The Men's Advisory Project Company Limited by Guarantee Statement of Financial Activities (Including income and expenditure account) Year ended 31 March 2024 2024 Restricted funds Total funds Total funds 2023 Unrestricted funds Note Income and endowments Donations and legacies InvestmLifl"l income Other income 115,854 934 5,200 15.050 130,904 934 5,200 273.360 34 590 Total Income 121,988 15,050 137,038 273.984 Expenditure Expenditure on raising funds.. Costs ol raising donations and legacies Expenditure on charitable activities Tolal expenditure 149,902 8,654 19,913 4,840 24.753 169,815 13,494 183,309 160.103 8.465 9,10 158,556 168,568 Net (expendilure)lincome and nel movement in funds (36,568) (9.7031 146.2711 105.416 Reconciliation of funds Total funds brought forward Total funds carried forward 179,064 78,089 257.153 151,737 142,496 68,386 210.882 257.153 The statement of financial activilies includes all gains and losses recognised in the year. All income and expenditure derive Irom continuing activities. The notes on pages 15 to 25 form part of these financial statemènts. 13
The Men's Advisory Project Company Limited by Guarantee Statement of Financial Position 31 March 2024 2024 2023 Note Flxed assels Intangible assets Tangible fixed assets 14 15 7,784 1,372 5.840 2.924 9,156 8,764 Current assets Debtors Cash at bank and in hand 16 47,493 162,791 29,909 226,367 210,284 256,276 Creditors: amounls falllng due within one year Net current assets 17 8.558 7,887 201,726 210.882 248,389 257,153 257,153 Total assets less current liabililies Net assets 210.882 Funds ot the charity Restricted funds Unrestricted funds 68.386 142.496 78,089 179.064 Tolal charity funds 19 210,882 257,153 These financial statements were approved by the board of trustees and authorised for issue on 19 December 2024. and are signed on behalf of the board by: MSP Trustee Lewsle ooney BE The notes on pages 15 to 25 form part ol these financlal statements. 14
The Men's Advisory Project Company Limited by Guarantee Notes to the Financial Statements Year ended 31 March 2024 General Informatlon The charity is a public benelit entity and a private company limited by guarantee. registered in Northern Ireland and a registered charity in Northern Ireland. The address of the registered office is Floor 5, Glendinning House. 6 Murray Street, Belfast, BT1 6DN. Stateinent of compllance These financial statements have been prepared in compliance wilh FRS 102. 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland., Ihe Statement of Recommended Practice applicable to charities preparing Iheir accounts in accordance with the Financial Reporting Standard applicable in Ihe UK and Republic of Ireland (FRS 1021 (Charities SORP (FRS 10211 and the Companies Act 2006. Accounting policies Basis ot preparation The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabililies and investment properties measured at fair value through income or expenditure. The financial statements are prepared in sterling, which is the functional currency of the entity. Going concern There are no material uncertainties about the charity's ability 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 eslimales and judgements are continually reviewed and are based on experience and other factors. including expeclations of future events that are believed to be reasonable under Ihe circumstances. Fund accounting Unrestricted funds are available lor use al the discretion of the trustees to further any of the charity's purposes. Designated funds are unrestricted funds earmarked by the trustees for parlicular future project or commitrnent. Restricted funds are subjected to restriclions on their expenditure declared by the donor or through the terms ol an appeal. and fall into one of sub-classes.. restricted income funds or endoivment funds. 15
The Men's Advisory Project Company Limited by Guarantee Notes to the Financial Statements fcontlnued) Year ended 31 March 2024 Accounting policies fcontlnuedj Incomlng resources All incoming resources are included in the statement of financial activities when entitlement has passed to the charity. it is probable that the economic benefits associated with the transaction will flow to the charily and the amount can be reliably measured. The following specific policies are appliecj to particulc1r categories of income: income from donations or granls is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably. legacy income is recognised when receipi is probable and entitlement is established. income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cosl to Ihe donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers. income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricled funds unless there is a contractual requirement lor it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted. Resources expended Expendilure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered. and is classified under headings of the statemenl ol financial activities to which it relates= expendilure 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 furlher ils charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities. other expenditure includes all expenditure that is neither related lo raising funds for the charity nor part of ils expenditure on charitable activilies. All costs are allocated to expenditure calegories reflecting ihe use of the resource. Direct costs attributable to a single activity are allocated directly to that activily. Shared cosls are apportioned between the aclivities they contribute to on a reasonable, justifiable and consistenl basis. 16
The Men's Advisory Project Company Limited by Guarantee Notes to the Financial Statements (contlnued) Year ended 31 March 2024 Accounting pollcles (continued) Intangible assels Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulaled amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the lair value al the date of revaluation. as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable. the expected future economic benefits are probable and the cost or value can be measured reliably. Amortisatlon Amortisalion is calculated so as to write off the cost of an asset, less its eslimated residual value. over the useful life of that asset as lollows: Web page design 5 % straight line If Ihere is an indication thal there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, Ihe amortisation is revised prospectively to reflect the new estimates. Tangible assets Tangible assets are initially recorded at cost. and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated dgprecialion and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other recognised gains and losses, unless it reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial aclivities. A decrease in the carrying amount ol an asset as a result of revaluation, is recognised in other recognised gains and10sses, except to which it offsets any previous revaluation gain, in which case the loss is shown wilhin other recognised gains and losses on the statement of financial activities. Depreciation Depreciation is calculated so as to wrile oll Ihe cost or valuation of an asset. less its residual value. over the useful economic life of Ihat asset as follows- Computer equipment Office èquipment 33 % straighl line 25 % straight line 17
The Men's Advisory Project Company Limited by Guarantee Notes to the Financial Statements (conlinued) Year ended 31 March 2024 Accounting policies (contlnugd) Impairment ot fixed assets A review for indicators ol impairment is carried out at each reporting date. with the recoverable amount being estimated where such indicators exist. Where the cari'ying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairm6knts are also reviewed for possible reversal a:. each reporting date. For the purposes of impairment tesling, when it is not possible to estimate Ihe recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash- generating unit to which the asset belongs. The cash-generating unit is Ihe smallest identifiable group ol assets that includes the asset and generales cash inflows Ihat largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business Combination is, from the acquisition date, allocated lo each of the cash-generating 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 liability is recognised only when Ihe charity becomes a party to the contractual provisions of the inslrument. Basic f inancial instruments are initially recognised at the amount receivable or payable including any related transaction costs. Current assets and current liabilities are subsequently measured at the cash or other consideration expected lo be paid or received and not discounted. Debt inslruments are subsequently measured at amortised cost. Where investments in shares are publicly 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 impairment. Other financial instruments. including derivalives. are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of inlerest that is not a market rate, in which case the asset is measured at the present value of the future payments discounled at a market rate of interesl for a similar debl instrument. Other financial instruments are subsequently measured al fair value, with any changes recognis'ed in Ihe slatement of financial activities, with the exceplion of hedging instrLtments in a designated hedging relationship. Financial assets thal are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence ol impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised. 18
The Men's Advisory Project Company Limited by Guarantee Notes to the Financial Statements (contlnued) Year ended 31 March 2024 Accounting policles (continued) Flnancial inslruments (¢ontlnued) For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either aSesSed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impaii'ment are recognised immediately. to the extent that the reversal does not result in a carrying amounl of the financial asset that exceeds whal the carrying amount would have been had the impairment not previously been recognised. Defined conlribution plans Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid conlributions are recognised as an asset to the extent thal the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, Ihe liability is measured on a 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 Men's Advisory Project is a company limited by guarantee and accordingly does not have share capital. Every member of the company undertakes to contribute such an amount as may be required, nol exceeding £1, to the assets of the company in the event of it being wound up while he or she is a member or within one year after he or she ceases to be a member. Donations and legacies Unrestricled Funds Reslricted Total Funds Funds 2024 Donations Donations 28,064 3,000 31,064 Grants Grants 87,790 12,050 99,840 115.854 15.050 130,904 Unrestricted Funds Restricted Total Funds Funds 2023 Donations Donations 171.160 7.950 179.110 19
The Men's Advisory Project Company Limited by Guarantee Notes to the Financial Statements (contlnuod) Year ended 31 March 2024 Donations and legacies (contlnuedj Unrestricted Funds Restricted Total Funds Funds 2023 Grants ' Grants 27,853 199,013 66,397 74,347 94.250 273.360 Investment Income Unrestricted Total Funds Unreslricted Total Funds Funds 2024 Funds 2023 Bank inlerest receivable 934 934 34 34 Other income Unrestricted Tolal Funds Unrestricted Total Funds Funds 2024 Funds 2023 Paypal SHIP Proj8Ct 590 590 5.200 5,200 5,200 5.200 590 590 Costs of raising donations and legacies Unrestricted Funds Restricted Total Funds Funds 2024 Stalf salaries Employer pension Rent Electricity Depreciation & Amortisation Insurance Computer & Soltware Advertising Telephone and fax Stationary & Sundries Counsellorlvolunteer expenses 111,366 4,466 11,721 3,432 1,431 2,076 4,339 1,003 2.400 6.636 1.032 111.366 4.466 11.721 3.432 2.862 2.076 4.339 1,003 2,400 6,636 19,514 1 ,431 18.482 149,902 19,913 169,815 20
The Men's Advisory Project Company Limited by Guarantee Notes to the Financial Statements (contlnuad) Year ended 31 March 2024 Cosls of ralsing donations and legacies (contInd) Unrestricted Funds Flestricted Total Funds Funds 2023 Slaff salaries Employer pension Rent Electricity Depreciation & Amortisation Insurance Computer & Software Advertising Telephone and lax Stationary & Sundries Counsellorlvolunteer expenses 21,722 66,338 1,062 88,060 1,062 11,066 3,013 3,630 1,999 5,162 961 2,177 9,404 33,569 11,066 3,013 1,815 1,815 1.999 5,162 961 2,177 9.404 679 32,890 54,985 105,118 160.103 Expenditure on charilable aclivilies by fund type Unrestricted Funds Restricled Totsl Funds Funds 2024 Support costs Governance costs 36 8.618 36 13,458 13,494 4,840 8.654 4,840 Unrestricted Funds Reslricted Total Funds Funds 2023 Support costs Governance costs 44 2,400 2,444 44 8,421 6,021 6.021 8.465 10. Expenditure on charitable activities by activily lype Activities undertaken Total funds directly 2024 Total fund 2023 Support costs Governance costs 36 13.458 36 13,458 44 8,421 8.465 13,494 13,494 21
The Men's Advisory Project Company Limited by Guarantee Notes to the Financial Statements (contlnued) Year ended 31 March 2024 11. Net (expenditure)lincome Net (expenditure)lincome is stated after chargingllcreditingl.. 2024 2023 Amortisalion of intangible assets Depreciation of tangible fixed assets 456 2,406 286 3,344 12. Staff costs The total staff costs and employee benefits for the reporting period are analysed as follows.. 2024 2023 Wages and salaries Employer contribulions to pension plans 111.366 4.466 88,060 1,062 89,122 115.832 The average head count of employees during the year was 3 {2023'. 4). The average number of full-time equivalent employees during the year is analysed as follows: 2024 2023 Administrative staff No employee received employee benefits of more than £60,000 during the year12023: Nill. 13. Trustee remuneration and expenses One or more trustees has been paid remuneration or received other benefits from employment with Ihe charity or a relaled entity. Programme delivery Supervision Total P Irving M Mcllvenny Total 808 1.252 808 1,252 2.060 2,060 22
The Men's Advisory Project Company Limlted by Guarantee Notes to the Financial Statements (contlnu8d) Year ended 31 March 2024 14. Intangible assets Web page design Cosl Al 1 April 2023 Additions 7.120 2.400 At 31 March 2024 9.520 Amortisation At 1 April 2023 Charge for the year At 31 March 2024 1.280 456 1.736 Carrying amount At 31 March 2024 7,784 5,840 At 31 March 2023 15. Tangible lixed assets Computer equipment Olfice equipment Total Cost At 1 April 2023 Additions 3,903 535 6,110 319 10,013 854 Al 31 March 2024 4,438 6.429 10.867 Depreciallon At 1 April 2023 Charge for the year At 31 March 2024 3,064 838 4,025 1,568 7.089 2.406 3,902 5.593 9,495 Carrying amount At 31 March 2024 536 836 1,372 2,924 At 31 March 2023 839 2.085 16. Debtors 2024 2023 Trade debtors Prepayments and accrued income Other debtors 38,765 1,854 6,874 47,493 21.210 1.809 6.890 29,909 23
The Men's Advisory Project Company Limited by Guarantee Notes to the Financial Statements (conlinued) Year ended 31 March 2024 17. Creditors: amounts falllng due wlthin one year 2024 2023 Trade creditors Accruals and deferred income Social security and other taxes Pension 96 5,128 2,218 1,116 8,558 855 6.514 518 7.887 18. Pensions and other posl retlrement benefits Defined contribution plans The amount recognised in income or expenditure as an expense in relalion to defined contribution plans was £4.46612023'. £1.0621. 19. Analysis of charitable funds Unrestricted funds At 31 March 202 At 1 April 2023 Income Expenditure Unrestricted funds 179,064 121,988 1158,556) 142.496 At 31 March 202 Al 1 April 2022 Income Expenditure Unrestricted lunds 36.856 199.637 157,4291 179.064 Restricted funds At 31 March 202 At 1 April 2023 Income Expenditure Restricted lunds 78.089 15.050 124,7531 68.386 At 31 March 202 At 1 April 2022 Income Expenditure Restricted funds 114.881 74.347 1111,139) 78,089 24
The Men's Advisory Project Company Limited by Guarantee Notes to the Financial Statements {continued) Year ended 31 March 2024 20. Analysis of net assets between funds Unrestricted Funds Restricted Total Funds Funds 2024 Intangible assets Tangible fixed assets Current assets Creditors less than 1 year Nel assets 7,784 1,372 141,898 {8,5581 142.496 7,784 1.372 210,284 (8,5581 210.882 68,386 68,386 Unrestricted Funds Restricted Total Funds Funds 2023 Intangible assets Tangible fixed assets Current assets Creditors less than 1 year Nel assets 5,840 2,924 178,186 (7,886) 179.064 5.840 2.924 256.275 {7.8861 257.153 78,089 78,089 25