EARLY YEARS- THE ORGANISATION FOR YOUNG CHILDREN STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2025 Unrestricted Restricted funds funds 2025 2025 Total Unrestricted Restricted funds funds 2024 2024 Total 2025 2024 Notes Income frorn: Donations and legacies Charitable aclivities Other trading activities Investments 168.523 168,523 2.074,945 9.349.019 11.423,964 1.140,667 1,140.667 1.276 1.276 201,436 201,436 1.001,024 9.218,428 10.219,452 1,132,706 1,132,706 685 685 Total income 3.216,888 9.517.542 12.734.430 2.134,415 9.419,864 11.554.279 Expenditure on: Raising funds Charilable aclivities Other expenditure 314 411 725 2.998.370 9.505.249 12.503.619 708 708 2,490 4,992 7,482 2.104,898 8.861,627 10.966,525 13 Total expenditure 2.999.392 9.505.660 12.505.052 2.107.388 8.866.619 10.974,007 Net income 217.496 11.882 229.378 27.027 553.245 580.272 Transfers between funds 302,242 1302,2421 Nel movement in funds 10 217.496 11.882 229.378 329.269 251,003 580.272 Reconciliation of funds: Fund balances at 1 April 2024 979.342 290.4( 1.269.748 650.073 39.403 689.476 Fund balances at 31 March 2025 1,196,838 302,288 1,499,126 979,342 290,406 1,269,748 The slatement of financial aclivities includes all gains and losses recc#Jnised in the year. All income and expenditure derive from continuing activities. 16-
EARLY YEARS- THE ORGANISATION FOR YOUNG CHILDREN BALANCE SHEET AS AT 31 MARCH 2025 2025 2024 Notes Fixed assets Tangible assets 15 822.371 750.027 Current assets Stocks Debtors Cash at bank and in hand 16 17 13.965 415.355 3,421,716 23,583 676,382 1,706,129 3,851.036 2,406,094 Creditors: amounts falling due within one year 18 {3,139.534) 11,766,896) Net current assets 711.502 639.198 Total assets less current liabililies 1.533.873 1.389.225 Creditors: amounts falling due after more than one year 19 (34,747) (119,4771 Net assets 1,499,126 1,269,748 Tho funds of the charity Restricted income funds Unreslricled funds 302.288 1,196,838 290.406 979,342 23 1,499,126 1,269,748 The financial statements were approved by the Trustees on 16 September 2025 MT McDonagh, Chair Director R Park, Treasurer Director Company registration number N1023257 (Northem Ireland) 17-
EARLY YEARS- THE ORGANISATION FOR YOUNG CHILDREN STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2025 2025 2024 Notes Cash flows from operating aclivities Cash generated from operations 32 2,128,891 429,192 Investing activities Purchase of langible fixed assets Investment income received (64,875) 1.276 685 Net cash (used in)Igenerated from investing activities (63,5991 685 Financing activities Repayment of bank loans Payment of finance leases obligations (101.768) {6.025) {76,453) Net cash used in financing activities 1107,7931 (76,4531 Net increase in cash and cash equivalents 1,957,499 353,424 Cash and cash equivalents at beginning of year 529,292 175,868 Cash and cash equivalents at end of year 2.486.791 529.292 Relating to: Cash at bank and in hand Bank overdrafts included in creditors payable within one year 3,421,716 1,706,129 1934,9251 {1,176,8371 18-
EARLY YEARS- THE ORGANISATION FOR YOUNG CHILDREN NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Accounting policies Charity information Early Years - the organisalion for young children is a private company limited by guarantee incorporated in Northem Ireland. The registered ofFice is 6c Wildflower Way, Apollo Road, Belfast, BT12 6TA. 1.1 Accounting convenlion The financial statements have been prepared in accordance with the charity's Memorandum and Arlicles of Association. the Companies Act 2006 and 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (as amended for accounting periods commencing from 1 January 20191. The charity is a Public Benefit Entity as defined by FRS 102. The financial statements are prepared in sterting. which is the functional currency of the charity- Monetary amounts in these financial statements are rounded lo the nearest £. The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below. 1.2 Going Concern The charitable company had free reserves of £464,214 at 31 March 2025. This equates to approximately 8 weeks of unreslricled expenditure and is in line with the target set by the board at the most recent review of the reserves policy. Following the year end. managemenl accounts indicate that the charitable company has generated a further surplus in the period since 31 March 2025. In addition. detailed projections and cash flow forecasts have been prepared for the period to 31 December 2026. The projections prepared to 31 December 2026 indicate that there are adequate reSoUrS to enable the charitable company to continue to meet its financial obligations as they fall due for at least the next e1ve months after the date of signing these financial statements. Taking all factors into consideration. the directors are of the opinion that it is appropriate that the financial stalements are prepared on a going concem basis. 1.3 Charitable funds Unreslricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives. Restricted funds are subject to specific wnditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are sel out in the notes to the financial stalements. 1.4 Income Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably. and it is probable that income will be received. Cash donations are recognised on reipt. Other donations are recognised once Ihe charily has been notified of the donation, unless perfomiance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. 19-
EARLY YEARS- THE ORGANISATION FOR YOUNG CHILDREN NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Accounting policies {Continued) 1.5 Expenditure Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party. il 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 classified by activity- The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity- Direct costs attributable to a single activity are allocated directly to that activity- Shared costs which contribute to more than one activity and support costs which are not altributable to a single activity are apportioned belween those activilies on a basis consistenl with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the assel's use. Support costs are those costs incurred direcuy in supt)ort of expenditure on the objects of the charity. Govemance costs are those incurred in connection with administration of the charity and compliance with constilutional and statutory requirements. Costs of generating funds are costs incurred in attracting voluntary income. and those incurred in trading activities that raise funds. Charitable activilies and Governan costs are costs incurred on the cornpany's educational operations, including support costs and costs relating to the govemance of the company apportioned to charitable aclivities. All expenditure is inclusive of irrecoverable VAT. 1.6 Tangible fixed assets Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation. net of depreciation and any impaimient losses. Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases= Land and buildings Leasehold improvements Fixtures and fittings Computers Motor vehides 2% per annum straight line 40kn per annum straight line 15 % per annum straight line 330/0 per annum straight line 25% per annum straight line Freehold land and assets in the course of construction are not depreciated. The gain or loss arising on the disposal of an assel is delemiined as the dlfference belween the sale proceeds and the carrying value of the asset, and is recognised in the statemenl of financial activities. 1.7 Impaimient of fixed assets At each reporting end date, the charity reviews the carrying amounts of ils tangible assets to determine whether there is any indication that those assels have suffered an impairment loss. If any such indication exists, the recoverable arnount of Ihe asset is estimated in order lo determine the exlent of the impairment loss lif any). 1.8 Stocks Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, Whe applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. Items held for distribution at no or nominal consideration are measured at the lower of replament cost and cost. -20-
EARLY YEARS- THE ORGANISATION FOR YOUNG CHILDREN NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Accounting policies {Continued) Nel realisable value is the estimated selling Pri less all estimated costs of completion and costs lo be incurred in marketing, selling and distribution. 1.9 Cash and cash equivalents Cash and cash equivalents include cash in hand, deposits held at call with banks, olher short-lem liquid investments with original maturities of three months or less. and bank overdrafts. Bank overdrafts are shown within borrowings in currenl liabilities. 1.10 Financial instruments The charity has elected to apply the provisions of Section 11 'Basic Financial Instruments. and Section 12 'Other Financial Instmments Issues, of FRS 102 to all of its financial instruments. Financial instruments are recognised in the charity's balance sheet when the charity becomes paty to the contractual provisions of the instrument. Financial assets and liabilities are offset. with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention lo settle on a nel basis or to realise the asset and settle the liability simultaneously. Basic financial assets Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaclion cosls and are subsequently carried at amortised cost using Ihe effeclive interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future reiptS discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. Basic financial liabilities Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangemenl constitutes a financing transaction. where the debt inslrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequendy carried at amortised cosl, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operalions from suppliers. Amounts payable are classtfied as current liabililies rf payment is due within one year or less. If not, they are presented as n0n-cuent liabilities. Trade creditors are recognised initially at transaction price and subsequendy measured at amortised cost using the effective interest method. Derecognition of financial liabilities Financial liabililies are derecognised when the charivs contractual obligations expire or are discharged or cancelled. 1.11 Employee benefits The cost of any unused holiday entiuement is recognised in the period in which the employee's services are received. Termination benefits are recognised imrnediately as an expense when Ihe charity is demonstrably committed to terminate the employment of an employee or to provide temiinalion benefits. 1.12 Retirement benefits Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due. 21
EARLY YEARS- THE ORGANISATION FOR YOUNG CHILDREN NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Accounting policies {Continued) 1.13 Leases Leases are classified as finance leases whenever the temis of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classtfied as operating leases. Assets held under finance leases are recognised as assets at the lower of the assets fair value at the dale of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The inlerest is charged to net incomel{expenditure) for the year so as to produce a conslanl periodic rate of interest on the remaining balance of the liability- 1.14 Operating leases Rentals under operating leases are charged to the Statement of Financial Activities incorporating Income and Expenditure Account on a straight line basis over the lease tem. 1.15 Foreign currencies Monetary assets and liabilities denominated in foreign currencies are translated into sterfing at rates of exchange ruling at the balan sheet date. Transactions in foreign currencies are translated into steding at the rate ruling on the date of the transaction. Exchange gains and losses are recognise(l in the Ststement of Financial Activities incorporating Income and Expenditure Account. Crilical accounting estimates and judgements In the application of the charity's accounting policies, the Trustees are required to make judgements, eslimales and assumptions about Ihe carying amount of assets and liabilities that are nol readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other faclors that are considered to be relevant. Actual results may differ from these estimates. The eslimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting eslimales are recognised in the period in which the estimate is revised where the revision affects only Ihal period, or in the period of the revision and future periods where the revision affects both current and future periods. Key sources of estimation uncertainty Fixed assets The annual depreciation charge on fixed assets depends primarily on the estimated lives of each type of asset and estimates of residual values. The directors regularly review these asset lives and change them as necessary to reflect current thinking on remaining lives in light of prospeclive economic utilisalion and physical condition of the assets concerned. Changes in asset lives can have a significant impact on depreciation and amortisation charges for the period. Detail of the useful lives is included in the accounting policies. Debtors Short term debtors are measured at transaction price. less any impaimient. Impairment of such debtors involves some estimation uncertainty. Restricted and unrestricted funds Judgements are made in relation lo allocation of income and expenditure to restrlcted and unrestricted funds. The directors consider it appropriate to allocate these fijnds based on interpretation of donations received. -22-
EARLY YEARS- THE ORGANISATION FOR YOUNG CHILDREN NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Income from donations and legacies Restricted funds 2025 Restricted funds 2024 Donations and gifts Grants 55,000 113,523 201.436 168,523 201.436 Income from charitsble activities Unrestricted Restricted funds funds 2025 2025 Total Unrestricted Restricted funds funds 2024 2024 Total 2025 2024 Charitable income Surestarts and support to the sector 2.074.945 10.880.082 12.955.027 1.001.024 9.218,428 10.219,452 Charitable income Less.. deferred income (1.531.063) {1.531.0631 2.074,945 9.349.019 11.423,964 1.001,024 9.218,428 10.219,452 Performance relaled grants analysis Charitable income 2025 Charitable income 2024 Training Management recharges Atlantic Philanlhropies Northern, Western & Southern Health & Social Care Trust Health & Social Care Trusts- Other. including Surestart DE Pathways Fund Management Fees Project grants Peace IV and Aspire 325,479 419,084 280.963 361,722 600.000 87,062 4.196.606 3,414,660 358.340 577,738 342.361 110,056 4,333,639 3,938,026 1,330,381 792,896 174,403 11,423,964 10.219,452 -23-
EARLY YEARS- THE ORGANISATION FOR YOUNG CHILDREN NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Income from other trading a¢tivities Unrestricted Unrestricted funds funds 2025 2024 Insurance and members. insurance Day care fees Sale of publications Subscriptions Trading activity income- other 7,500 977.227 7,504 35,576 112,860 15,820 917,116 9,289 39.245 151,236 other trading activities 1,140,667 1,132,706 Income from investments Unrestricted Unrestricted funds funds 2025 2024 Interest receivable 1,276 685 Expenditure on raising funds Unrestricted Restricted funds funds 2025 2025 Total Unrestricted Restricted funds funds 2024 2024 Totsl 2025 2024 Trading costs Other trading activities 314 411 725 2,490 4,992 7.482 -24-
EARLY YEARS- THE ORGANISATION FOR YOUNG CHILDREN NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Expenditure on Charitable a¢tivities Charitable Charitable expenditure expenditure 2025 2024 Direct costs Staff cosls DE Pathway grants paid Accounlancy fees Programme costs Recruitmenl expenses Training course costs Travel and subsistence Travel - direct costs Redundancy costs Peace IV grants paid Unrecoverable VAT Bad debt write off 6,089,818 3.938,030 4,000 993,704 61,917 7,977 3,462 82,981 7,433 48,754 40,813 5,469,165 3.414.659 4,480 807.536 10,972 3.472 31 89.804 57,537 151.721 27,961 1.409 11.278.889 10.038.747 Share of support and governance costs (see note 9) Support Governance 1,210,980 13,750 916,343 11.435 12.503,619 10.966,525 Analysis by fund Unrestricted funds Restricted funds 2,998,370 9.505,249 2,104,898 8.861.627 12,503,619 10.966,525 -25-
EARLY YEARS- THE ORGANISATION FOR YOUNG CHILDREN NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Support costs allo¢ated to activities 2025 2024 Depreciation Computer expenses Light, heat and power Training Ilncl. Sureslarts) 31,824 215,269 61,702 63,800 32,126 113.741 72,709 43.730 p li Subscriptions and support services Sundries Telephone Professional fees Cleaning Insurance Rent Governance costs 24,406 226,794 52,420 199,817 43,473 78,436 215,039 11,750 25,705 138.918 48,290 112.122 39,757 72.705 216.540 11,435 1,224,730 927,778 Analysed between: Charitable expenditure 1,224,730 927.778 10 Net movement in funds 2025 2024 The net movement in funds is slated after chargingl(crediting): Fees payable for the audit of the chariws financial statements Depreciation of owned tangible fixed assels Depreciation of tangible fixed assets held under finance leases Loss on disposal of tangible fixed assets 11.750 19,730 12,094 708 11,435 32.126 11 Trustees None of the Trustees lor any persons connected with them) received any remuneration during the current or prior year. However, one Trustee was reimbursed a total of £396 {2024 - £nil) for travelling expenses. 12 Employees The average monthly number of employees during the year was: 2025 Number 2024 Number Management and administration Charity services 38 191 36 186 Total 229 222 -26-
EARLY YEARS- THE ORGANISATION FOR YOUNG CHILDREN NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 12 Employees {Continued) Employment costs 2025 2024 Wages and salaries Social security costs Other pension costs 5,202,415 444,581 442,822 4,709,217 376.503 383,445 6.089,818 5,469,165 Redundancy and temiination payments During the year redundancy payments of £7,433 (2024 - £57,537) were made to 3 {2024 - 6) employees. Directors and key management personnel remuneration and expenses The total amount of employee benefits reiVed by key management personnel is £334.166 {2024 - £308.608) The charity considers its key management personnel to comprise of the senior management team. The number of employees whose annual remuneration was more than £60,000 is as follows.. 2025 Number 2024 Number In the band £60,001- £70,000 In the band £70,001- £80,000 13 Other expenditure Unrestricted Unrestricted funds funds 2025 2024 Net loss on disposal of tangible fixed assets 708 14 Taxation The charity is exempt from income tax and capital gains lax to the extent that its income and gains are applied for charitable purposes. No lax charge has arisen in Ihe year. -27-
EARLY YEARS- THE ORGANISATION FOR YOUNG CHILDREN NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 15 Tangible fixed assets Land and Leasehold Assets under Flxtures and bulldlngs Improvements constructlon flttlngs Computers Motor vehlcles Total Cost Al 1 April 2024 Additions Disposals 736,199 55,000 92,600 326,006 69,587 60,497 1,500 133,8151 1,284,889 104,875 136,6441 48,375 12,8291 At 31 March 2025 791,199 92,600 326,006 66,758 28,182 48,375 1,353,120 Deproclatlon and Impalrment Al 1 April 2024 Depreciation charged in the year Eliminated in respect of disposals 350,585 14,724 56.899 3,704 66,881 1,260 12,1221 60,497 42 133,8151 534.862 31,824 135,9371 12,094 Al 31 March 2025 365,309 60.603 66,019 26,724 12,094 530.749 Carrying amount At 31 March 2025 425,890 31,997 326,006 739 1,458 36,281 822,371 At 31 March 2024 385,614 35,701 326,006 2,706 750,027 -28-
EARLY YEARS- THE ORGANISATION FOR YOUNG CHILDREN NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 15 Tangible fixed assets {Continued) The net carying value of langible fixed assels includes the following in respect of assets held under finance leases or hire purchase contracts. The depreciation charge in respect of such assets amounted to £12,094 {2024 - £-) for the year. 2025 2024 Motor vehicles 36,281 Included in land and buildings is freehold land acquired during the year at a cost of £55,000. In accordan with the charity's accounting policy, freehold land is not depreciated. 16 Stocks 2025 2024 Finished goods and goods for resale 13,965 23.583 17 Debtors 2025 2024 Amounts falling due within one year: Trade debtors Other deblors Prepayments and accrued income 263,418 17,647 134,290 265,961 1.057 409,364 415,355 676,382 18 Creditors- amounts falling due within one year 2025 2024 Notes Bank loans and overdrafts Obligations under finance leases other taxation and social security Deferred income Trade creditors Other creditors Accruals 20 21 1,035,881 8.000 106,576 1,531,063 145,998 12,702 299,314 1,268,856 171,823 22 51,445 20.271 254,501 3,139,534 1,766,896 Securily is as disclosed in notes 20 and 21. -29-
EARLY YEARS- THE ORGANISATION FOR YOUNG CHILDREN NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 19 Creditors: amounts falling due after more than one year 2025 2024 Notes Bank loans Obligalions under finance leases 20 21 8,772 25,975 119,477 34,747 119.477 Security is as disclosed in notes 20 and 21. 20 Loans and overdrafts 2025 2024 Bank overdrafts Bank loans 934,925 109,728 1.176.837 211,496 1,044,653 1,388,333 Payable within one year Payable after one year 1.035,881 8.772 1.268.856 119.477 The bank overdrafts are SeCud on the building and a floating charge over the assets of the charitable company. A guarantee has been pledged by the Department for Business Energy and Industrial Strategy in respect of the bank loan. Bank loans are being repaid by way of monthly instalments until April 2026 with an interest rate of Danske Bank Base Rate plus 4¥0. 21 Finance lease obligations Future minimum lease payments due under finance leases- 2025 2024 Within one year Wilhin two and five years 8.000 25,975 33,975 The charity's obligations under finance leases are secured on the related assets. -30-
EARLY YEARS- THE ORGANISATION FOR YOUNG CHILDREN NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 22 Deferred income 2025 2024 Other deferred income 1,531,063 Deferred income is included in the financial statements as follows: 2025 2024 Deferred income is induded within: Current liabilities 1,531,063 Movements in the year= Deferred income at 1 April 2024 Released from previous periods Resources deferred in the year 4,329 {4.329) 1,531,063 Deferred income at 31 March 2025 1,531,063 The defeed income arises in respect of income being received in the year which relates to a future accounting period and in respect of income received in the year where conditions for recognition have not been satisfied. The income will be released to the Statement of Financial Activities in the period to which it relates. 23 Unrestricted funds The unrestricted funds of Ihe charity comprise the unexpended balan5 of donation5 and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designaled funds which have been set aside out of unreslricled funds by the trustees for specific purposes. At 1 April 2024 Incoming resources Resources expended Transfers Al 31 March 2025 General funds 979.342 3,216.888 {2.999.3921 1.196.838 Previous year: At 1 April 2023 Incoming resources Resources expended Transfers Al 31 March 2024 General funds 650.073 2.134.415 (2.107.388) 302,242 979.342 31
EARLY YEARS- THE ORGANISATION FOR YOUNG CHILDREN NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 24 Restricted funds The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject lo specific condition5 by donors as lo how they may be used. At 1 April 2024 Incoming resources Resources expended Transfers Al 31 March 2025 Aspire Surestarts HSCT DE Pathways Projects Toybox Peace IV DE Core Grant AU8ntic Philanthropies 125.649 4,333.638 110.056 3.938.026 176.173 465.246 48.754 265.000 55.000 1125,6491 {4.333,673) (110,0561 (3.938,026) 1173,5271 1465,246) (48,754) 1265,000) (45,729) {35) (378) 2,268 290,784 300,055 290.406 9,517.542 {9,505,6601 302,288 Previous year: At 1 April 2023 Incoming resources Resources expended Transfers Al 31 March 2024 Surestarts HSCT DE Pathways Projects Toybox Peace IV DE Core Grant Atlantic Philanlhropies 4.033.066 147.062 3,414.660 314.080 349.703 342.361 218.932 600.000 (4,033,066) 1147,0621 (3,414,660) 1328,925) 1347,0151 1366,174) (218,932) (10,785) 13.073 2.517 23.813 1,395 (5,205) (3771 (298,432} 290.783 39,403 9.419.864 (8.866,619) (302,242} 290.406 -32-
EARLY YEARS- THE ORGANISATION FOR YOUNG CHILDREN NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 25 Explanatory notes to the funds UNRESTRICTED FUNDS General Funds This reflects the short-temi tactical reserves required by Ihe Organisation and represents approximately 7 weeks, worth of unrestricted expenditure to cover short-term setbacks or cash flow difficulties. RESTRICTED FUNDS Atlanti¢ Philanthropies (AP) and Associated Funds Over a number of years the charity reiVed funding from Atlantic Philanthropies to support a long-term research, practice and policy development programme focused on outcomes for young children. This project has concluded. Atlantic Philanthropies has supported Earfy Years in the design and development of plans for the construclion of an Early Years Centre of Excellence in Clogher Valley. Surestarts Funding from various Trusts and Childcare Partnerships for a number of Surestart projects. Health and Social Care Trusts Funding for an advisory service providing support, training and quality assistance for earfy years groups within each Trusl area. as follows= Norlhem Health and Social Care Trust Soulhem Health and Social Care Trust Westem Health and Social Care Tnjst DE Pathway A fund managed by Earfy Years for the Department of Education to improve the development of children who are al risk of not reaching their full potential within the school system and develop an enhanced, more sustainable Early Years sector. Projects Funding for a range of projects delivered by the charity. Toybox Project Funds for an outreach play development project for Traveller Children. Peace IV This is funding reiVed from SEUPB. This project aims to bring about a posilive attitude and behavourial change among children, parents. teachers and the wider community- The project uses an evidence based approach to purposefvl. direct and sustained curriculum-based conlacl between children of different religious backgrounds. DE Core Funding Funding from the Department of Education to support core costs of Early Years. -33-
EARLY YEARS- THE ORGANISATION FOR YOUNG CHILDREN NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 26 Explanatory notes to the funds {conlinued) ASPIRE The ASPIRE {Advancing Shared Partnerships through Indusive Relationships in Education) is a rnulti-agency project, with the Education Authority as Lead Partner. The project is funded by PEACEPLUS. The project provides direct and regular sustained contact between children and young people from different cultural, religious and SOCIeConOMiC backgrounds across settings and schools within Northern Ireland and the border counties. with a focus on peace building, reconciliation and inclusion to improve educational outcomes. Early Years is responsible for Ihe operational oversight. project development and project delivery to Eady Years settings, with other partners responsible for older age groups. Transfers During the prior year the charity made transfers from restricted to unrestricted funds totalling £302,242. For transfers of £3.810 Ihe balan arose due to the fact that overhead cost5 were nol fully allocated to rtaIn funds in prior years. For the transfer of £298.432 from Atlantic Philanthropies, this was a reimbursement of unrestricted funds that Eady years had spent on the Clogher project in prior years. 27 Retirement benefit schemes 2025 2024 Defined contribution schemes Charge to profit or loss in respect of defined contribution schemes 442,822 383,445 The charity operates a defined contribution pension scheme for all qualrfying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund. 28 Analysis of net assets between funds Unrestricted funds 2025 Restricted funds 2025 Total 2025 At 31 March 2025: Tangible assets Current assetsl{liabilities) Long term liabilities 767,371 464,214 (34.747) 55,000 247,288 822.371 711,502 (34.7471 1.196,838 302,288 1.499.126 Unrestricted funds 2024 Restricted funds 2024 Total 2024 At 31 March 2024: Tangible assets Current assetsl{liabilities) Long temi liabilities 750,027 348,792 (119.477) 750,027 639,198 {119.4771 290,406 979.342 290,406 1.269.748
EARLY YEARS- THE ORGANISATION FOR YOUNG CHILDREN NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 29 Operating lease ¢ommilments Lessee At the reporting end dale the charity had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows= 2025 2024 Wilhin one year Belween two and five years In over five years 105,891 174,306 15,000 107,920 109.500 295,197 217,420 30 Related party transactions Transactions with related parties During the year the charity entered into the following transactions with related parties.. Grants paid 2025 2024 Giggles Eady Years Adventures Day Nursery 98,515 22,009 30,000 120,524 30.000 The above Trustee owned nursery and playgroups received grants from the Pathway and Northem Ireland Childcare Subsidy funds. These groups applied for grants and were assessed against the same crileria and on the same basis as other applicants. During the year the charity provided management and administrative support to Eady Years ROI for no charge. In addition, the charity paid expenses on behalf of Eady Years ROI. At the balan sheet date, an amount of £13,608 remained due from EaTly Years ROI {2024: £5.131 due to Early Years ROI). 31 Conduit funding The charity acts as an agent on behalf of the Department for Education in respect of the Northem Ireland Childcare Subsidy Scheme. During the year, the charity received £10,575,000 in respect of this scheme and dislributed £10,016,535.. these amounts have been excluded from income and expenditure. At 31 March 2025. the charity held bank balances amounting to £558,465 in relation to these monies, with a corresponding balance of deferred income. -35-
EARLY YEARS- THE ORGANISATION FOR YOUNG CHILDREN NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 32 Cash generated from operations 2025 2024 Surplus for the year 229,378 580.272 Adjuslments for: Investment income recognised in statement of financial activities Loss on dist)osal of tangible fixed assets Depreciation and impairment of tangible fixed assets (1.276} 708 31,824 (6851 32.126 Movements in working capital: Decrease in slocks Decrease in debtors Increaselldecrease) in creditors Increasel(decrease) in deferred income 9,618 261,027 66,549 1,531,063 5,159 3.963 1187,3141 (4.3291 Cash generated from operations 2,128,891 429.192 33 Analysis of changes in net funds At 1 April 2024 Cash flows New financeAt 31 March 2025 leases Cash at bank and in hand Bank overdrafts 1.706.129 (1,176.837) 1.715,587 241,912 3.421.716 1934,9251 529.292 1,957,499 2,486,791 Loans falling due within one year Loans falling due after more than one year Obligalions under finance leases 192.019) 1119.477) (8,937) 110,705 6,025 1100.9561 {8,7721 (33.9751 (40,000} 317.796 2,065,292 (40,000} 2,343,088 34 Contingent liabilities A portion of grants received may become repayable of the charitable company fails to comply with the temis of the letter of offer. 35 Members. liabilty Each member of the charitable company undertakes to contribute to the assets of the company in the event of it being wound up while they are a member, or within one year after they cease lo be a member, such amounl as may be required, nol exceeding £1 for the debts and liabililies ox)ntracted before they ase to be a member. -36-