Charity Number: NIC 106073
Company Number: IYI 055960
NE
FnisT STEPS CHILD
ENI'kE LTD
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TRVSTFF
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I MARCH 2

NEWHILL FIRST STEPS CHILDCARE CENTRE LTD
REPORT OF THE DIRECTORS AND FINANCIAL
TATEMENTS
YEAR FNDED 31 MARCH 2023
TABLE OF CONTENTS
Page
Company Infonnation
Trustees, Annual Report (including the Directors, report)
Independent Auditor's Report to the members
10-14
Statement of Financial Aclivities (including income and ¢xpenditure account)
15
Statement of Financial Position
16
Notes to the Financial Statements
17-23

NEWHILL FIRST STEPS CHILDCARE CENTRE LTD
COMPAKY INFORMATION
Company registration number
N.1. 055960
Charity registration number
NIC 106073
Directors and trustees
Cathy Fitzsimons
John McGeown
Denise Rooney (Resigned 5 June 2023)
Mary Ann Mcllwee (Appointed 5 June 2023)
Secretary
Donal McKinney
Registered office
265 Old Whiterock Road
Belfast
BT12 7FX
Auditors
Jones Pelers
Registered Auditors
Chartered Accountants
6 Church Street
Banbridg¢
BT32 4AA
Bankers
AIB
26 University Road
Belfast
BT7 INH
Solicitors
Edwards & Co. Solicitors
28 Hill Street
]3elfast
BTI 2LA

NEWHILL FIRST STEPS CHILDCARE CENTRE LTD
TRUSTEES, ANNUAL REPORT
NCLUDING THE DIRECTORS. REPORT
FOR THE YEAR ENDED 31 MARCH 2023
Report of the Trustees for tbe year ending 31 March 2023
Th¢ truslees are pleased to present their annual trustees, report together with the financial statements of the
charitable company for the year ending 31 March 2023 which are also prepared to me¢t the requirements for a
directors, report and accounts for Companies Act purposes.
The financial statements comply with current statutory r¢quir¢ments including the Charities Act (Northern
Ireland) 2008 amended by the Charities Act (Northern Ireland) 2013, Companies Act 2006, the Charity's
Memorandum and Articles of Association, Accounting and Reporting by Charities: Statement of Recommended
Practice applicable to charities preparing their accounts in accordance with th¢ Financial Reporting Standard
applicable in the UK and Republic of Ireland (FRS 102).
Principal Activity
First Step's objective is to encourage the provision of services, training, recreation and oiher leisure time
occupation for children aged 0-8 years within N. Ireland. Those who require such services by reason of their
youth, poverty, disablement or social and economic circumstances and which will improve the conditions of the
young peoples lives by providing for their mental and spiritual wellbeing.
Statcment of Public Benefit
1.he charity's purposc is to:
advance the education, development, physical and emotional wellbeing of children.
to relieve those in need by reason of their youth, providing facilities for leisure-time occupation, so
that their conditions of life may be improv¢d.
To relieve and prevent poverty
The charity does this by providing affordable daycare to pre-school Children within the Upper Springfield I
Whit¢rock area of West Bclfast, an area of high multiple deprivation. The charity provides high quality facilities
which educat¢ and enhances the development of local children and which enables their parents and carers,
including those on low incomes, lone parents and school aged mums, to hold down employment, continue their
education or attend training. The direct benefits which flow from the5¢ purposes are the improvement to the
education and employability of persons within the local area.
These benefits are evidenced by attendance registers, feedback from parents and carers, inspections by social
servi¢¢s and monitoring and evaluations, surveys, the charity's annual accounts and trustees, report.
The charity employs staff to run its daycare centre for pre-school children but their employment is incidental and
entirely necessary to the provision of a high quality daycare facility for pre-school children which meets statutory
requirements.

NEWHILL FtRST STEPS CHILDCARE CENTRE LTD
TRUSTEES, ANNUAL REPORT
NCLUDING THE DIRECTORS, REPORT
FOR THE YEèKR ENDED 31 MARCH 2023
Acbievements and Perforniance
Service Provision
In the year covered by this report the centre continued to have an ongoing, positive impact in a wide range of
areas which met all our charitable purposes.
Childcgre
First Steps core function is the provision of quality early years provision through a social economy model. This
sustainable delivery model compliments the Department of Education's vision: 'every young person achieving
to his or her full potential at each stage ofhis or her development.,
There is an extensive body of research pointing to the rolc carly education can play in promoting children's
development. Two points Cmerge consistently from the evidence. Firstly. children at greater risk of starting
school at a disadvantage hav¢ most to gain from early education, meaning even universal provision can help to
narrow gaps in child development. Research has found larger benefits for children whose parents have less
education, children from families with lower incomes, and Children for whom English is an additional language.
The skills and abilities dcveloped in the early years provide the platforn] for later learning, while early defjcits
can have1&gting consequences for later inequality and social mobility. We also know that early interventions can
havc large and lasting effects on children's development.
As noted, the project's catchment area is in some of Nl's poorcst areas which means people experience social,
educational and health dcprivation from their earliest days. Educational disadvanlage is a complex and deeply-
rooted issue. Howcver, an educational disadvantage mcans the denial of equal access to educational opportunities,
the tendency to leave education at the first opportunity, and the hindrance of achievement by social and
cnvironmcntal factors. A social disadvantage both limits access to educational opportunities and reduces the
ability of childrcn to b¢nefit from the schooling thcy do get.
Children growing up in poverty and disadvantaged in our d¢signated SOAS are less likely to do well at school.
This feeds into disadvantages in later lif¢ and in tum affects theirchildren. To break this cycle we need to address
the attitudes and experiences that lie behind social differences in education and that must start at the earliest stage.
The quality of early education and Gare matters, not only because it affects the everyday experiences of our
children but because the b¢nefits are only realised if the provision used is high quality. Our different early years
specialilies support quality learning by providing aclivities and materials that children find engaging. By
facilitatin8 learning? supplying a developmcntally appropriate cnvironment, interesting materials, adequate time
to explor¢, play and int¢ract; children find learning easy and fun.
After School Project
Our community based after school project provides an accessible and affordable service, meeting the needs of
children, and the needs of the local community. School activities do wondcrs for a child's development. They
are linkcd to improving social skills, grades, overall coordination, sense-of-self and relationships with adults
other than their parents or guardians.
After school programmes and activities also give kids a chance to be themselves, free of the structure they face
at school.

NEWHILL FIRST STEPS CHILDCARE CENTRE LTD
TRUSTEES, ANNUAL REPORT
NCLUDING THE DIRECTORS, REPOR
FOR THE YEAR ENDED 31 MARCH 2023
The projects offer different support:
l. Our children and young people are cared for in a safe and secure play and recreational environment
providing children with the saf¢ space that they need while allowing parents some time for work or other
activities.
2. Mixed environments where children and young people can play, do homework and are supported in all
activitics. This approach regards aftcr school care notjust as a safe haven, butalso as providing developmental
support for our children and thcir families. Social, sporting and cultural activities are part of the daily
activities.
KmpACt: Outputs 2nd Outcomes
First Steps provides a wide range of services that enables community devclopm¢nt to flourish through our own
work and with our community partners,
Day Care
First Steps Childcare Registration
BHSCT sponsored day care
Summcr Scheme
68 daycare placements
72 childcare places
1.045 places
24 plaLes
Structure, Governance and Managcment
Governing Document
First Steps is a company registered in N. Ireland, which was incorporated under the Companies (Northern Ireland)
Order 1986 on 21 July 2005. The company is govcmed by a Mcmorandum and Articlcs of Association. The
company's objectives are charitable in naturo and it has eslablishcd charitable slatus. Th¢ Company's business is
managed by the directorsltruslees who arc considered to be the members of thc company.
Trustees, Appointment and Tralnillg
'rhe Irustees recruit and select new trustecs as set out in the governing document. The Board recruits new trustees
with regards to skills, gaps and the new members, potential to mak¢ a real contribution to the charity's overall
governance.
The Board predicate trust¢es' appointments on our organisational values and make n¢w members awar¢ of their
legal rcsponsibilities under charity and company law. Our Members, induction pack outlines our Article5 of
Association, board struclure, organisational structure, decision making processes, and our overview of finances.
Our formal induction provides new board members with the infornialion and training they need to take up their
appointment as effectively as possible.
Finance, Pay and Remuneration
First Steps operates robust financial procedures which the Board regularly review and independently assess. We
have clear financial management systems to ensure effective and appropriate use of spend. administering
resources cost-effectively, transparently and accountably with clear audit trails.
All Board members give their time freely and no member received any remuncration during the year.

NEWHtLL FIRST STEPS CHILDCARE CENTRE LTD
TRUSTEES, ANNUAL REPORT
CLUDING THE DIRECTORS, REPOR
FOR THF YEAR ENDED 31 MARCH 2023
Organisational structure
The Board administers the charity and nonnally meets at least I I times per year. As part of its structure the Board
operates three sub committees: finance, audit and risk; human resources, and remuneration. The Board appoint a
chief executive to manage the charity's day to day operations. To ensure effective daily manag¢ment the manager
has delegated authority Wlthin ternis of delegation through th¢ Board's approval for operational matters including
finance, employment and dirext charitable activities.
Risk Management
Our approach to the management of risk is infonned by the n¢ed to ensure that the risks inherent in the pursuit
of our objectives ar¢ underslood, will be manageable if realised, and that appropriate mitigation measures are
planned or in place. Responsibility for the managem¢nt of specific risks is carried by named individuals and
groups, but th¢ highest level risks, those that have a direct bearing on the Newhill First Sieps Childcare Centre
E,td capacity to achieve its strategic objectives, are managed by the senior management team. The Newhill First
Steps Childcare Centre Ltd finance and audit risk Committee plays an active role in risk monitoring and have a
risk managemcnt strategy that comprises:
An annual review of the principal risk and uncertainlies that the charity takes;
The establishment of policies, systems and procedures to anticipate risks in the annual review; and
The implemcntation of procedures designed to minimise or manage any potential impact on the charity should
those issues materialise.
Reputational Riskg: The Trustees are conscious of the importance of its reputation as a well run organisation
d¢livering publiL bencfit and have undertaken steps to ensure Newhill first Steps Childcare Centre Ltd
governancc and managemcnt structures arL' robust and give confidence to all stak¢hold¢rs and operate in linc with
our values.
Financial Risks: The organisation exposes itself to a variety of financial risks. Measures to mitigate this risk
includc strong budgctsry management and cost control and proactive ne8Otialions with tenants and kcy
stakcholders.
Health and Safety Risky: The Trustees recognisc th¢ importAnce of safety in all of our services. Newhill First
Step5 Childcare Centre Ltd implcments robust systems and structures to cnsure all health and safety regulations
ar¢ complied with,
Legal and RegulAtory Risks: Thc charity is required to comply with 8 wider range of legal and regulatory
obligations. Policics and procedures are in place to ensure compliance with these obligations, however, there
inevitably remains a residual risk of an operational failure resulting in a breach of these obligations.
Xnsurable Risks: The organisation incurs exposure to employer, public and propety damage liability by virtue
of the nature of its op¢rations. While a stron8 emphasis is placed on health and safety and risk management
practices to avoid liability arising, insurance cover is maintained to mitigate the financial impact from such
events.
Performance Risks: There is a risk that the high quality of our services may not be maintained and we perfonn
below the expectations of our funders as set out in thcir service level agreements. The trustees monitor
performance on an ongoing basis and have implemented annual service audit programmes as well as staff and
service uscr surveys to provide them with assurance in this regard.

NEWHILL FIRST STEPS CHILDCARE CENTRE LTD
TRU
TEES, ANNUAL REPORT
INCLUDING THE DIRECTORS, REPORT
FOR THE YEAR ENDED 31 MARCH 2023
Financial Review and Results for the Year
Financial Revieiv
Incoming resources have decreased from £426,348 in the year ended 31 March 2022 to £423,134 in the year
ended 31 March 2023. Resources expended on charitable activities have increased from £411,539 to £453,095
in the year ended 31 March 2023. As a result, net outgoin&i resources amounted to £29,961 for the year ended
31 March 2023 compared to net incoming resources in 2022 of £14,809. The results for the year are set out in
Statemcnt of Financial Activitics on pa8e 15 and in the related notes.
The company had net assets of £564,965 as at 31 March 2023 (2022: £594,926) as detailed on the Statement of
Financial Position on page 16.
Reserves Policy and Golng Concern
At 31 March 2023 free reserves amounted to £80.805 of which all £70,000 has been designated to cover Costs
including exp¢nditure on upcoming programmc5 and redundancy payments. Thc trustces hav¢ considered futurc
financial projections and future funding requirements and have a reasonable expectation that the charity has
adequatc resources to continue in operational exislencc for the foreseeable future and for this reason they continue
to adopt the going concern bases in preparing the financial slatcments. Further details regarding the adoption of
the going conccrn basis can be found in th¢ accountins policies.
Events after the Balance Shect Date
'rh¢r¢ We￿ no significant events affecting the company after the ycar end.
Plans for the Future
The company aims to advance discussions with other local childcare care providers with regards to mergers and
rationalisation of services.
Tru5tees' Responsibility StatemeDt
The trustees, who are also directors for the purposes of company law, are responsible for preparing the trustees,
report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards
(Unitsd Kingdom Generally Accepted Accounting Practicc).
Company law require5 the charity trustecs to prepare financial statements for each year which give a true and fair
view of the state of affairs of the charitable company and the incoming resources and application of resources,
including the income and expenditure, for that period.
In preparing these financial statements, the trust¢e5 are required to:
select suitable accounting pol icies and then apply them consistently.
observe the methods and principles in the applicable Charities SORP;
make judgements and accounting estimates that are reasonable and prudent"
prepare the fmancial statements on the going concern basis unless it is inappropriate lo presume that the
charity will continue in business.

NEWHILL FIRST STEPS CHILDCARE CENTRE LTD
TRUSTEES, ANNUAL REI PORT
NCLUDING TItE DIRECTORS, REPORT
FOR THE YEAR ENDED 31 MARCH 2023
The trustees are r¢sponsibl¢ for keeping adequate ac¢ounting re¢ords that are sufficient to show and explain the
charity's transactions and disclose with reasonable aGcuracy at any time the financial position of the charity and
enable them to ensure that the financial statements comply with the Companies Act 2006. They are also
responsible for safeguarding the assets or the charity and hence for taking reasonable steps for the prevention and
detection of fraud and other irre8ularitics.
Auditor
Each of thc pcrsons who is a trustee at the date of approval of this report confirms that:
so far as they are aware, th¢r¢ is no relevant audit information of which the charity's auditor is unaware; and
they have taken all stcps that they ought to have taken as a trustee to make thcmselves aware of any relevant
audit information and to establish that the charity's auditor is aware of that infomation.
The auditor is deemed to have been reappointed in accordance with Section 487 of the Companies Act 2006.
Small eompany provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small
companies, exemption.
This
eport was approved by the board on 18 December 2023 and signed on its behalf by:
. M¢Geown
Trustee

NEWHILL FIRST STEPS CHILDCARE CENTRE LTD
INDEPENDENT AUDITOR'S REPORT TO THE Tr￿mBERs
FOR THE YEAR ENDED 31 MARCH 2023
Opinion
We have audited the financial statements of Newhill F irst Steps Childcare Centre Ltd (the 'charity') for the
year ended 31 March 2023 which comprise the statement of financial activities (including income and
expenditure account), statement of financial position and the relat¢d notes, including a summary of significant
accounting policies. The financial reporting framework that has bcen applied in their prcparation is applicable
law and the United Kingdom Accounting Standards including FRS 102 The Financial Reporting Standard
applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
give a true and fair view of the state of the charity's anairs as at 31 March 2023 and of its incoming resources
and application of resources, including its incomc and cxp¢nditur¢, for th¢ y¢ar thcn ¢nd¢d'
have been properly prepared in accordance with United Kingdom Generally Acc¢pted Accounting Practice.
and
have been prepared in accordance with the rcquirements of the Companies Act 2006.
Bayis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAS (UK)) and
applicable law. Our responsibilities under those standards are further describ¢d in the auditor's r¢5ponsibilities
for the audit of the financial statcments section of our rcport. We are indepcndent of the charitable company in
accordance with the ethical requirements that are ￿levant to our audit of the financial statements in the UK.
including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordtmce with
these requirements. We b¢li¢ve that the audit evidenle w¢ have obtained is sufficicnt and appropriate to providc
a basib for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have Concluded that the trustees, use of th¢ going concern basis of
accounting in the preparation of the financial statements is appropriate.
B&sed on the work we have perfonned, we have not identified any material uncertainties relating to events or
conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a
going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the
relevant s¢ctions of this report.
10

NEWHILL FIRST STEPS CHILDCARE CENTRE LTD
INDEPFNDENT AUDITOR'S REPORT TO THE MEMBERS
FOR THE YEAR ENDED 31 MARCH 2023
Other information
The other infomation comprises the infornation included in the annual report. other than the financial
statements and our auditor's report thereon. The trustees are r¢sponsible for the other inforniation. Our opinion
on the financial statements does not Cover the other infonnation and, except to the extent otherwise explicitly
stated in our report, we do not express any fom of assuranc¢ conclusion thcreon.
In Connpxtion with our audit of the financial statements, our responsibility is to read the other information and,
in doing so, consider whether the other information is materially inconsistent with the financial statements or
our knowledge obtained in thc audit or otlierwise appears to be materially misstated. If w¢ identify such material
inconsistencies or apparent material misstatements, we are required to detemine whether there is a material
misstatement in the financial statements or a material misstatement of the other inforniation. If, based on the
work we have perfom]ed, we conclude that there is a material misstatement of this other infonnation, we are
required to report that fact.
We have nothing to report in this regard.
Opinions on other matters pr￿cribed by the Companies Act 2006
In our opinion, bascd on the work undertaken in the course of the audit:
the inforniation given in the trustees, report for the financial year for which the financial statements are
prepared is con51Stent with the financial statements; and
the trustees, report has been prepared in accordanc¢ with applicable legal requirements.
Matters on Ivhich we &re required to report by exeoption
In th¢ light of ihc knowlcdgc and undcrstanding of lh¢ company and its environment obtsined in the ¢ours¢ of
the audit, we have not identified material misstatements in the Irustees, report.
We have noihing to report in respect of the following matters in relation to which the Companies Act 2006
requires us to report to you if, in our opinion:
adequate accounting records have not been kept, or returns adequate for our audit have not been rec¢ived
from branches not visited by us; or
the financial statements are not in agr¢ement with the accounting records and returns; or
certain disclosures of trustees, remuneration spc¢ified by law are not made; or
we have not received 811 the infornialion and explanations we require for our audit: or
the trustees were not entitled to prepare the financial statements in accordance with the small companies,
regime and take advantag¢ of the small companies. exemption in preparing the trustees. report and from the
requirement to prepare a strategic report.

NEWHILL FIRST STEPS CHILDCARE CENTRE LTD
li
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS
FOR THE YEAR ENDED 31 MARCH 2023
Respolls5btiitiu of trustees
As explained more fully in the trustees, responsibilities statement, th¢ trustccs, (who ar¢ also the directors for
the purposes of company law), are responsible for the preparation of the financial statements and for bein8
satisfied that they give a true and fair view, and for such internal Control as the trustees detennine is necessary
to enable the preparation of financial statements that are free from material misstatement, whether due to fraud
or error.
In preparing the financial statements, th¢ trustees are responsibl¢ for assessing thc charitable company's ability
to continue as a going concem, disclosing, as applicable, matters rclated to going concern and using the going
concern basis of accounting unless the trustees either intend to liquidate the charitable company or to ceose
operations, or have no realistic alternative but to do so.
Auditor's responsibilities for the audit of the fiDancial statements
Our objectives are to obtain re&8onable assurance about whether the financial statements as a whole ar¢ frce
from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our
opinion. Reasonable &5surance is 8 high level of assurance, but is not a guarantee that an audit conducted in
accordance with ISAS (UK) will always detect a material misststement when it exists. Mibsiatemenls can arise
from fraud or error and are considured material if, individually or in the aggregate, they Could reasonably be
expected to influence the economic decisions of users taken on the basis of these financial statements.
Extent to which the audit was eapable of detecting irregularilies, including fraud
Irregularities, includin8 fraud, are instances of non-compliance with laws and regulations. We identified and
asscssed the risks of material misstatemenl of the financial statements from irregularities. whether due to fraud
or crror, and discussed these between our audit team mcmbers. We then designed and perfonned audit
procedures responsive to those risks, including obtaining audit evidence sufficient and appropriate to provide
basis for our opinion.
We obtained an understanding of the legal and regulatory frameworks within which the charity operates,
focusing on those laws and regulations that have a direct effect on the detennination of material amounts and
disclosures in the financial statements. We assessed the required Compliance with these laws and regulations as
part of our audit procedures on the related financial statement items. In addition, we considered provisions of
other laws and regulations that do not have a direct effect on the financial statements but compliance with which
might be fundamental to the charily's ability to operate or to avoid a material penalty. We also considered the
opportunities and incentives that may exist within the charity for fraud.
In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-
compliance with laws and regulations, we considered the following:
the nature of the industy and sector, control environment and business perfornlance including the design of
the remuneration policies. bonus levels and perforniance targets.
results of our enquiries of management about their own identification and assessment of the risks of
irr¢gularities'
12

EWHILL FIRST STFPS CHILDCARE CENTRE LTD
IIWEPENDENT AUDITOR'S REPORT TO THE MEMBERS
FOR THE YEAR ENDED 31 MARCH 2023
any matters w¢ identified having obtained and reviewed documentation of their policies and procedures
relating to:
identifying, evaluating and complying with laws and regulations and whether management were aware
of any instances of non-compliance;
detecting and responding to the risks of fraud and whether management have knowledge of any actual,
suspected or alleged fraud;
the internal ¢ontrols estsblished to mitigate risks of fraud or non-compliance with laws and regulations;
the mattcrs discussed among the audit engagement team including significant component audit teams and
relevant internal specialists, including tax and valuations specialists regarding how and where fraud might
occur in the financial statements and any potential indicators of fraud.
Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some
material misstatements in the financial statements, even thougyh we have properly planned and perfom]ed our
audit in a¢cordanc¢ with auditing standards. In addition. as with any audit, there remained a higher risk of non-
dctcction of irregularities, as these may involve collusion, forgery. intentlonal omissions, misrepresentations, or
the override of internal controls. We are not responsible for preventing non-compliance and cannot be expected
to detect non-compliance with all laws and regulations.
A further description of our rcspon5ibilities for the audit of the financial statements is located on the Financial
Reporting Council's website at: www.frc.org.uk/auditorsresponsibililies. This description fomis part of our
Auditor's Report.
We also communicated rclevant identified laws and regulations and potential fraud risks to all audit team
members and rcmaincd alert to any indications of fraud ornon-compliance with laws and rcgulations throughout
the audit.
As part of an audit in accordancc with ISAS (UK), we exercise professional judgment and maintain professional
scepticism throughout the audit. We also:
Identify and assess the risks of material misslatement of the financial statements, whether due to fraud or
crror, design and perforn] audit procedures responsive to those risks, and obtain audit evidence Ihat is
sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement
resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery,
intentional omissions. misrepresentations, or the overridc of internal control.
Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are
appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of
the internal control.
Evaluate the appropriateness of accounting policies used and the reasonablencss of accounting estimates and
related dis¢losur¢s made by the trustees.
We communicate with those charged with governance regarding. among other matters, the planned scope and
timing of the audit and significant audit findings, Including any significant deficiencies in internal control that
we identify during our audit.
13

NFWHILL FIRST STEPS CHILDCARE CENTRE LTD
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS
FOR THE YEAR ENDED 31 MARCH 2023
Use of our report
This rcport is made solely to the ¢harity'S members, as a body> in accordance with Chapter 3 of Part 16 of the
Companies Act 2006. Our audit work has been undertaken so that we might state to the charity's members
those matters wc are requir¢d to state to them in an auditor's report and for no other purpose. To the fullest
extent pern]itted by law, we do not accept or assume responsibility to anyone other than the charity and the
charity's members as a body, for our audit work, for this report, or for the opinions we have fonned.
Hughes House
617 Church Street
Bgnbridge
BT32 4AA
18 December 2023
Paul Cummings (
nior Statutory Auditor)
For and on behal
of JoDes Pet¢r
Chartered Accountants and
StAtutory Auditor8
14

NFWHILL FIRST STEPS CHILDCARE CENTRE LTD
STATEMENT OF FINANCIAL ACTIvrrIES
INCLUDING INCOME AND EXPENDITURE ACCOUN
FOR THE YEAR ENDED 31 MARCH 2023
Unrestrleted
Funds
Restricted
Funds
31 March
2023
31 March
2022
Note
Incom¢
Jncomefrom charilable aclivilies..
Grants and contracts
3a
22,032
29,578
51,610
82,118
Activities for Benerating funds
3b
371.524
371,524
232,338
Other income
Tot41 income
42
ExpendSture
Fxpenditurc on charitable activilics
Totlll expendlture
41
Net Incomd(cxpcndilurc) and net
movement in funds for the yCAr
(22,237)
(7,724)
(29,961)
14,809
ReeonciliAtion of funds
Total fundg brought fornrd
Total funds carrlcd forward
The statement of financial activities includes all gains and losses recognised in the year. All income and
expenditure derives from continuing activities.
The notes on pages 17 to 23 form aD integral part of these financial ststements.
15

NEWHILL FIRST STEPS CHILDCARE CENTRE LTD
STATEMENT OF FINANCIAL POSITIOIY AS AT 31 Iv￿ARcH 2023
Note
3110312023
3110312022
Fixcd assets
484,160
495,515
Current assets
Debtors
Cash at bank and in hand
10
21,733
6,337
129 717
136,054
107,332
Credltors .
Amounts falling due
within one year
11
Net current assets/(liabllitles)
89,870
119,620
Creditors:
Amounts fallin8 due after mor¢ than one year
12
Net a&gets
The funds of th¢ charity:
Unrestricted funds
14
564,965
587,202
R¢strlcted funds
14
Total charity funds
These financial statements have been prepared in accordance with the provisions applicabl¢ to companies
subject to the small companies regime.
The financial statements were approved and authorised for issue by the board of trustees on 18 December
2023 and signed on its behalf by:_
C. Fittsimons
J. McGeown - Trustee
Registration Number: N1055960
The llotes on pages 17 to 23 form an integral part of these financial statements.
16

NEWHILL FIRST STFPS CHILDCARE CENTRE LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEARENDED 31 MARCH 2023
ACCOUNTING POLICIES
Thc principal accounting policies are summarised below. The accounting policies have been applied
onsistently throughout the year and the preceding year.
Basis of preparation
The financial statements have been prepared in accordance with Accounting and Reporting by
Charities: Statement of Recommended Practice applicable to charities preparing their accounts in
accordancc with the Financial Reporting Standard applicable in the UK and Republie of Ireland
(Charities SORP (fRS 102)), the Financial Reporting standard applicable in th¢ UK and Republic of
Ireland (FRS 102) and the Companies Act 2006.
Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise
stated in ￿levant accounting policy notes.
1.2 Going concern
The charity had free reserves of £80,805 and net assets of £564,965 at the year end,
The Trustees have considered the potential financial effects from th¢ changing economic environment
for the upcoming 12 months, including the potential impact on ongoing funding and are taking
mitigating actions. They have considered financial projections for the pcriod to 31 December 2024
and have a reasonable expectalion that the charity has adequate resources to ensure that the charity
will conlinuc to operate.
The trustees believ¢ that there are no material unccrtainties about the ability of thc charity to continue
in operalional cxistence and the financial statLments havc been prepared on a going concern basis.
1.3 Public benefit entity
Ncwhill li irst Steps Childcare Centre Ltd meels the definition of a public benefit entity under FRS
102.
1.4 Incoming resoure
Income is recognised whcn the charity h&s cntitlement to the funds, any perforniance conditions
attached to the itcm(s) of income have been met, it is probable that the income will be received and
the amount can be mcasured reliably.
Income from govemment and other grants, whether 'capital' grants or 'revenue' grants, is recognised
when the charity has entitlement to the funds, any perforniance Conditions attached to the grants have
been meL it is probable that the income will be received and the amount can be measured reliably
and is not deferred.
Donated services or facilities are rexognised as income when the charity has control over the item,
any conditions associated with thc donated item have been met, the receipt of economic benefit from
the use by the charity of the item is probable and that economic benefit can be measured reliably. A
corresponding amount is then recognised in expenditure in the period of receipt.
17

NEWHILL FIRST STEPS CHILDCARE CENTRE LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
Resources expended
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any
VAT which cannot be fully recovered, and is reported as part of the expenditure to which it relates.
Charitable expenditure comprises those costs incurred by the Charity in th¢ delivery of its activities
and services for its beneficiaries. It includes both costs that can be allocated directly to su¢h activities
and those costs of an indirect nature neccssary to support them.
1.6 Fund accounting
(i)
Unrestricted fvnds - the unrestricted fund is under th¢ control of the Trustees, to be used in
the furtherance of the general objectives of the company.
(li) Restricted funds - the restricted funds represent incomelgrants received where the donor has
imposed restrictions on the use of the funds which are legally binding on the Trustees. The
ost of raising and administering such funds are char8ed against the specific fund,
Tangible fIXL￿ assets
Tangible fixed assets are stated at cost less accumulated deprcciation and accumulated impainnent.
Cost includes cost directly altributable to makin8 assel capable of operating as intended.
DepreclAtlon
Tangible fixed assets are stated at cost less accumulated depreciation. Dcpr¢¢iation is provided at
rates calculated to write off the cost less residual value of each asset on a straight line basi5 over its
expccted useful life 85 follows:
Long Leasehold property
Fixtures & fittin8S
20/0 Straight line
200/0 Straight line
1.9. Finan¢ial instruments
The trust only has financial assets and financial liabilities of a kind that qualify as basic financial
instruments. Basic financial instruments are initially rccognised at transaction value and subsequently
measured at their settlement value with the exception of bank loans which are subsequently measured
at amortised cost using the effective interest method.
1.1 O Defined eontribution pensfion schemes
The pension costs charged in the financial statemenls represent the contribution payable by the
company during the year.
LEGAL STATUS OF THE CHAIUTY
Newhill First Steps Childcare Centre Ltd is a company limited by guarantee and accordingly does not have
a share Gapital. Every rnember of the company undertakes to contribute such amount as may be required not
exceeding £1 to the assets of the charitable company in the event of its being wound up while he or she is a
member, or within one year after he or she ceases to be a member. With effect from 4 June 2020 Upper
Springfield Development Trust Ltd became the sole member of the company.
18

NF.WHILL FIRST STEPS CHILDCARE CENTRE LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
INCOME
Unrestricted Restricted 3110312023
3110312022
Funds
Funds
Total Funds Total Funds
3a. Income from grants and contracts
Early Years Pathway Fund
Belfast Health & Social Care Trust
West Bclfast Partnership Board
Belfast Met
Education Authority
Big Loltery
IISBC,
Bclfast City Council
29,578
29.578
20,032
2,000
29,578
17,927
1,000
5.626
12,211
9,988
2,500
20.032
2,000
Income from grants and contracts was £51,610 (2022: £82,118) of which £29,578 was restricted
(2022: £55,354) and £22,032 was unrestricted (2022: £26,764).
Unrestricted Restricted 3110312023
3110312022
Funds
Funds
Total Funds Total Funds
3b. Income from gen¢rAtlnR fuDd$
Gencrated funds
371524
371524
232 338
In¢orne from generated funds was £371,524 (2022: £232,338) all of which was unrestricted.
Unrestrlcted Restrleted 3110312023
3110312022
Funds
Funds
Total Funds Total Funds
3¢. Other ineome
Coronavirus Job Retention Scheme
Community Recovery Support Fund
Covid-19 Grant
Early Years Covid Relief Support Fund
Insurance Claim
1,002
50,000
26,890
Therc was no other income during the year. In 2022 other income was £1 l E,892 of which £11,309
was restricted and £1 00,583 was unrestricted.
19

NEWHILL FIRST STEPS CHILDCARE CENTRE LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
EXPENDITURE
Unrestricted Restricted 3110312023
3110312022
Funds
Funds
Total Funds Total Funds
Charltable activities
Staff costs
Premises costs
Depreciation
Other operating costs
Programme Delivery
Governance costs (see note 5)
302,685
43,566
11,355
3,078
49,873
29,578
7,724
332,263
51,290
11,355
3,078
49,873
278,669
57,564
2,032
57,131
02
Expenditure on charitable activities was £453,095 (2022: £411,539) of which £37,302 (2022: £58,939)
was restricted and £415,793 (2022: £352,600) was unrestricted.
ANALYSIS OF GOVERNAIYCE COSTS
Unrestrleted Rebtrlcted 3110312023
3110312022
Funds
Funds
Tot41 Funds Total Funds
Accounlancy/AudiVConsultancy
Legal and professional fees
4,660
4,660
4,603
425
NET INCOMINGIOUTGOING SOURCES FOR THF YEAR
3110312023
3110312022
This is stated after charging:
Dep￿CIall0n
Auditors, remuneration
11,355
11,115
ANALYSIS OF STAFF COSTS AND TRUSTEE REMUNERATION
3110312023
3110312022
Salaries and wages
Social security costs
318,645
268,017
No employee had employee benefits in excess of £30,000 (2022: Nil).
During the year, no trustees received any remuneration (2022: Nil) or any Benefits in Kind (2022: Nil).
20

NEWHILL FIRST STEPS CHILDCARE CENTRE LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
STAFF NUMBERS
The average number of full-time equivalent employees during the year were as follows:_
3110312023
3110312022
Number of staff
TANGIBLE FIXED ASSETS
Long Leasehold Fixtures, fittings
Property
& equipment
Total
At l April 2022
Additions
At 31 March 2023
500,000
6,776
506,776
Depreciation
At l April 2022
Charged during the year
At 31 March 2023
10,000
1,261
11,261
616
Net book value
At 31 March 2023
At 31 March 2022
I'he bases by which depreciation is calculated are stated in note 1.8.
Thc long leasehold properly is stated at fair value in accordance with Royal Institution of Chartered
Surveyors (RICS) ' Rcd Book Global Standards. Thc property was valued at 31 March 2022 by Osborne
King, Commercial Property Consultants. Tho trustees arc satisfied that the valuation of £500,000 is still
appropriate at 31 March 2023.
10. DEBTORS
3110312023
3110312022
Prepayments and Accrued income
CREDITORS: Amounts falling due within one year
3110312023
31103ll022
Loan- Community Finance Ireland
Accruals
Other Creditors
12,000
4,368
12,000
3,500
934
12. CREDITORS: Amounts falling due after more than one year
3110312023
3110312022
Loan - Community Finance Ireland
The loan from Community Finance Ireland is secured by a first legal charge over the property at
265 Old Whiterock Road, Belfast.
21

NEWHILL FIRST STEPS CHILDCARE CENTRE LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
13. FINANCIAL INSTRUMEIYTS
All financial instruments have been recorded at their transaction price. No other financial instruments
exist other than those included in debtors and creditors.
14. ANALYSIS OF CHARITABLE FUNDS
Balance at
l April 2022
Incoming
Resourc¢s
Outgolng
Resources
Balance at
31 March 2023
Total Unrestricted Funds
Total Restricted Funds
Total Funds
587,202
393,556
415.793
564,965
Balance at
l January 2021
Incoming
Resources
Outgoing
Resources
Balance at
31 March 2022
Total Unrestricted Funds
Total Restricted funds
Total Funds
580.117
359,685
352,600
587,202
15. ANALYSIS OF NET ASSETS BETWEFN FUNDS
Analysis of net assets
Unrestricted
Funds
Restricted
Funds
31 March 2023
Total
Fixed assets
Net assets/(liabilities)
484,160
484,160
Analysis of net assets- previous year
Unrestricted
Funds
Restricted
Funds
31 March 2022
Totfdl
Fixed assets
Net assets/(liabilities)
495,515
495,515
22

NFWHILL FIRST STEPS CHILDCARE CENTRE LTD
NOTES TO THE FINANCIAL STATE￿ENTs
FOR THE YEAR EI NDED 31 MARCH 2023
16. CORPORATION TAXATION
The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988
or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its
charitable objects.
17. CONTINGENT LIABILITY
A contingent liability exists to repay grants rcceived should certain conditions not be fulfilled by the
Gharitable company. In the opinion of the trustees the ternis of the letters of offcr hav¢ been, or will
be, complied with and no liability is expected to occur.
18. RELATED PARTY TRANSACTIONS
Upper Springfield Development Trust Limited (USDT) is the 501e member and is considered to be the
parenl company of Newhill First Steps Childcare Ccntre Ltd.
Management charges paid to USDT amounted to £5,200 (2022: £7,020).
23