ort of the Directors and Unaudited Financial Statements for Year Ended 31st March 2024 AINTS YOUTH CENTRE RITY NUMBER: NICIO5861
SAINTS YOUTH CENTRK FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 IVMR H 2024 Pa90 Reference and Administrative Information Annual Trustees Report (including the Statement of Directors Responsibilities in respect of Financial Statements) Statement of Accounting Policies Statement of Financial activites (incorporating the income and expenditure accounts) Balance Sheet Notes to Financial statements 10-12
SAINTS YOUTH CENTRE MANAGEMENT COMMITTEE INFORMATI FOR THE YEAR ENDED 31 MARCH 202 AGEMENT COMMITTEE IN COMMITTEE: Stephen Magennis - Chairperson Sean Devine- Vice Chair Teresa M¢Allisler- Head of keep safe Brendan McAteer- Secretary Janet Glennon - Treasurer George Rogan - Board member Cuan O'Neill - Senior Youth Work8r INon-Voting) REGISTERED OFFICE.. Summerhill Drive Twinbrook Belfast BT17 OBT REGISTERED CHARITY NUMBER: NIC 105861 ACCOUNTANTS: Toman Accountancy SeNices Ltd Unit HF9, Twin Spires Complex Howard Buildings 155 Northumberland Street Belfast Antrlm BT13 2JF Page 1
SAINTS YOUTH CENTRE CHARITY NUMBER. NIC I 586 COME COUNT ED 31 MARC 20 INCOME 229,869 Admlnistrative Expenses 235 127 OPERATING SURPLUS ar)d SURPLUS ORDINARY ACTIVITIES BEFORE TAXATION (5,258) Tax on deficlt on ordlnary actlvStles (DEFICIT)ISURPLUS FOR THE FINANCIAL YEAR (5,258) CONTINUING OPERATIONS None of the Charity's Actlvitles were acquired or dlsconllnued durlng the cuffent year or prevlous perlod, TOTAL RECOGNISED GAINS AND LOSSES The charity has no recognlsed gains or losses other than the surplus for the current year. Page 7
SAINST YOUTH CENTRE INANCIAL TA ENTS Accounting convention and Basis of Accounting Th¢ fiiiancial stateinents have been prepared under the historical cost convention. These financial stateinents have been prepared in accordance with Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their aLcouiils the Financial Reporting Standard which applies to UK and Republic of Ireland (FRS 102) (effective 1st January 2015)- (Charities SOIIP (FRS 102)), aiid the Companies Act 2006. Reconciliation with previou.s Generally Accepled Accounting Pr2etice Inpreparing the account5, tlie I'rustees have considcred whether in applyilig tlie accounting policies required by FRS 102 and the Charities SORP FRS 102, the restatement of comparative items was required. No restatements were requii'ed Income Recognition Income is recogiiised wlien the cliai'ity has the entitlement to tlie fuiids, any perfom1ance conditions attached to the item(s) of in¢oii)e hav¢ been met, it is probablc tlie incoinc will be received and the ainouiit Ineasured reliably. Interest Recelvable Interest on the funds lield when receivable and the amount can be Ineasured reliably. tliis is normally upon notification of the interest paid or payable by the baiik, Resources Expended All expenditure is accounted t'or oli an Accruals basis and is classifed linder headiiigs that aggregate all costs related to tlial cat¢gory. Fundraising co.sts includg tlic costs of advertising, producing publications, pi'iiitiiig aiid Inailiiig fundi'aising material and staff costs iii tliese areas. Costs of charitable activites include direct expeiiditure incurred tlii'ough operational activities. Governance costs repres¢iit tlie costs associated to thc governaiice arrangemeiits of the charity which relate to t11e general rLiiiniiig of the cliarity as opposed to those costs associated witli fuiidraising or charitable activity Fixed Assets All tangible fixed assets are recorded at C05t Page 4
SAINTS YOUTH INANCIAL STA D¢preciation Depreciation Is ¢al¢ulaled lo write off the cost of fixed assets over their estimated useful lives at the following rale8.' COMPUTER EQUIPMENT 33Vo RB Rèpairs and renewals All r8p8irs and renewals are written off a$ incurred D•btors and Propaym9nts Trada debtors and other deblois are recognised al the settlement amount due after any discount offefed. Propayments are valued al the amount prepald net of any discounts due. Crèdltor8 and Provi$lon8 Creditors and provisions ar& r&cognS$ed where the charity has a pr888nl obllgation resulling from a pa$1 event that will probale resull in th8 transfer of funds lo a third party and tho arnounl du8 to settle the obligation can be measure r6laibly Flnanclal instruments Thè charity only has flnancial inslNm8nls and financlal Ilablilie8 of a kind that qualify as 8 basic linanclal inslrumenl. 885ic financial Instruments are inllially recognlsed al transaction value and subsquenlely measure al Ihelr sgttlgmnl value with the exc8plion of bank loans which ale subsquenlly measured al amortised cost Using the efferllve interest method. Prlor year odlu$trnents After completing checks and verifying th8 acGoun18 of the pr8vious accounlanllsl, it has been established thal there has been a mis-statmeenl ol the items held wiihln the FSxed Asset Regis18r, 11 has been confSrmed with the centre and the Diocese (who actually own the landl that no such values Should be staled wilhln Saints Youlh Centre's balance sheet. As suGh, relevant and appropiale 8djuslmenl8 have been made lo thi8 year and f61rospe¢tlvely lo the prevlous year lo fix this error. This in turn has removed the "Capital Grants" liability which was also incorrectly staled wSlhin previous years accounts. Page 5
SAIN S YOUTH CENTRE ANCIAL STATEMENTS FOR THE YEAR ENDED 31 T MARC Fund accounting Unreslricted funds comprise don81ions and other income that are available for the use at the Trustees, discretion in furtherance of the obJectives of the Charity. Designated funds may be used as unrestricted funds set aside by the trustees for specific future purposes Reslricled funds represent income received whlch Is subject to specific purposes. the use of which is restricted to that area or purpose The income recived from funders depends on the charlty meeting delailed criteria on the expenses plans. Grants given under such conditions are also subject to them being obtained for in connection with the furtherance of the charity's aims and oblectlves. Such income can be repayable to the funder if such expenses plans and criteria are not mel. Such income can only be deferred inf the donor 5peclfies that the granvdonation must only be used in future accounting perlods,. of the donor has Imposed conditlons whlch must be met before the charity has unconditional entitlement. Income from charitable acliviteg Includes income received under contract or where entitlement to grant funding Is sublect to specific performance conditions is recognised as earned as the related goodslservlces are provided. Grant income included In this calegory provides funding to support funding aclivies and Is recognised where there is entitlement, certalnty of receipt and the amount can be measure reliably. Income is deferred when.. feesl performance related grants are received in advance of the performancelevent to whioh they relate. Reserves Pollcy Unrestricted funds are needed to provide funds which can be applied lo specific projects and to enable these projects lo be undertaken al short notice and to cover the running costs of the Charity for a limited period, should there be a significant shortfall in projected income. The Trustees consider it prudent that unrestricted reserves should be sufficent to avoid the necessity of realising fixed assets held for the Charity's use. Page e
SAINTS YOUTH CENTRE TR AND FINANCIAL STAT THE The Trustees, who a also the directors for the purposes of company law, have pleasure in presenting Ihelr annual report together with the financial slalements of Ihe charity foi year ended 3151 March 2024 which are alsc prepared lo meet the requlrements for 8 dlreclors. report and accounts for Companies Act 2006 purposes.The Tru51ees confirm that the finanical slalgments comply wlth the requirements of Charitiès AGI INorthern Ireland) 2008 and Accounling and preparlng thelr accounts in accordance with the Flnanlcal Reporting Standard applicable in the UK and Republic of Ireland IFRS 102) i•ff¢clive 151 January 2015) Releren¢e & Admlnlslratlve Dgtalls Reference and adminlslralive details are shown in th8 s¢hedulo of member8 and professlonal advlsers on Page 1 of financlal statements. The Charity Is Ilmiled by guarantee not havSng 8 share c8piIAI Plans for Fulure Perlods The centrè will continue to provlde all $ervi¢es currently In op8ratSon Into the forseeable futur6 Olre¢tors and Tru•t¢e8 The directors of the charllable company are il's Iruslees for purpo88 of chailty law. Accountants Th8 accountants, Toman Accountancy Servlcgs Ltd, h8ve Indicated Ihelr wlllingn88s1o conllnue In office In accorandane8 with the provlsions ol Secllon 485 of Companl8s Act 2006. structure, Govarnance & Managoment Governlng Document Th8 charlly is a company limited by guaranlae and do88 not have a share ¢apilal. 11 is 8 company Incorporated under Companle8 Act 2008.1115 a charity rog15tered with Ch8rlltes Commi$slon INII. The charity Is m8n8ged 8nd under control ol the Board of Trusts88. Oblectlvg5 and Actlvltes Oblectlves Mairi'Activlt8S: Gov¢inlng Document The above report has been prepared in accordance with the special provisSons relating to small companies within Part 15 of Companies Act 2DO6. Page 2
SAINTS YOUTH CENT TATEMENT stees, Annu Rosgrves Policy Unreslficled funds are needed lo provide funds which ¢an be applied to sp8clfic projects and lo enable these projects lo be undertaken a15hort noliee and lo cover the running cos15 of the Charily for a limited period, should there be a 5ignlficanl shortfall In prolecled income. Accountsnts A iesolullon lo re-appoint Ihe 8ccounlanls, Toman Accountancy Services Ltd, will be proposed al the Annual General Meeung Small company 9XOrnPtlon Thls report has been prepared in accordanee wilh the special provislons for small companles under Part 15 of Companies Act 2006. Rep$onslblllio5 of th8 Trust008 The Truslees, who arg also the dlreclor$ for the purposes of Cornpany law. are responsible for preparing the Trustees Repaort and Ilie Financial slalemanls in accordance with Ihe applicable law and regulallons C#ompany Law requires the directors lo prepare Itnancial slalemenl8 for each financlal year. The Iruslees pre¥enl their report and the financlal slalemenls of the ¢harlly for the year ended 31 sl March 2024. The Trustees confirm th21 they cornply wllh the requirernenls of Ihe Charllies Act INorthern Ireland) 2008 and the Accounting and Reporting by CharS1ies'. Slalemenl ol recornmended PTBclice which applie5 to ch8rllies preparing their accounts In accordance wilh Ihe Financi81 Reportlng Standard applicable In UK and Republic of Ireland IFRS 102} effeclive 151 January 2015. Under company law the Trustees mu51 not approve Ihe fln8ncial slalem•nls unless Ihey are satisfied Ihal they give a Irue ond lair view ol the slate of affaSrs of the company and of Ihe suiplus or deficit ol Ihe company lor that period. In pieparing Ih08e financlal slalemenls, the dlreclors are required lo.. selecl 8uilable accounting policies and then apply them consislenlly., observe Ihe melhods and principles in the Charities SORP {FRS 102) rnake judgements and esllmales that are reasonable and prudent-, prepare the financial slalemenls on Ihe going concern basis unless il is indppropriale lo presurne Ihal the company will continue In business. The Trustees are responslble for keepbng adequate accounling records that a sufficient lo show 8nd explain the company's Iransa¢liDns and disclose wilh reasonable accur8Cy 81 any lime (he Iinandal position ol the company and 6nable Ihem lo ensure Ihal tho financial slalernenls comply wllh the Companies Act 2006. They are also responslble for safeguarding the 3s5els of the company and hence for taking reasonable steps for the prevention and delection of fraud and other irregularities. 8y order of thg Trusteos: Date: 7oli/xs- 501,1, Page 3