CharRty Number: NIC 106073
Company Number: Nl 055960
NE
ILL
tRST STE
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ENI'RE LTD
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NEWHILL FIRST STEPS CHILDCARE CENTRE LTD
REPORT OF THE DIRECTORS AND FIIYA]YCIAL STATEMENTS
YEAR ENDED 31 MARCH 2023
TABLE OF CONTENTS
PY4ge
Company Infom]ation
Trustees. Annual Report (Rncluding the Directors, report)
Independent Auditor's R¢port to the members
10-14
ststement of Financial Aclivities (including income and cxpenditure account)
15
Statement of Financial Position
16
Notes to the Financial Statements
17-23

NEWHILL FIRST STEPS CHILDCARE CENTRE LTD
COMPANY INFORMATION
Compydny registration number
N.1. 055960
Charity r¢gistrAtion number
NIC 106073
Directors and trustees
Cathy Fitzsimons
John McG¢own
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
Joncs Pelcrs
Regislered Auditors
Chartered Accountants
6 Church Street
Banbridge
BT32 4AA
Bankers
AIB
26 University Road
Belfast
BT7 INH
Solicitors
Edwards & Co. Solicitors
28 Hill Street
Belfast
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 the ycar ending 31 March 2023
The trustees are pleased to p￿sent 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 meet the requirements for a
directors, report and accounts for Companies Act purposes.
The financial statements comply with current statutory requirements including the Charities Act (Northern
Ireland) 2008 amended by the Chariti¢s Act (Northern Ireland) 2013. compani￿ Act 2006, the Charity's
Memorandum and Articles of Association, A¢¢ounting and Reporting by Charities: Statement of Recommended
Practice applicable to charities preparing their aLcounts in accordance with the Financial Reporting Standard
applicable in the UK and Republic of Ir¢land (FRS 102),
Principal Actlvity
First Step's objective is to encourage the provision of scrvices, training, recreation and other leisure time
occupation for children aged 0-8 years within N. Ireland. Those who require such services by reason of their
youth, povety, disablement or social and economic circumslanccs and which will improve the conditions of the
young peoples lives by providin8 for their mental and spiritual wellbeing.
Statement ofpubli¢ Bcnefit
I'h¢ charity's purpose is to:
advance th¢ education, development, physical and emotional wellbein8 of children.
to relieve those in need by reason of their youih, providing facilities for leisure-time occupation, so
that their conditions of life may bc improved.
To relleve and prevent poverty
The charity does thi5 by providing affordable daycare to pre-school children within the Upper Springficld /
Whiterock area of West Bclfast, an area of high muliiple deprivation. The charity provides high quality facllities
which educate 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 dir¢¢t benefits which flow from these purposes are th¢ 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
services 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 ora high quality daycare facility for pre-school children which meets statutory
requirements.

NEWHILL FIRST STEPS CHILDCARE CENTRE LTD
TRUSTEES, ANf￿AL REPORT
NCLUDING THE DIRECTORS, REPOR
FOR THE YEAR ENDED 31 MARCH 2023
Achievements and Performance
Service Provision
In the year covered by this report the centr¢ continued to have an ongoing, positive impact in a wide range of
are&s which met all our charitable purposes.
Childcare
First Steps core function is the provision of quality early years provision through a SOCTal economy model. This
susIAinable delivery model compliments the Department of Education's vision: 'every young person achieving
to his or her full potential at each 5tagc of his or her development.,
Ther¢ is an extensive body of research pointing to the rolc early education can play in promoting children's
dev¢lopm¢nt. Two points cmerge consistently from the evidence. firstly, children at greater risk of starting
school at a disadvantage have most to gain froin 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 developed in the early years provide the platfom) for later learning. while early deficits
can have lasting consequences for later inequality and social mobility. We also know that early interventions can
have large and lasting effects on children's development.
As noted, the project's catchment area is in some of NI'8 poorcst areas which means people experience social,
educational and health dcprivation from their earlicst days. Iducational disadvantage is a complex and deeply-
rooted issue. Howcver, an educational disadvantage means 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
environm¢ntal factors. A social disadvantage both limits access to educational opportunities and reduces the
ability of childr¢n lo b¢n¢fit from the schooling they do get.
Children growing up in poverty and disadvanta8cd in our designated SOAS are l¢ss likely to do well at school,
This feeds into disadvantages in latcr life and in turn affects their children. To breakthis 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 care matters, not only because it affects the everyday experiences of our
children but because the benefits are only realised if the provision used is high quality. Our different early years
specialilies support quality learning by providing activitics and materials that children find engaging. By
facilitating learning, supplying a developmentally appropriate cnvironment, interesting materials, adequate time
to explore, play and intcract; children find learning e￿Y and fun.
After Sehool Projcct
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 wonders 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.

NEWHtLL FIRST STEPS CHILDCARE CENTRE LTD
TRUSTEES, ANNUAL REPORT
NCLUDING THE DIRECTORS, REPOR
FOR THE YEAR ENDED 31 MARCH 2023
Th¢ projects offer different support:
l. Our children and young people are cared for in a safe and secure play and recreational environment
providin&y children with th¢ safe space that they need while allowing parents some time for work or other
a¢livities.
2. Mixed environments where children and young people can play, do homework and are supported in all
activities. This approach regards after school care not just as a safe haven, but also as providing developmental
support for our children and their families. Social, sporting and cultural activities are part of the daily
activities.
Impact: Outputs and Outcomes
First Steps provides a wide range of services that enables community development to flourish through our own
work and with our community partners.
Day Ca
First Steps Childcare Registration
BHSCT sponsored day care
Summer Scheme
68 daycare placements
72 childcare places
1.045 places
24 places
Strueture, Governallce and Management
Governing Document
First Steps is a company regibtered in N. Ireland, which waq incorporated under the Companies (Northern Ireland)
Order 1986 on 21 July 2005. The company is govcrned by a Memorandum and Article5 of Association. The
company's objc¢tives are charitable in nature and it has eslablishcd charitable slatus. The company's business is
managed by the directorsllrustees who arc considered to be the members ofthe company.
Trust¢e5' Appointment and Training
'rhe trustees recruit and select new trustecs as set out in the governing document. The Board recruits new trustees
with regards to skills, gaps and the n¢w members, potential to make a real contribution to the charity's overall
governance.
The Board predicate trustees, appointments on our organisational values and make new memb¢rs aware of their
legal responsibilities under charity and Company law. Our Members, induction pack outlines our Articles of
Association, board structure, organisational structure, decision rnaking processes, and our overview of finances.
Our formal induction provides new board members with the inforniation and training they need to take up their
appointment as effectively as possible.
Finance, Pay and RemuDerlltion
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 remuneration during the year.

NEWHtLL FIRST STEPS CHILDCARE CENTRE LTD
TRUSTEES, ANNUAL REPORT
NCLUDING THE DIRECTORS, REPOR
FOR THF YEAR ENDED 31 MARCH 2023
Organisational $trueture
The Board administers the charity and nornially 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 managye the charity's day to day operalions. To ensure effective daily management the manager
has delegated authority within tems of delegation through the Board's approval for operational matters including
finance, employment and direct charitable activities.
Rlsk Management
Our approach to th¢ management of risk is infonned by the need to ensur¢ that the risks inherent in the pursuit
of our objectives arc understood, will be manageable if realised, and that appropriate mitigation measures are
planned or in place. Responsibility for the management of specific risks is carried by named individuals and
groups, but the highest level risks, those that have a direct bearing on the Newhill First Steps Childcare Centre
l.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 management strategy that comprises:
An annual review ofthe principal risk and uncertainties that the charity takes;
The establishment of policies, systems and procedures to anticipate risks in the annual review; and
The implemcnlation of procedures designed to minimise or manage any potential impact on the charity should
those issues matcrialise.
Reputatlonydl Risks: Thc Tnjstees are conscious of the importance of its reputation as a well run organisation
delivering public benefit and have undertaken steps to ensure Ncwhill first Steps Childcare Centre Ltd
governancc and managemcnt structures arc robust and giv¢ confidence to all stakeholdcrs and operate in lin¢ with
our values.
Financlal Risks: The organisation exposes itsclf to a variety of financial risks. Measures to rnitigate this risk
includc strong budgctary management and cost control and proactive negotiations with tenants and key
stakcholders.
Health and Safety Risks: The Trustees recognise the importance of safety in all of our services. Newhill First
Steps Childcare Centre Ltd implements robust systems and structures to ¢nsur¢ all health and safety regulations
are complied with.
Legal and Regulatory Risks: The charity is required to comply with a wider range of legal and regulatory
obligations. Policies 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.
Insurable Risks: The organisation incurs exposure to employer, public and property damage liability by virtue
of thc nature of its operations. While a strong emphasis is placed on health and safety and risk rnanagement
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 perforn]
below the expectations of our funders as set out in their service level agreements. The trustees monitor
perforn]ance on an ongoing basis and have implcmented annual service audit programmes as well as staff and
service user surveys to provide them with assurance in this regard.

NEWHILL FIRST STEPS CHILDCARE CENTRE LTD
TRUSTEES, ANNUAL REPORT
NCLUDING THE DIRECTORS, REPORT
FOR THE YEAR ENDED 31 MARCH 2023
Flnaneial Revlew and Results for the Year
Financial Review
Incoming resources have decreased from £426,348 in the year ended 31 March 2022 to £423,134 in thc year
ended 31 March 2023. Resources expended on charitable aclivities have increased from £411,539 to £453,095
in the year ended 31 March 2023. As a result, net outgoin&? 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
Statement of Financial Activities on page 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 expenditure on upcoming programmes and redundancy payments. The trustees have considered future
financial projections and future funding requirements and have a reasonable expectation that the charity has
adequate resources to continue in operational existence for the foreseeable future and for this reason they continue
to adopt the going concern bases in preparing the financial statcments. Further details regarding the adoption of
the going conccrn b&8is can be found in the accounting policies.
Events after the Balance Sheet Date
There were no significant events affe¢ting the company after the year end.
Plans for the Future
The company aims to advance discussions with other local childcarc care providers with re8ards to mergers and
rationalisation of services.
Trustees, Responslbllfity Statement
The trust¢¢s, who are also directors for the purposes of company law, are responsible for preparing thc trustees,
report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards
(United Kingdom Generally Accepted Accounting Practice).
Company law requires the charity trustccs 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 ststements, the trustees are required to:
select suitable accounting policies 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 concem basis unless it is inappropriate to presume that the
charity will continue in business.

NEWHILL FIRST STEPS CHILDCARE CENTRE LTD
TRUSTEES, ANNUAL REPORT
NCLUDING THE DIRECTORS, REPOR
FOR THE YEARENDED 31 MARCH 2023
The trustees are responsible for keeping adequate accounting re¢ords that are sufficient to show and explain the
charity's transactions and disclose with reasonable accuracy at any time the financial position of the charity and
enable them to ensure that the financial statements cornply with the Companie5 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 irregularities.
Auditor
Each of the persons who is a trustee at the date of approval of this report confims that:
so far as they are aware, there is no relevant audit information of which th¢ charity's auditor is unaware. and
they have taken all steps that they ought to hav¢ taken as a trustee to make themselves aware of any relevant
audit information and to establish that the charity's auditor is aware of that information.
The auditor is deemed to have been reappointed in accordance with Section 487 of the Companies A¢t 2006.
Small company provisions
This report has been pr¢pared 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:
. McGcoiYn
Trustee

NEWHILL FIRST STEPS CHILDCARE CENTRE LTD
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS
FOR THE YEAR ENDED 31 MARCH 2023
Opinion
We have audited the financial statements of Newhill F irst Steps Childcare Centre Ltd (the '¢harity') for th¢
year ended 31 March 2023 which comprise the statement of financial activities (including income and
expenditure account), statement of financial position and the related 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 Kin8dom 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 ststements:
give a true and fair view of the state of the charity's affairs as at 31 March 2023 and of its incoming resources
and application of resources, including its income and expenditure, for the year thcn ended;
have bcen properly prepared in accordance with Unitcd Kingdom Generally Accepted Accountin8 Practice;
have been prepared in accordance with the rcquirements of the Companies Act 2006.
Bayis for opinlon
We ¢onducted our audit in accordance wilh International Standards on Auditing (UK) (ISAS (UK)) and
applicable law. Our responsibilitics under those standards are further described in the auditor's r¢sponsibiliti¢s
for the audit of the financial statcments section of our report. We are indepcndent of the charitable company in
accordance with the ethical reqU1￿MentS that are relevant to our audit of the financial statements in the UK,
including the14RC's Ithical Standard, and we have fulfill¢d our oth¢r ethical responsibilitics in accordance with
these requir¢ments. We believe that the audit evidenLe we have obtained is sufficient and appropriate to provide
a basis for our opinion.
Conclusion5 relating to going concern
In auditing the financial statements, we have concluded that the trustees. use of the going concem basis of
accounting in the preparation of the financial statements is appropriate.
Based on the work we have perfonned, we have not identified any material uncertainties relating to events or
onditions 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 sections of this report.
10

NEWHILL FIRST STEPS CHILDCARE CENTRE LTD
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS
FOR THE YEAR ENDED 31 MARCH 2023
Other information
The other inforniation comprises the infonrAation included in the annual report. other than the financial
statements and our auditor's report thereon. The trustees are responsible 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 form of assurance conclusion thcreon.
In connection with our audit of th¢ financial statements, our responsibility is to read the other infonnation and,
in doing so, consider whether the other information is materially inconsistent with th¢ financial statements or
our knowledge obtained in the audit or otherwise appears to be materially misstated. If wc identify such material
inconsistencies or apparent material misstatements, we are required to dct¢nnine whether there is a material
misstat¢mcnt in the financial statements or a material misstatement of the other inforniation. If, based on the
work we have pcrfornied, we conclude that there is a material misstatement of this other infonnation, we are
required to rcport that fact.
We have nothing to report in this regard.
Opinions on other mlltters prescribed by the Companies Act 2006
In our opinion, based on the work undertsken in the course of the audit:
the infonnation given in the trustees, report for the financial year for which the financial statements are
prepared is consistent with the finuncial statements; and
th¢ trustees, report has been prcpared in accordanc¢ with applicable legal requirements.
Matters on which we Are required to report by exception
In thc light of the knowlcdge and understanding ofihe company and its environmenl obtained in the cours¢ of
the audit, we have not identified material misstatcments in the trustees, report.
Wc have nothing 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 received
from branches not visited by us; or
the financial statements are not in agreement with the accounting records and returns; or
• certain disclosures of trustees, remuneration specified by law are not made; or
we have not r¢¢¢ived all the infomation and explanations we require for our audit; or
the trustees were not entitled to prepare the financial statements in accordance with the small companies,
regim¢ and take advantagc of the small companies, exemption in preparing the trustees, report and from the
requirement to prepare & strategic report.

NEWHILL FIRST STEPS CHILDCARE CENTRE LTD
INDEPENDENT AUDITOR'S REPORT TO THE METrIBERS
FOR THE YEAR ENDED 31 MARCH 2023
Responsibilities of trustees
As explained more fully in the trustees, responsibilities statement, the trustccs. (who a￿ also the directors for
the purposes of company law), are responsible for the preparation of the financial statements and for b¢in8
satisfied that th¢y give a truc and fair view, and for such internal control as the trustees detemine 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 stat¢ments, th¢ trustees are responsible for assessing thc charitable company's abilily
to continue as a going concem, disclosing, as applicable, matters related to going concern and using the going
concern basis of accounting unless the truste¢s either intend to liquidate the charitable company or to cease
operations, or have no realistic alternativ¢ but to do so.
Auditor's responslbilities for the audit of the financial gtatements
Our objectives are to obtain re&sonable assurance about whether the financial statements as a wholc are frce
from material rnisstatement, whether due to fraud or error, and to issue an auditor's report that includes our
opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in
accordance with ISAS (UK) will always detect a material misstatement when it exists. Misslatements can arise
from fraud or error and are considered material if, individually or in the aggregatc, they could reasonably be
expected to influence the economic decisions of users taken on the basis of these financial ststements.
Extent to which the Audit was capable of detccting Srrcgularilles, Includlng fraud
Irregularities, including fraud, are instanccs of non-compliancc with laws and regulations. We identified and
asscssed the risks of material mi5Statement 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. W¢ assessed the required compliance with th¢se 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 dircct effect on the financial statements but compliance with which
might be fundamental to the charity'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 indu5ty and sector, control environment and business perfonnance including the design of
the remuneration policies, bonus levels and perforn]ance targets.
results of our enquiries of management about their own identification and assessment of the risks of
irregularities.
12

NEWHILL FIRST STEPS CHILDCARE CENTRE LTD
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS
FOR THE YEAR ENDED 31 MARCH 2023
any matters we identifjed 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 int¢rn&l Controls established to mitigate risks of fraud or nonwcompliance with laws and regulations;
the mattcrs discussed among the audit engagement team including significant component audit teams and
relcvant intcrnal specialists, including tu 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 d¢tected some
material misstatements in the financial statements, even thougih we have properly planned 2nd perfornjed our
audit in accordance with auditing standards. In addition, as with any audit, there remained a higher risk of non-
detection of irregularitie5, as these may involve collusion, forgery, intentional omissions, misrepresentations, or
the override of intemal controls. Wc are not responsible for preventing non-compliance and cannot be expected
to delect non.compliance with all laws and regulations.
A further description of our responsibilities for the audit of the financial statements is located on the Financial
Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forn]s part of our
Auditor's Report.
We also communicated rclevant identified laws and regulations and potential fraud risks to all audit team
members and remaincd alert to any indications of fraud or non-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 misstaternent of the financial statements, whether duc to fraud or
error, design and perforni audit procedures responsive to those risks, and obtain audit evidence that is
sufficient and appropriate to provide a basis for our opinion. The risk of not dctccting a material misstatement
resulting from fraud is higher than for one resulting from error, as fraud may involv¢ 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 disclosures 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

NEWHILL FIRST STEPS CHILDCARE CEIYTRE LTD
MEMBERS
INDEPENDENT AUDITOR'S REPORT TO T
FOR THE YEAR ENDED 31 IIqARCH 2023
Use of our report
This report is made solely to the charity'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 ihe charity, s members
those matters we are r¢quir¢d to state to them in an auditor, s report and for no other purpose. To th¢ fullcst
extent perniitted by law, we do not accept or assum¢ responsibility to anyone other than thc charity and the
harity's members as a body, for our audit work, for this report, or for the opinions we have fonned.
Hughes House
617 Church Street
Banbridge
BT32 4AA
18 December 2023
Paul Cummings {
nior Statutory Auditor)
For and on behal
of Jones Poters
Chartered Accountants 2nd
Statutory Auditors
14

NFWHILL FIRST STEPS CHILDCARE CENTRE LTD
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUN
FOR THE YEAR ENDED 31 MARCH 2023
Unrestrleted
Funds
Restrlcted
Funds
31 March
2023
31 Mareb
2022
Note
Jneome
Jxcomefrom charilable activilies..
Grants and contracts
22,032
29,578
51,610
82,118
Activiti¢s for 8en¢rating funds
3b
371,524
371,524
232,338
Other income
3e
Total income
42
42
Expenditure
F.xpenditurc on charitable activilics
Total expcndlturc
Net iDcomcl{expenditurc) and not
movement in fund5 for the y¢ar
(22,237)
(7,724)
(29,961)
14,809
RcconciliAtion of funds
Total funds brougbt forward
TolAI fund5 carried 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 an integral part of these financial statements.
15

NEWHILL FIRST STEPS CHILDCARE CEINTRE LTD
STATEMENT OF FINANCIAL POSITION AS AT 31 MARCH 2023
Note
3110312023
3110312022
Fixed assets
484,160
495,515
Current assets
Debtors
Cash at bank and in hand
10
21,733
6,337
129
136,054
107,332
Creditors
Amounts fallin8 due
within one year
11
Net current assetsl(liabllitles)
89,870
119,620
Creditors:
Amounts falling due after more than one year
Net assets
12
065
The funds of the Charity:
Unrestricted funds
14
564,965
587,202
Restricted funds
14
Total charity funds
These financial statements have been prepared in accordance with the provisions applicable 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. Fitssimons
J. McGeown - Trustec
Registration Number: N105S960
The notes on pages 17 to 23 form an integral part of these financial statements.
16

NEWHILL FtRST STEPS CHILDCARE CENTRE LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
ACCOUNTING POLICIES
The principal accounting policies are summarised below. The accounting policies have been applied
consistently throughout the year and the preceding ycar.
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 Republic of Ireland
(Charities SORP (FRS 102)), the Financial Reporting standard applicable in the UK and Republic of
Ireland (FRS 102) and the Companies Act 2006.
Assets and liabilities are initially reeognised at historical cost or transaction value unless otherwise
stated in relevant accounting policy notes.
1.2 Going conecrn
Th¢ Charity had free reserves of £80,805 and net assets of £S64,965 at the year end.
The Trustees have considered the potential financial effects from the changing economic environment
for the upcoming 12 months, including the potential impact on ongoing funding and are takin8
mitigating actions. They have considered financial projections for the period to 31 December 2024
and have a reasonable expectation that the charity has adequate resources to ensure that the charity
will conlinue to operate.
Thc trustees believc that there are no material uncertainties about the ability of thc charity to continue
in operational cxistence and the financial statements havc been prepared on a going concern basis.
Public bcnefit entity
Ncwhill First Steps Childcare Centre Ltd meels the definition of a publi¢ benefit cntity under FRS
102.
Incorning resources
Income is recognised when the charity has entitlement to the funds, any perfonnance conditions
attached to the iÉcm(s) of income have been met, it is probable that ihe income will be received and
the amount can bc mcasured reliably.
Income from government and other grants, whether 'capital' grants or 'revenue' grants, is recognised
when the charity has entitlement to the funds, any perfonnance conditions attached to the grants have
been me( it is probable that th¢ income will be received and the amount can be measured reliably
and is not deferred.
Donated services or facilitics are recognised 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
1.5 Resources expended
Expenditure is recognised on an accruals basis as a liability is incurr¢d. Expenditure includes any
VAT which cannot be fully rc¢overed, and is reported as part of the expenditure to which it relates.
Charitable expenditure comprises those costs incurred by the charity in thc delivery of its activities
and services for its beneficiaries. It includes both costs that can be allocated directly to such activities
and those costs of an indirect nature nec¢ssary to support them.
1.6 Fund accounting
(i)
Unrestricted funds - the unrestricted fund is under th¢ control of the Trustees, to be used in
the furtherance of the general objectives of th¢ company.
Restricted funds - the restricted funds represent incomelgranls received where the donor has
imposed restrictions on the use of the funds which are legyully binding on the Trustees. 1.he
cost of raising and administering such funds ar¢ charged against the specifjc fund.
(li)
Tangible fixed assets
Tangible fixed assets are stated at cost less accumulated depr¢ciation and accumulated impairnient.
Cost includes c05t directly attributable to making asset capable of operating as intended.
1.8 DepreciatloD
Tangible fixed assets are stated at cost less accumulated depreciation. D¢prcciation is provided at
rates calculated to write off the cost less residual value of each asset on a straiBht line basis over its
expccted useful life as follows:
Long Leasehold property
Fixtures & fittings
2 % Straight line
200/0 Straight line
1.9, Flnanclal instruments
The trust only has financial assets and financial liabiliti¢s 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 exccption of bank loans which are subsequently measured
at amortised cost using the effective interest method,
l. l O Defined contribution pension schemes
The pension Costs charged in the financial Statements represent the contribution payable by the
company during th¢ year.
LEGAL STATUS OF TIIE CHARITY
Newhill First Steps Childcarc Centre Ltd is a company limited by guarantee and accordingly does not have
a share capital. Every member of the company undertakes to contribute such amount as may be required not
exceeding £ I 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

NEWHILL 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 Lottery
14SBC
Belfast 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
Incomc 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 Restrlcted 3110312023
3110312022
Funds
Funds
TotAI Funds Total Funds
3b. Income from gcneratlng funds
Gcncraled funds
371524
Income from generated funds was £371,524 (2022: £232,338) all of which was unrestricted.
Unrestrleted Restricted 3110312023
3110312022
FuDds
Funds
Total Fund8 Total Funds
3¢. Other income
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
There was no other income during the year. In 2022 other income was £l11.892 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 1￿CH 2023
EXPENDITURE
Unrestriet¢d Restricted 3110312023
3110312022
Funds
Funds
Total Funds Tot81 Funds
Charitable 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
11,115
2,032
57,131
Expenditure on charitable aclivities 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 GOVERNANCE COSTS
Unrestricted Restricted 3110312023
3110312022
Funds
Funds
TotAI Funds Total Funds
AccounlancylAuditlConsulthncy
Legal and professional fees
4,660
576
4,660
576
4,603
425
NET IIYCOMINGIOUTGOING SOURCES FOR THF. YEAR
3110312023
3110312022
This is stated after charging:
Depreciation
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:.
31103r2023
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
000
Net book value
At 31 March 2023
At 31 March 2022
q'he bases by which depreciation is calculated are stated in note 1.8,
The long leasehold properly is Stated at fair value in accordance with Royal Institution of Chartered
Surveyors (RICS) 'Rcd Book Global Standards. Th¢ property was valued at 31 March 2022 by Osborne
King, Commercial Property Consultants. The trustees arc satisfied that the valuation of £500,000 is still
approprtate at 31 March 2023.
10. DEBTORS
3110312023
3110312022
Prepayments and Accrued income
CREDITORS: Amounts falling due wÈthin one year
3110312023
3110312022
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 INSTRUMENTS
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
Bvdlance at
l April 2022
Incoming
Resourccs
Outgoing
Resources
BalaDce 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
Incomln
Resourccy
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 BETWEEN FUNDS
Analysis of net assets
Unrestricted
Funds
Restrlcted
Funds
31 March 2023
Total
Fixed assets
Net assetsl(liabilities)
484,160
484,160
Analysis of net assets- previous year
Unrestricted
Funds
Restricted
Funds
31 March 2022
Total
Fixed assets
Net assetsl(liabilities)
495,515
495,515
22

NEWHILL FIRST STEPS CHILDCARE CENTRE LTD
NOTES TO THE FINANCIAL STATE￿￿￿Ts
FOR THE YEAR ENDED 31 MARCH 2023
16. CORPORATION TAXATION
The charity is exempt from tax on incom¢ 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.
I7. CONTINGENT LIABILITY
A conlingent liability cxists to repay b7rants received should certain conditions not be fulfilled by the
charitable company. In the opinion of the trustees thc ternis of the letters of offcr have been, or will
be, complied with and no liability is expectcd to occur.
18. RELATED PARTY TRANSACTIONS
Upper Springfield DevelopmentTrust Limited (USDT) is the sole membcr and is considered to be the
parenl company of Ncwhill First Steps Childcare Ccntre Ltd.
Management charges paid to USDT amounted to £5,200 (2022: £7,020).
23