130,037
These financial statements have been prepared in accordance with the prowsions applicable to
ompanies subject to the small companies. regime.
These financial statement5 were approved by the board of trustees and authorised for issue on 15
November 2024. and are signed on behalf of the board by:
Maggie Beirne
Trustee
The notes on pages 17 to 31 forni part of these financial statements.
15

Social Change Initiative
Company Limited by Guarantee
Statement of Cash Flows
Year ended 31 March 2024
2024
2023
Cash flows from operating activities
Net expenditure
(700,155) (1,324,341)
Adjustments for
Depreciation of tangible fixed assets
Net losses on investments
Dividends. interest and rents from investments
Other interest receivable and similar income
Interest payable and similar charges
Accrued {income)lexpenses
1.893
2,699
(167.265)
(2,320)
487
(15,110)
2,917
321,502
(114.873)
(576)
596
2.190
Changes in..
Trade and other debtors
Trade and other creditors
1,902
63
3.840
5,921
(877,806) {1,102.824)
Cash generated from operations
Interest paid
Interest received
(487)
2,320
(875,973) (1,102,844)
{596)
576
Net cash used in operating activities
Cash flows from investing activities
Dividends, interest and rents from investments
Purchase of tangible assets
Purchases of other investments
Proceeds from sale of other investments
167,265
114,873
(1,219)
(744)
(1.703,032) (1,425,105)
1.868,173
1,352,220
41,244
Net cash from investing activiti'es
331,187
N8t decrease in cash and cash equivalents
Cash and cash equivalents at beginning of year
Cash and cash equivalents at end of year
(544.786) {1,061,600)
1,305,809
2,367,409
19
761,023
1,305.809
The notes on pages 17 to 31 forni part of these financial ststements.
16

Social Change Initiative
Company Limited by Guarantee
Notes to the Financial Statements
Year ended 31 March 2024
General inforniation
The charty is a public benefft entity and a private company limited by guarantee, registered in
Northern Ireland and a registered charty in Northem Ireland. The address of the registered office
is 3rd Floor. Wellington Buildings, 24 Wellington Stree( Be￿as[ BT16HT.
statement of compliance
These financial statements have been prepared in compliance with FRS 102. 'The Financial
Reporting Standard applicable in the UK and the Republic of Ireland,, the 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) (Charities
SORP (FRS 102)) and the Companies Act 2006.
Accounting policies
Basis of preparation
The financial statements have been prepared on the hlstorfcal cost basis, as modiffed by the
revaluation of certain financial assets and liabilities and investment properties measured at fair
value through income or expenditure.
The financial statements are prepared in sterling, which is the functional cU￿encY of the entity.
Going concern
There are no material uncertainties about the charity's abilty to continue.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements. estimates
and assumptions that affect the amounts reported. These estimates and judgements are
continually reviewed and are based on experien￿ and other factors. including expectations of
future events that are believed to be reasonable under the circumstances.
Fund accounting
Unrestricted funds are available for use at the drscretion of the tnjstees to fijrther any of the
charity's purposes.
Designated fund5 are unrestricted funds earmarked by the trustees for particular future project or
commitmenL
Restricted funds are subjected to restrictions on their expenditure declared by the donor or through
the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment
funds.
17

Social Change Initiative
Company Limited by Guarantee
Notes to the Financial Statements (conbnu8d)
Year ended 31 March 2024
Accounting policies (￿ntinued)
Incomlng resources
All incoming resources are included in the statement of financial actwities when entitlement has
passed to the charity" it is probable that the economic benefits associated with the transaction will
flow to the charity and the amount can be reliabty measured. The following specific policies are
applied to particular categories of income:
income from donations or grants is recognised when there is evidence of entitlement to the
gift. receipt is probable and tis amount can be measured reliably.
legacy income is recognised when receipt rs probable and entitlement is established.
income from donated goods is measured at the Pdir value of the goods unless this is
impractical to measure reliabty, in which case the value is derived from the cost to the donor
or the estimated resale value. Donated facilities and ServI￿S are recognised in the accounts
when received if the value can be reliabty measured. No amounts are included for the
contribub'on of generdl vOlun￿r5.
income from contracts for the supply of services is recognised with the delNery of the
contracted service. This is classified as unrestricted funds unless there is a contractual
requirement for it to be spent on a particular purpose and retumed rf unspent, in which case
it may be regarded as restricted.
Resources expended
Expenditure is recognised on an accruals basis a5 a liabiltty 15 incurred. Expenditure includes any
VAT which cannot be fiJlly recovered. and is dassified under headings of the statement of financial
activities to which it relates..
expenditure on raising funds includes the costs of all fundraising activities, events, non-
charitable trading activities. and the sale of donated goods.
expenditure on charitable activities includes all costs incurred by a charity in undertaking
activities that further its charitable aims for the benefit of tts beneficiaries, including those
support costs and costs relating to the govemance of the charity apportioned to charitable
acb'vities.
other expenditure includes all expenditure that is neither related to raising fvnds forthe charity
nor part of its expenditure on charitable actwities.
All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs
attributable to a single activity are allocated directy to that actNty. Shared costs are apportioned
be￿een the activities they contribute to on a reasonable. justifhable and consistent basis.
Tangible assets
Tangible assets are initially recorded at cost. and subsequently stated at cost less any accumulated
depreciation and impaiment losses. Any tangible assets Ca￿led at revalued amounts are recorded
at the fair value at the date of revaluation less any subsequent accumulated depreciation and
subsequent accumulated impairment losses.
18

Social Change Initiative
Company Limited by Guarantee
Notes to the Financial Ststements (¢othinuedJ
Year ended 31 March 2024
Accounting policies {c¢Jnlinued)
Tangible assets (eontinu
An increase in the carying amount of an asset as a resutt of a revaluation, is recognised in other
recognised gains and losses, unless it reverses a charge for impaimient that has previously been
recognised as expenditure within the ststement of financial activities. A decrease in the carrying
amount of an asset as a result of revaluation. is recognised in other recognised gains and losses,
except to which it offsets any previous revaluation gain. in which case the loss is shown within
other recognised gains and losses on the statement of financial activities.
Depreciation
Depreciation is calculated so as to write off the cost or valuats'on of an asset, less its residual value.
over the useful economic life of that asset as follows:
Equipment
20% straight line
Investments
Unlisted equity investments are initially recorded at cost, and subsequently measured at fair value.
If fair value cannot be reliably measured. assets are measured at Cost le33 impairment
Listed investments are measured at fair value with changes in fair value being recognised in
income or expendrture.
Inveslments in associates
Investments in associates accounted for in accordance with the cost model are recorded at cost
less any accumulated impaimient losses.
Investments in associates accounted for in accordan￿ with the fair value model are initially
recorded at the transaction price. At each reporting date, the investments are measured at fair
value, with changes in fair value taken through income or expenditure. lthere it is impracticable to
measure fair value reliabty without undue cost or effort, the cost mcKlel will be adopted.
Dividends and other distributs'ons re￿iVed from the investment are recognised as income wtthout
regard to whether the distributions are from accumulated profits of the associate arising before or
after the date of acquisition.
Investments In joint ventures
Investments in jointly controlled entities accounted for in accordance with the cost model are
corded at cost less any aGGumulated impairment losses.
Investments in jointly controlled entities accounted for in accordance with the fair value model are
initially recorded at the transaction price. At each reporbng date. the investrnents are measured at
fair value, with changes in fair value taken through income or expenditure. IM7ere it is impracticable
to measure fair value reliably without undue cost or effor( the cost model will be adopted.
19

Social Change Initiative
Company Limited by Guarantee
Notes to the Financial Statements (conthued)
Year ended 31 March 2024
Accounting policies (¢onb"nuedJ
Investments in joint ventures (conUnu•rfJ
Dividends and other distributions received from the investment are recognised as income without
regard to whether the distributions are from accumulated profits of the joint venture arising before
or after the date of acquisition.
Impalmient of r￿ed assets
A review for indicators of impaimient is carried out at each reporting date, with the recoverable
amount being estimated where such indicators exist IAlhere the carrying value exceeds the
recoverable amount, the asset is impaired accordingty. Prior impairments are also reviewed for
possible reversal at each reporting date.
For the purposes of impairment testsng. when It Is not possible to ests.mate the recoverable amount
of an individual asset, an estimate is made of the recoverable amount of the cash4Jenerating unit
to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets
that includes the asset and generates cash inflows that largely Independent of the cash inflows
from other assets or groups of assets.
For impaiment testing of goodwill, the goodwill acquired in d bu¥iiiess Gornbinatiori 15, from the
acquisib'on date. allocated to each of the cash4Jenerats"ng units that are expected to benefit from
the synergies of the combination, irrespective of whether other assets or liabilities of the charity
are assigned to those units.
Financial instruments
A financial asset or a financial liabilty is recognised only when the charity becomes a party to the
contractual provisions of the instrument.
Basic financial instruments are initially recognised at the amount recetvable or payable including
any related transaction costs.
Current assets and current liabilities are subsequently measured at the cash or other consideration
expected to be paid or re￿iVed and not discounted.
Debt instruments are subsequenty measured at amortised cost
VQhere investments in shares are publicty traded or their fair value can otherwise be measured
reliably, the investment is subsequently measured at fair value with changes in fair value
recognised in income and expenditure. All other such investments are subsequently measured at
cost less impairmenL
other financial instruments, including derivatives, are initially recognised at fair value, unless
payrnent for an asset is deferred beyond nomial business terms or financed at a rate of interest
that is not a market rate, in which case the asset is measured at the present value of the future
payments discounted at a market rate of interest for a similar debt instrument.
other financial instruments are subsequently measured at fair value, wilh any Ghanges recognised
in the statement of financial activities. with the exception of hedging instruments in a designated
hedging relationship.
20

Social Change Initiative
Company Limited by Guarantee
Notes to the Financial Statements (¢onfrnuedJ
Year ended 31 March 2024
Accounting policies (continued)
Ftnancial inGtruments (contsnuedj
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence
of impairment at the end of each reportrng date. If there is objective evidence of impairment, an
impairment loss is recognised under the appropriate heading in the ststement of financial acts'vities
in which the initial gain was recognised.
For all equity instruments regardless of significan￿, and other financial assets that are individually
significant, these are assessed indrvidually for impaiment. other financial assets are either
assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised immediately, to the extent that the reversal does not
result in a carying amount of the financial asset that exceeds what the carying amount would
have been had the impairment not previously been recognised.
Defined Contribution plans
Contributj'ons to defined contributton plans are recognised as an expense in the period in which
the related service is provided. Prepaid contributions are recognised as an asset to the extent that
the prepayment will lead to a reduGtion in future payrnents or a cash refund.
then contributions are not expected to be setued wholly within 12 months of the end of the
reporting date in which the employees render the related service, the liability is measured on
discounted present value basis. The unwinding of the discount is recognised as an expense in the
period in which it arises.
Limited by guarantee
The Social Change Initiative is a company limited by guarantee govemed by its Memorandum and
Articles of Association dated 31st October 2017.lts application to be recognised as a charity was
accepted by the Charity Commission for Nothem Ireland on 30th April 2018.
21

Social Change Initiative
Company Limited by Guarantee
Notes to the Financial Statements (eonknuedj
Year ended 31 March 2024
Charitable activities
Unrestricted
Funds
Restricted Total Funds
Funds
2024
Fees for Semce Work
CFI - Trim Convening
Rowan Trust - Trim Convening
Human Rights 360- return of unused thnds
CFI - Philanthropy Conf.
Miscellaneous Income
Porticus- World Values Survey
Joseph Rowntree Charitable Trust- Philanthropy
Conf.
CFNI - Philanthropy Conf.
DFA- Supporting Palestinian Women in Leadership
DFA- World Values Follow Up
Porticus - Strengthening Activist Supports First
instalment
DFA- Philanthropy Conf.
Foreign, Commonwealth & Devebpment offi￿ -
Philanthropy Conf.
International Fund Ireland - Philanthropy Conf.
Communty Foundation Ireland- All Ireland Convening
27,435
12,649
4,535
27,435
12.649
4,535
35.764
12,451
199
35.764
12,451
199
10,000
13.000
20,081
21,085
10,000
13,000
20,081
21.085
50,000
4,261
50.000
4,261
7.500
10,000
7,500
10,000
44,818
184.142
228,960
Unrestricted
Funds
Restricted Total Funds
Funds
2023
Fees for Service Wlork
CFI - Trim Convening
Rowan Trust- Trim Convening
Human Rights 360- retum of unused funds
CFI Philanthropy Conf.
MiscellaneDUS Income
PortiCUS- Wodd Values Survey
Joseph Rowntree Charitable Trust- Philanthropy
Conf.
CFNI - Philanthropy Conf.
DFA- Supporting Palestinian Women in Leadership
DFA- World Values Follow Up
Porticus - Strengthening Activist Supports First
instalment
DFA- Philanthropy Conf.
Foreign, Commonwealth & Development Office -
Philanthropy Conf.
Intemational Fund Ireland- Philanthropy Conf.
Community Foundab'on Ireland- All Ireland Convening
32,037
32,037
1,244
1.244
10.000
10,000
1,000
1.000
3.000
3.000
25.579
25,579
72.860
34,281
38.579
22

Social Change Initiative
Company Limited by Guarantee
Notes to the Financial Statsments {coneinuedJ
Year ended 31 March 2024
Other trading activities
Unrestricted Total Funds Unrestricted Total Funds
Funds
2024
Funds
2023
Sale of Assets
1,245
1,245
Investment income
Unrestricted Total Funds Unrestricted Total Funds
Funds
2024
Funds
2023
Income from listed investments
Bank interest received
167,265
2,320
169.585
167,265
2,320
169,585
114.873
576
114,873
576
115.449
115,449
Expenditure on charitable actlvftles by fund type
Unrestricted
Funds
RestrÉcted Total Funds
Funds
2024
Support of Social Change
Support costs
37,038
911,984
146,979
949,022
146,979
1,096,001
37.038
1.058,963
Unrestricted
Funds
Restricted Total Funds
Funds
2023
Support of Social Change
Support costs
1,019,874
172.514
1.019,874
172,514
1,192,388
1,192.388
Analysis of support Costs
Analysis of
support costs Total 2024 Total 2023
Staff costs
Premises
Communications and IT
General office
Govemance costs
69,059
43,438
13.160
8,278
13.044
69,059
43,438
13,160
8,278
13,044
146,979
76,945
56,319
11,216
12,932
15,102
146,979
172,514

Social Change Initiative
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2024
10. Net losses on investments
Unrestricted Total Funds Unrestricted Total Funds
Funds
2024
Funds
2023
Gainsl(losses) on listed investments
(2.699)
(2,699) (321,507) {321,507)
11. Net expenditure
Net expenditure is stated after chargingl(crediting):
2024
2023
Depreciation of tangible fixed assets
1,893
2,917
12. Auditors remuneration
2024
2023
Fees payable for the audit of the financial statements
4.265
3,810
13. Staff costs
The total staff costs and employee beneffts for the reporbng period are anatysed as foll0v￿..
2024
2023
Wages and salaries
Social security costs
Employer contributions to pension plans
Other employee benefits
523,174
67.781
77,079
23,374
581.273
78.184
87.191
22,807
691,408
769,455
The average head count of employees during the year was 5 (2023.. 6).
The number of employees whose remunerdtion for the year fell within the following bands, were:
2024
2023
No.
No.
£60,000 to £69.999
£70,000 to £79,999
£80,000 to £89,999
£130,000 to £139,999
£190,000 to £199.999
Key Management Personnel
Key management personnel include all persons that have authority and responsibility for planning,
directing and controlling the activities of the charity. The total compensation paid to key
management personnel for services provided lo the charty was £512,608 (2023". £514,438>.
24

Social Change Initiative
Company Limited by Guarantee
Notes to the Financial Statements (conlinuedj
Year ended 31 March 2024
14. Trustee remuneration and expenses
The organisations trustees were not paid or received any other benefits from employment with the
organisation in the year. They were reimbursed travel expenses during the year totalling £103
{2023'. £2,229) None of the organisations trustees receNed payment for professional or other
services supplies to the organisation.
15. Tangible fixed assets
Fixiures and
fittings
Equipment
Total
Cost
At 1 April 2023
Additions
5,000
15,576
1,219
16,795
20,576
1,219
21.795
At 31 March 2024
5,000
Depreciation
At 1 April 2023
Charge for the year
At 31 MarGh 2024
12.222
1.893
12.222
1.893
14.115
14.115
Carrying amount
At 31 March 2024
5.000
2.680
7.680
At 31 March 2023
5,000
3.354
8.354
16. Investments
Listed
investments
Cost or valuation
At 1 April 2023
Additions
Disposals
Fair value movements
3,867,936
1,703,032
(1,635,111)
(637,654)
3,298,203
At 31 March 2024
Impaimient
At 1 April 2023 and 31 March 2024
Carrying amount
At 31 March 2024
3.298,203
3,867,936
At 31 March 2023
All investments shown above are held at valuation.
Financial assets held at falrvalue
All investments shown above are held at valuation
25

Social Change Initiative
Company Limited by Guarantee
Notes to the Financial Statements (confinued)
Year ended 31 March 2024
17. Debtors
2024
2023
Trade debtors
Prepayments and accrued incorr
Other debtors
3,000
2.622
533
3,720
533
4.253
6,155
18. Investments
2024
2023
Bank investments
952,022
1.187.783
19. Cash and cash equivalents
Cash and cash equivalents comprise the following:
2024
2023
Cash at bank and in hand
Short-term deposits
210,894
952,022
118,026
1,187,783
1,305,809
1.162,916
20. Creditor5: amounts falling duo within one year
2024
2023
Trade creditors
Accruals and deferred income
Social security and other taxes
other creditors
1,169
12,544
22.242
7,215
872
27,654
22,944
6,747
43,170
58,217
21. Penslons and other post retirement benefits
Defined contribution plans
The amount recognised in income or expenditure as an expense in relab'on to defined contribution
plans was £77,079 (2023: £87.191).
26

Social Change Initiative
Company Limited by Guarantee
Notss to the Financial Statements (￿lI•nuedJ
Year ended 31 March 2024
22. Analysis of charitable funds
Unrestricted funds
At
1 Apr 2023
Gains and
At
losses 31 Mar 2024
Income Expendtiure
Transfers
General funds
886,050
214,403
{37,038)
49,672
{2,699) 1,110.388
At
1 Apr 2022
Gains ancl
At
losses 31 Mar 2023
Income Expenditure
Transfers
General funds
1.026,656
150.975
29,926
(321.507)
886.050
Restricted funds
At
1 Apr 2023
Gains and
At
kisses 51 Mar 2024
Income Expenditure
Transfers
Atlantic
Philanthropies
Atlantic
Philanthropies-
Fellowships
Atlantic
Philanthropies -
Migration
Atlantic
Philanthropies -
Assets in Kind
PortiCUS-
Fellowship and
Mentoring
Atlantic
Philanthropies-
Migration
Narrative
Porticus Nl
Shared Education
and learning
Porticus
monitoring hate
and tension
Joseph Rowntree
CFNI
3,479.392
(808,969)
478,893
3,149,316
39.313
(33,221)
(6.092)
234,025
(8.175) (225,850)
5,000
(5,000)
12,153
(12,153)
200,680
213.399
35.764
{236,444)
(105,511) (37,799)
70,089
29,057
29,057
16.197
16,197
10.000
(10,000)
5,000
(5,000)

Social Change Initiative
Company Limited by Guarantee
Notes to the Financial Statements (con(InuedJ
Year ended 31 March 2024
22. Anatysis of charitable funds (continuedj
Communty
Foundation
Ireland- All Ireland
Convening
Porticus- World
Values Survey
DFA- Supporbng
Palestinian
Women's
Leadership
DFA- Ildvs
Porticus-
Strengthening
Activist Supports
{229)
229
10.000
(10.000)
20.081
21.085
(20.257)
(12.530)
176
(632)
7.923
50.000
(3.088)
46.912
DFA- P&P
Conference
FCDO- P&P
Conference
IFI P&P
Conferen
CFI - P&P
Conference
CFNI- P&P
Conference
4.261
(4,261)
7.500
(7.500)
10.000
{10,000)
12.451
(12,451)
13.000
(13.000)
184,142 {1,058,%3) (49,672)
4,243,987
3,319,494

Social Change Initiative
Company Limited by Guarantee
Notes to the Financial Statsments (co￿¥nUed)
Year ended 31 March 2024
22. Anatysis of charitable funds (¢ontlnued)
At
1 Apr 2022
Gains and
At
losses 31 Mar 2023
Income Expenditure
Transfers
Atlantic
Philanthropies
Atlantic
Philanthropies-
Fellowships
Atlantic
Philanthropies -
Migration
Atlantic
Philanthropies-
Assets in Kind
Poiticus-
Fellowship and
Mentoring
Atlantic
Philanthropies-
Migration
Narrakn've
4,354,748
(902,731)
27,375
3.479,392
71,218
{31.905)
39,313
304,657
(62.457)
(8,175)
234.025
5,000
5,000
12,153
12.153
200.680
200,680
29

Social Change Initiative
Company Limited by Guarantee
Notss to the Financial Statements {¢onlinued)
Year ended 31 March 2024
22. Analysis of charitable funds (conbnuedj
Porticus Nl
Shared Education
and learning
Porticus
monitoring hate
and tension
Joseph Rowntree
CFNI
Communty
Foundation
Ireland- All Ireland
Convening
Porticus- Worfd
Values Survey
DFA- Supporting
Palestinian
Women's
Leadership
DFA- IMIS
Porticus -
strengthening
Activist Supports
DFA- P&P
Conference
FCDO- P&P
Conference
IFI - P&P
Conference
CFI - P&P
Conference
CFNI - P&P
Conference
399,615
(137.090) (49,126)
213,399
29,057
29,057
28.594
10.000
12,000
(12.397)
(10.000)
(10,000)
16.197
3.000
5.000
25,579
(25.808)
(229)
10,000
10,000
5,427.722
38,579 (1,192,388) (29,926)
4,243,987
Transfers have taken place during the year in relation to recharges for overheads between the
funds, these transfers totalled £49,672 (2023: £29,926)
30

Social Change Initiative
Company Limited by Guarantee
Notes to the Financial Statements (continuedj
Year ended 31 March 2024
23. Analysis of net assets between funds
Unrestricted
Funds
Restricted Totsl Funds
Funds
2024
Tangible fixed assets
Current assets
Creditors less than 1 year
Net assets
7,680
3,354.984
(43.170)
3,319.494
7,680
4.465,372
(43,170)
4,429,882
1.110.388
1,110.388
Unrestricted
Funds
Restricted Total Funds
Funds
2023
Tangible fixed assets
Current assets
Creditors less than 1 year
Net assets
8,354
4,334.877
(58.217)
4,285.014
8,354
5.179,900
(58,217)
5,130,037
845.023
845.023
24. Ethical standards
In common many other businesses of our size and nature we use our auditors to prepare and
submit returns to Ihe tsx authorities arKJ assist with the preparation of the financial statements.
25. Taxation
The Company is a registered charity. and as such is entitled to tax exemptions on income and
profits in furtherance of the charrtvs primary obJecb"ves.
26. Contingencies
A contingent liability exists to repay grants and Trust monies received should certain conditions
not be fulfilled by the charity. In the opinion of the Trustees, the terms of the Letters of Offers
have been. or will be. complied with and no liability is expected.
27. Analysis of changes in nel debt
At
At 1 Apr 2023 Cash flo￿￿ 31 Mar 2024
Cash at bank and in hand
Current asset investments
118,026
1,187,783
92,868
(235,761)
(142,893)
210,894
952,022
1.305,809
1,162,916
28. Related parties
The Trustees have considered guidance in retation to related paty transactions and believe there
are no transactions that require disclosure.
31