Company Registration Number: NI644713 Charity Number: 106894
Northern Ireland Netball
(A company limited by guarantee, not having a share capital)
Abridged Financial Statements
for the financial year ended 31 March 2023
Northern Ireland Netball (A company limited by guarantee, not having a share capital) CONTENTS
| Page | |
|---|---|
| Independent Auditor's Special Report | 3-5 |
| Abridged Balance Sheet | 6 |
| Notes to the Abridged Financial Statements | 7 - 11 |
2
INDEPENDENT AUDITOR'S REPORT to the Members of Northern Ireland Netball
(A company limited by guarantee, not having a share capital)
Report on the audit of the financial statements
Opinion
We have audited the charity financial statements of Northern Ireland Netball ('the charity') for the financial year ended 31 March 2023 which comprise the Abridged Balance Sheet and notes to the financial statements, including the summary of significant accounting policies set out in note 2. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland", applying Section 1A of that Standard and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with FRS 102.
In our opinion, when reporting in accordance with a fair presentation framework the financial statements:
-
give a true and fair view of the state of the charity's affairs as at 31 March 2023 and of its surplus for the financial year then ended;
-
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-
have been prepared in accordance with the requirements of the Companies Act 2006 and the Charities Act (Northern Ireland) 2008.
Basis 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 described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with ethical requirements that are relevant 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 accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, 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 the date 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.
Other Information
The other information comprises the information included in the annual report other than the financial statements and our Auditor's Report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
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 the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.
Matters on which we are required to report by exception
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
-
adequate accounting records have not been kept; or
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the financial statements are not in agreement with the accounting records and returns; or
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certain disclosures of trustees' remuneration specified by law are not made; or
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we have not received all the information and explanations we require for our audit.
3
INDEPENDENT AUDITOR'S REPORT to the Members of Northern Ireland Netball
(A company limited by guarantee, not having a share capital)
Responsibilities of trustees for the financial statements
The trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as they determine 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, the trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless management either intends to liquidate the charity or to cease operations, or has no realistic alternative but to do so.
Auditor's responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, 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. Misstatements can arise from fraud or error and are considered 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.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
Further information regarding the scope of our responsibilities as auditor
As part of an audit in accordance with ISAs (UK), we exercise professional judgement and maintain professional scepticism throughout the audit. We also:
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Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform 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 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 override of internal control.
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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 charity's internal control.
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Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by trustees.
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Conclude on the appropriateness of the trustees' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the charity's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our Auditor's Report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our Auditor's Report. However, future events or conditions may cause the charity to cease to continue as a going concern.
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Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation.
4
INDEPENDENT AUDITOR'S REPORT to the Members of Northern Ireland Netball
(A company limited by guarantee, not having a share capital)
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.
The purpose of our audit work and to whom we owe our responsibilities
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 the charity's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted 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 formed.
__________Mr Mike Nangle (Senior Statutory Auditor) for and on behalf of DNTCA LIMITED Chartered Accountants & Registered Auditors and Statutory Auditor Ormeau House 91-97 Ormeau Road Belfast Antrim BT7 1SH
...............................
5
Northern Ireland Netball
(A company limited by guarantee, not having a share capital) Company Number: NI644713 ABRIDGED BALANCE SHEET
as at 31 March 2023
| 2023 | 2022 | ||
|---|---|---|---|
| Notes | £ | £ | |
| Fixed Assets | |||
| Tangible assets | 6 | - | 10,732 |
| ─────── | ─────── | ||
| Current Assets | |||
| Debtors | 91,712 | 76,095 | |
| Cash at bank and in hand | 120,825 | 83,594 | |
| ─────── | ─────── | ||
| 212,537 | 159,689 | ||
| ─────── | ─────── | ||
| Creditors: Amounts falling due within one year | (74,224) | (72,762) | |
| ─────── | ─────── | ||
| Net Current Assets | 138,313 | 86,927 | |
| ─────── | ─────── | ||
| Total Assets less Current Liabilities | 138,313 | 97,659 | |
| ═══════ | ═══════ | ||
| Funds | |||
| Restricted trust funds | 20,000 | - | |
| General fund (unrestricted) | 118,313 | 97,659 | |
| ─────── | ─────── | ||
| Total funds | 138,313 | 97,659 | |
| ═══════ | ═══════ |
These Abridged financial statements have been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006.
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland", applying Section 1A of that Standard.
Approved by the Board of Trustees and authorised for issue on ________ and signed on its behalf by
________Helen Stirling Trustee
The notes on pages 7 to 11 form part of the abridged financial statements
6
Northern Ireland Netball (A company limited by guarantee, not having a share capital) NOTES TO THE ABRIDGED FINANCIAL STATEMENTS
for the financial year ended 31 March 2023
1. GENERAL INFORMATION
Northern Ireland Netball is a company limited by guarantee incorporated in Northern Ireland. The registered office of the charity is Playball, Stormont Estate, Upper Newtownards Road, Belfast, Down, BT3 4TA, Northern Ireland which is also the principal place of business of the charity. The financial statements have been presented in Pound (£) which is also the functional currency of the charity.
2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the charity’s financial statements.
Basis of preparation
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value. The financial statements have been prepared in accordance with the Statement of Recommended Practice (SORP) "Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland FRS 102", applying Section 1A of that Standard.
As permitted by the Companies Act 2006, the charity has varied the standard formats in that act for the Statement of Financial Activities and the Balance Sheet. Departures from the standard formats are to comply with the requirements of the Charities SORP and are in compliance with section 4.7, 10.6 and 15.2 of that SORP.
Statement of compliance
The financial statements of the charity for the financial year ended 31 December 2017 have been prepared on the going concern basis and in accordance with the Statement of Recommended Practice (SORP) "Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland FRS 102", applying Section 1A of that Standard.
Fund accounting
The following are the categories of funds maintained:
Restricted funds
Restricted funds represent income received which can only be used for particular purposes, as specified by the donors. Such purposes are within the overall objectives of the charity.
Unrestricted funds
Unrestricted funds consist of General and Designated funds.
■ General funds represent amounts which are expendable at the discretion of the board, in furtherance of the objectives of the charity.
■ Designated funds comprise unrestricted funds that the board has, at its discretion, set aside for particular purposes. These designations have an administrative purpose only, and do not legally restrict the board's discretion to apply the fund. £20,000 of unrestricted funds has been allocated to designated funds in anticipation of recruiting an Administrator during the financial year ended 31 March 2024.
Income
Income is recognised by inclusion in the Statement of Financial Activities only when the charity is legally entitled to the income, performance conditions attached to the item(s) of income have been met, the amounts involved can be measured with sufficient reliability and it is probable that the income will be received by the charity.
Income from charitable activities
Income from charitable activities include income earned from the supply of services under contractual arrangements and from performance related grants which have conditions that specify the provision of particular services to be provided by the charity. Income from government and other co-funders is recognised when the charity is legally entitled to the income because it is fulfilling the conditions contained in the related funding agreements. Where a grant is received in advance, its recognition is deferred and included in creditors. Where entitlement occurs before income is received, it is accrued in debtors.
Grants from governments and other co-funders typically include one of the following types of conditions:
■ Performance based conditions: whereby the charity is contractually entitled to funding only to the extent that the core objectives of the grant agreement are achieved. Where the charity is meeting the core objectives of a
7
Northern Ireland Netball
(A company limited by guarantee, not having a share capital) NOTES TO THE ABRIDGED FINANCIAL STATEMENTS
continued
for the financial year ended 31 March 2023
grant agreement, it recognises the related expenditure, to the extent that it is reimbursable by the donor, as income.
■Time based conditions: whereby the charity is contractually entitled to funding on the condition that it is utilised in a particular period. In these cases the charity recognises the income to the extent it is utilised within the period specified in the agreement.
In the absence of such conditions, assuming that receipt is probable and the amount can be reliably measured, grant income is recognised once the charity is notified of entitlement.
Grants received towards capital expenditure are credited to the Statement of Financial Activities when received or receivable, whichever is earlier.
Expenditure
Expenditure is analysed between costs of charitable activities and raising funds. The costs of each activity are separately accumulated and disclosed, and analysed according to their major components. Expenditure is recognised when a legal or constructive obligation exists as a result of a past event, a transfer of economic benefits is required in settlement and the amount of the obligation can be reliably measured. Support costs are those functions that assist the work of the charity but cannot be attributed to one activity. Such costs are allocated to activities in proportion to staff time spent or other suitable measure for each activity.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or at valuation, less accumulated depreciation. The charge to depreciation is calculated to write off the original cost or valuation of tangible fixed assets, less their estimated residual value, over their expected useful lives as follows:
- Plant and machinery 15% Straight line - Fixtures, fittings and equipment 15% Straight line
Debtors
Debtors are recognised at the settlement amount due after any discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. Income recognised by the charity from government agencies and other co-funders, but not yet received at financial year end, is included in debtors.
Cash at bank and in hand
Cash at bank and in hand comprises cash on deposit at banks requiring less than three months notice of withdrawal.
Taxation and deferred taxation
No current or deferred taxation arises as the charity has been granted charitable exemption. Irrecoverable valued added tax is expensed as incurred.
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more tax in the future, or a right to pay less tax in the future. Timing differences are temporary differences between the charity's taxable income and its results as stated in the financial statements.
Deferred tax is measured on an undiscounted basis at the tax rates that are anticipated to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
| 3. | INCOME | ||||
|---|---|---|---|---|---|
| 3.1 | CHARITABLE ACTIVITIES | Unrestricted | Restricted | 2023 | 2022 |
| Funds | Funds | ||||
| £ | £ | £ | £ | ||
| Grants from governments and other co-funders: | |||||
| Sport NI- Performance | - | 134,191 | 134,191 | - | |
| Sport NI- Clubs | - | 93,551 | 93,551 | 99,301 | |
| Athlete Aawards | - | 14,550 | 14,550 | 9,150 | |
| Social Return on Investment | - | 24,000 | 24,000 | - | |
| Covid Recovery | - | 13,859 | 13,859 | - | |
| Local Councils- Home Tournaments | - | 16,143 | 16,143 | - | |
| Here if you Need | - | 17,931 | 17,931 | 20,969 | |
| Rank Foundation/ Start Here Programme | - | 19,802 | 19,802 | - | |
| Lottery Community/ Dormant Accounts | - | 23,333 | 23,333 | - | |
| Executive Office- Good Relation | - | 40,821 | 40,821 | 39,512 |
8
Northern Ireland Netball
(A company limited by guarantee, not having a share capital) NOTES TO THE ABRIDGED FINANCIAL STATEMENTS
continued
| for | the financial year ended 31 March 2023 | |||||
|---|---|---|---|---|---|---|
| Mary Peters Trust | - | 7,100 | 7,100 | 3,562 | ||
| Sporting Winners | - | - | - | 94,766 | ||
| ─────── | ─────── | ─────── | ─────── | |||
| - | 405,281 | 405,281 | 267,260 | |||
| ═══════ | ═══════ | ═══════ | ═══════ | |||
| 3.2 | OTHER TRADING ACTIVITIES | Unrestricted | Restricted | 2023 | 2022 | |
| Funds | Funds | |||||
| £ | £ | £ | £ | |||
| School/ Club Affiliations & Player Regs | 66,312 | - | 66,312 | 40,736 | ||
| Coaching Course | 8,605 | - | 8,605 | 11,194 | ||
| Umpiring Courses | 5,535 | - | 5,535 | 1,222 | ||
| ─────── | ─────── | ─────── | ─────── | |||
| 80,452 | - | 80,452 | 53,152 | |||
| ═══════ | ═══════ | ═══════ | ═══════ | |||
| 3.3 | OTHER INCOME | Unrestricted | Restricted | 2023 | 2022 | |
| Funds | Funds | |||||
| £ | £ | £ | £ | |||
| Other income | - | - | - | 13,859 | ||
| Squad Contributions | 43,687 | - | 43,687 | 31,218 | ||
| Camps | - | - | - | 6,320 | ||
| Merchandise | 4,157 | - | 4,157 | 190 | ||
| Ticket Sales | 28,923 | - | 28,923 | 2,915 | ||
| Kit | 17,281 | - | 17,281 | 5,866 | ||
| Sponsorship/ Fundraising | 21,356 | - | 21,356 | 10,356 | ||
| Primary Schools Programmes | 195 | - | 195 | - | ||
| Trials | 5,228 | - | 5,228 | - | ||
| ─────── | ─────── | ─────── | ─────── | |||
| 120,827 | - | 120,827 | 70,724 | |||
| ═══════ | ═══════ | ═══════ | ═══════ | |||
| 4. | EXPENDITURE | |||||
| 4.1 | CHARITABLE ACTIVITIES | Direct | Other | Support | 2023 | 2022 |
| Costs | Costs | Costs | ||||
| £ | £ | £ | £ | £ | ||
| Admin Salaries | 201,494 | - | - | 201,494 | - | |
| Affiliations & Competition | 5,959 | - | - | 5,959 | 5,799 | |
| Sporting Clubs Programme | 20,253 | - | - | 20,253 | 20,819 | |
| Rank Foundation/ Start Here | 412 | - | - | 412 | - | |
| Programme | ||||||
| Insurance- Clubs; Public & | 6,010 | - | - | 6,010 | 7,421 | |
| Employers liability | ||||||
| HIYN | 2,778 | - | - | 2,778 | - | |
| Good Relations | 13,123 | - | - | 13,123 | - | |
| Kit/ Uniform | 32,239 | - | - | 32,239 | 8,494 | |
| Squads- pathways | 12,301 | - | - | 12,301 | - | |
| Commonwealth Games | 17,061 | - | - | 17,061 | - | |
| Sporting Winners | 88,869 | - | - | 88,869 | 61,123 | |
| Athlete Awards | 14,550 | - | - | 14,550 | 9,400 | |
| Social Return on Investment | 24,000 | - | - | 24,000 | - | |
| Squads- National | 15,985 | - | - | 15,985 | - | |
| Courses- Coaching & Umpiring | 32,747 | - | - | 32,747 | 28,747 | |
| Home Events- Europe Netball | 14,478 | - | - | 14,478 | - | |
| Competitions | ||||||
| Venue Hire | 5,920 | - | - | 5,920 | - | |
| Staff Costs | 16,454 | - | - | 16,454 | 222,799 | |
| Lottery Community | - | 5,457 | - | 5,457 | - | |
| ─────── | ─────── | ─────── | ─────── | ─────── | ||
| 524,633 | 5,457 | - | 530,090 | 364,602 | ||
| ═══════ | ═══════ | ═══════ | ═══════ | ═══════ |
9
Northern Ireland Netball
(A company limited by guarantee, not having a share capital) NOTES TO THE ABRIDGED FINANCIAL STATEMENTS
continued
for the financial year ended 31 March 2023
| 4.2 | OTHER EXPENDITURE | Direct | Other | Support | 2023 | 2022 |
|---|---|---|---|---|---|---|
| Costs | Costs | Costs | ||||
| £ | £ | £ | £ | £ | ||
| Bank Fees | - | 3,766 | - | 3,766 | 787 | |
| Stationary & Postage | - | 1,098 | - | 1,098 | 586 | |
| Legal & Professional Fees | - | - | 3,054 | 3,054 | 3,003 | |
| Rent/ mobiles | - | 11,374 | - | 11,374 | 7,255 | |
| Staff Costs | - | 126 | - | 126 | - | |
| Gala Dinner | - | 1,000 | - | 1,000 | - | |
| Software & Other Resources | - | 4,321 | - | 4,321 | 8,566 | |
| Advertising & Promotion | - | 345 | - | 345 | 395 | |
| Depreciation | - | 10,732 | - | 10,732 | 10,732 | |
| ─────── | ─────── | ─────── | ─────── | ─────── | ||
| 5,457 | 27,305 | 3,054 | 35,816 | 31,324 | ||
| ═══════ | ═══════ | ═══════ | ═══════ | ═══════ | ||
| 5. | ANALYSIS OF SUPPORT COSTS | |||||
| 2023 | 2022 | |||||
| £ | £ | |||||
| Support | 3,054 | - | ||||
| ═══════ | ═══════ | |||||
| 6. | TANGIBLE FIXED ASSETS | |||||
| Plant and | Fixtures, | Total | ||||
| machinery | fittings and | |||||
| equipment | ||||||
| £ | £ | £ | ||||
| Cost | ||||||
| At 31 March 2023 | 2,962 | 52,693 | 55,655 | |||
| ─────── | ─────── | ─────── | ||||
| Depreciation | ||||||
| At 1 April 2022 | 2,962 | 41,961 | 44,923 | |||
| Charge for the financial year | - | 10,732 | 10,732 | |||
| ─────── | ─────── | ─────── | ||||
| At 31 March 2023 | 2,962 | 52,693 | 55,655 | |||
| ─────── | ─────── | ─────── | ||||
| Net book value | ||||||
| At 31 March 2023 | - | - | - | |||
| ═══════ | ═══════ | ═══════ | ||||
| At 31 March 2022 | - | 10,732 | 10,732 | |||
| ═══════ | ═══════ | ═══════ | ||||
| 7. | FUNDS | |||||
| 7.1 | ANALYSIS OF NET ASSETS BY FUND | |||||
| Current | Current | Total | ||||
| assets | liabilities | |||||
| £ | £ | £ | ||||
| Restricted trust funds | 212,537 | (74,224) | 138,313 | |||
| ─────── | ─────── | ─────── | ||||
| 212,537 | (74,224) | 138,313 | ||||
| ═══════ | ═══════ | ═══════ |
10
continued
Northern Ireland Netball (A company limited by guarantee, not having a share capital) NOTES TO THE ABRIDGED FINANCIAL STATEMENTS
for the financial year ended 31 March 2023
8. STATUS
The charity is a company limited by guarantee not having a share capital.
The liability of the members is limited.
Every member of the company undertakes to contribute to the assets of the company in the event of its being wound up while they are members, or within one financial year thereafter, for the payment of the debts and liabilities of the company contracted before they ceased to be members, and the costs, charges and expenses of winding up, and for the adjustment of the rights of the contributors among themselves, such amount as may be required, not exceeding £ 1.
11