SMART (NI) STATEMENT OF FINANCIAL ACTIVITIES for th8 financial year ended 30 November 2024 Unrestricted Funds 2024 Total UnrestllGted Funds Funds 2024 2023 Totsl Funds 2023 Notes Income Donations and legacies Charitable activities Christmas Raffle Ticket Sales 2,889 2.889 1.355 1,355 1,579 1,579 Total Incomg 4.244 4,244 1,579 1,579 Expgndltur• Charitable activities 4.268 4,268 2,625 2,625 Not In¢omellexpandlturo1 1241 124) (1,0461 11,0461 Transfers between funds Net movoment In funds for the flnanclal year {24} {241 11,0461 {1,0461 Reconclllatlon of fund3: Total funds beginning of the year 8,778 8,778 Total fund¥ at thé end of the year 8,754 8.754 11,0461 11,(1461 The Statement of Financial Acllvllies Includes all 98ins •nd108888 recognised in the financial year. All Sn¢ome and expendlture relate to continuing a¢tlvhl88. The notes on pages 910 12 forrn part of the financial statgments
SMART (NI) BALANCE SHEET as at 30 November 2024 2024 2023 Notes Current Assets Cash at bank and in hand 8,754 8,778 Net Current Ass•ts 8,754 8,778 Total Assots108s CUnt Llabilities 8,754 8,778 Funds General fund lunrestricted} 8,754 8,778 Total fund8 8,754 8,778 The financial stat8ments have been prepared in accordance with the provisions applicable to companies subject to the small companies, regime and in accordancè 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 Tru8tOO8 and authorl8ed for188ue on 7 November 2025 and 8lgned on Its behalf by Pattle McElroy Trustee Ichello MGClean Trustea Tho notes on pages 9 10 12 form part of ihe finanrAal ststemenls
SMART (NI) NOTES TO THE FINANCIAL STATEMENTS lor the financial year ended 30 November 2024 GENERAL INFORMATION SMART INI) is a charlty Incorporated In Northern Ireland. The registered Offi of the charlty 18 93A Drumgootand Road, Ballyward, Casllewellan. Co. Down. BT31 9QX which is also the principal place of business of the charity. The financial slalements have been presanted in Pound {£) which is also the funclional currency of the charity. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The following accounting policies have been applied consistently In dealing with items whlch are cOnsided material in relation lo the charity's financial statements. Basls of preparatlon The financial stal8ments hava been prepared on tha golng concern basis under the historical cost ¢onv8ntion. modified to include certain items ai fair value. The financial slatémenls have been prepared in accordance wblh the Statement of Recommended Practice ISORPI "Accountlng and Reporting by Charities preparing their accounts in accordance wllh the Financial Reporting Standard applicable in the UK and Republic of Ireland FRS 102" applying Section 1A of that Standard. As permittsd by the Companle8 Act 2006, th8 charfty has varled the Standard formats in that act for Ihg Statement of Financial Aclivi118s and the Balance Sheet. Departures from the slondard formats are lo comply with the requirements of the Charities SORP and are in compliance with seGlion 4.7, 10.6 and 15.2 of that SORP. Statement of compllan¢o The financial ststements of the ch8rlty for the flnanc181 year ended 31 D8cember 2017 have been prep8r6d on the going concem basi8 and in accordanc8 Wlth the Statement of Recommended Practice ISORPI "Accounting and Reporting by Charities preparing their aGcounts In accordance with the Flnancial Roportlng Stsndard appliGable in the UK and Republic of Ireland FRS 102 applying S¢¢tlon 1A of that Standard. Fund accountlng The followlng are the cal8gorl88 of funds maSntalned: Restrlcted fund$ Reslrlcled funds rePSent Income recglved whl¢h can only be u8ed for particular purposes. as spe¢lfled by the donors. Such purpos8s are wlthln tho overall objectives of the charlty. Unr•strlctsd fund¥ Unrestricted funds consist of General and Designated funds. General funds represent amounts which are expendable al the discrellon of the board, in furtherance of the objectives of the charity. Designated funds comprise unrestricted funds that the board has, at its di8cretlon, sel aside for particular Purposes. These designallons havo an 8dmlDlslrativo purpose only, and do not legally reslrtGt the board's discrelion lo apply the fund. Income Income Is recognlsed by inclusion the Statement of Financiol A¢tivilie8 only when the charity 15 legally enlllled to the Income, performance condltlons attached lo the iternls} of inGome have been mel, the amounts involved can be measured with surficienl reliability 8nd it is probable that the income will be received by the charity. Income from charltable actlvltleg Income from charitabl& activities include income e8med from the suppty of services under contractual arrangements and from performance related grants whith have condltions that specrfy the provlslon of particular services to b8 provided by the charity. Income from government and other co-funders is recognised when the charity is legally entitled lo the income because it 15 fulfilling the nditionS contained in the related funding agreements. Where a grant is received in advance, Ils recognition is deferred and included in creditors. Where entitlement occurs before income Is recelved. il is accrued ir¢ debtors. Grants from governments and other co-funders typically inGlude one of the following types of conditions.. Performance based conditions." v¥hereby the charity is contractually entitled lo funding only to the extent that the core objectives of the grant agreement are achieved. Where the charity is meeting the core objectives of granl agreement. il recDgni5e5 the related expenditure. lo the exlenl that il is reimbursable by the donor, as
continued SMART (NI) NOTES TO THE FINANCIAL STATEMENTS for the financial year ended 3D November 2024 income. -Time based conditions.. whereby the charity is conlraclually entitled to funding on the condition that it IS ulilised a particular period. In th8se cases the charity reGognises th8 Income to the extsnt it is utllised 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 Gharity is notlfied of entitlement. Grants received towards capital axp8nditur8 are credited to the Ststement of Financial Activities when received or receivable. whichever Is 88rller. Expondlturo Expenditure 15 analysed between costs of charitable activities and raising fund5. The costs of each activity are separately accumulal8d and disclosed, and analysed according lo their m8jor Gomponenls. Expenditure 18 recognis8d when a logal or constructiv8 obllgatlon exists as a result of a pa316v8nl, 8 transfer of 6conomlc bengfits is required in 3ettlemenl and the amount of the obligation can be reliabty measurod. Support Costs are those functions that assist Ihg work of the charity bul cannot be attribulgd to one aclivily. Such costs ar8 allocated to acllvllies In proportlon lo staff tlme spent or other sultabl8 measure for each actlvlty- Cash at bank and In hand Cash al bank and in hand comprises cash on deposit at bank8 requiring less than three months notice of withdrawal. Taxatlon and deferred taxatlon No Gurrent or deferred laxalion aris8s as Ihe ¢hadty has been granted Gharblable exemptlon, IrreGoverable valued added tax is expensed as incurred. Deferred tax Is recognlsed In r8sp8Ct of all Ilmlng dlfferences that have orlglnaled but not reversed at the balance 8heet date where Irans8clions or evants have occurred at that dale that will re5uII in an obligation lo pay mre tax in the future, or a right lo pay18ss tax in thg future. Timlng differences are temporary differences bo8n tho Qharity's tsxablg pr¢fils and 11$ r8sulls as staled in the financial stst6ment8. Deferred tax ig measured on an undiscounted basis at the tsx rates that aro afiti¢ipal8d to apply in the periods In which the timing differences are expected lo roverso, based on lax rates and laws that have been enacted or 5ubslanlively enacted by th8 balance sheet dale. INCOME DONATIONS AND LEGACIES UnrgStrl¢tod Restrlctod Funds Funds 2024 2023 The National Lottery Grant 2,889 2,889 CHARITABLE ACTIVITIES Unro$trlcted RestrlGt8d Funds Funds 2024 2023 Christmas Raffle Tl¢kel Sales 1.355 1,355 1,579 EXPENDITURE CHARITABLE ACTIVITIES Dlrect Costs othgr Costs Support Costs 2024 2023 Fundraising & Events Expenditure Rent. Rates & Insurance Bank Charges General Expenses Counselling & Training Costs 4.125 4,125 100 43 1,000 375 40 18 1,192 100 43 4.125 loo 4,268 2,625 10
continued SMART {NI) NOTES TO THE FINANCIAL STATEMENTS lor the financial year ended 30 November 2024 SUPPORT COSTS Charitable Activities 2024 2023 General Expense5 Land Charge Insurance 18 100 275 100 100 100 100 393 ANALYSIS OF SUPPORT COST8 2024 2023 General Exp8nses Land Charge Insurance 18 100 275 100 100 393 NEf INCOME 2024 2023 Nel Incomo 1$ stated after charglngllcredltlngl: Grants receivable received (2,8891 INVESTMENT AND OTHER INCOME 2024 2a23 Revenue grants re¢elved 2,889 RESERVES 2024 2023 At the beginning of th6 year Deficit for the financlal year Other movements 8.778 (241 {1,0461 9,824 At the end of the year 8,754 8,778 FUNDS RECONCILIATION OF MOVEMENT IN FUNDS Unrestrictsd Funds Total Funds Al 1 December 2022 Movement during the financial year 8.778 8,778 AI 30 November 2023 Movement during the financial year 8,778 1241 8,778 1241 AI 30 November 2024 8,754 8.754 11
conts'nued SMART (NI) NOTES TO THE FINANCIAL STATEMENTS for the financial year ended 30 November 2024 ANALYSIS OF MOVEMENTS ON FUNDS BalanGe 1 December 2023 Income Expendltuio Transfers BalanGe betwegn 30 November funds 2024 Unrestrictsd funds Unrestrfcled General 8,778 4.244 4,268 8.754 Total funds 8,778 4,244 4.268 8,754 ANALYSIS OF NET ASSETS BY FUND Curront assets Total Unreslricled general fijnds 8,754 8,754 8,754 9,754 10. POST-BALANCE SHEET EVENTS There have bgen no significant events affecting Ihe Charity sinGe the financS81 year-end. 12