Cbarity registiztion numb¢r'. 107347 Fitmoms & Kids known ag Fitmon Annual Report and Financial Statements for the Year Ended 31 March 2024 Fitmoms & Kids known as Fitmoms Contents (continued) Reference and Administrative Details Trustees, Report 2to4 ststement of Trustees, Responsibilitie5 Independent Examiner's Report Statsment of Financial Activities Balance Sheet Notes to the Financial Statements 9t018 Fitmoms & Kids known as FitMoLns Reference and Administrative Details Chairman Miss Leanne Evans Trustees Miss Lesley Dowey MASS Leanne Evans Mrs Zena Reid Miss Julie Preston Charlty RegistrAtioll Nurnber 107347 Prillcipal Office 3 Portland A venue Glengormley Newtownabbey Co Antrim BT36 SEY Independent Examiner Tony Mc Clements Independent Examiner J A Mc Clements & Co Unit25b BallymenA Business Centre 62 Fenaghy Road Galgonn Ballymena Co Antrim BT42 1 FL Page I Fitmoms & Kids known as Fitmoms Trustees, Report The trustees present the annual report together with the financial statements of the ¢haTity for the yeaT ended 31 March 2024. Objectives alld aetlvities Objects and ftlrns Provision of fitness Classes, Gym facalities, recreational activities, children's safe pla>Toom, support groups and other means as considered appropriate to the needs of service users. provLSion of PTogratJmes and activities designed to promots their self-esteenL Th¢ airn of the charity is to promote the physical and emotional wellbeing of women and in particular, but not exclusiv¢ly , mothers and carers of children of autism or other relayed communication and behaviou￿1 disorders and women who fe¢1 socially isolated in the Newtownabbey area of Belfast and the Su￿ounding districtcthe area of b¢neFID through the provision of fitn¢ss classes, gym facilities, recreation¥LI activities, children's safe playroom, support groups and by any other means as the Trustees shall consider appropriate. lo promote the physicg41 and emotional healt of children and young people and in particular, but not exclusively . those with aLltisin and other related communication and behavioural disorders or obesity through the provision of programmes and activities designed to pron]ote self-esteem, Publlc beue The organisation is attempting to bring groups of socially isolated womentogether, reducintyren]oving social isolation, improving self-este¢m and feelings of self worth, reducing incidence of loneliness, improving mental health. it IS 5UPPOrting fajnilies with children with special needs such as autism and other comples needs. Fit moms & Kids existed since 2014, initially as a voluntary group, becomlng a business in 2015. the orgaiiisatton has grown exponentially since, and has to date helped hundreds of sociully disadvantaged wotnen and Families" many of these have written testimonials, encouraged others to join in and participate, further increasing the reach of the organisation, The organisation continues to grow, and is now looking for larger preniises, developing a mE￿agem¢llt tsam, instigating new projects and partnerships with third paty agencies, as well as increasing membership and volunteer opportunities. Ni)ne has been identified. the organisation exists to alliviate rislc of hartn both physically and mentally. Any memb¢r of the public , who may approach the organisation. Basis of need is assessed by informal per30n&l interview to deterinine health status, actual need, and that petsonal issue5 genuinely exist rather than seeking a heap gyrn option. There is no private ben¢fit to any member , trustee or other individual. The trustees confirm thal they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public bellefit guidance published by the Charity Commission for England and Wal¢s. Structure? govenian¢e and management 2Voturg ol&poverAiAg doeuntent Constitution Page 2 Fitmoms & Kids known a5 Fitmoms Trustees, Report (continued) Financial instruments Objecllves qnrfpollel*s The charity's activities expose it to & number of financial risks including ¢Tedit risk, cash flow risk and liqiiidity rislc. The use of financial derivatives is governed by the charity's policies approved by the b0￿d of trust¢¢s, which provide written principles on the use of fillancial derivatives to manage these rislis. The charity does not use derivative financial instrliments for speculative purposes, Casli fvw rtsk The charity's activities expose it primaTily to the f￿anCIal risks of changes in foreign currency exchange rates and interest rdtes. The charity use5 foreign exchange fonvard conlracts and interest rate swap contracts to h¢dg¢ these exposures. Interest bearing assets and liabilities are held at fixed rate to ensure cert&inty of cash flows. Credlt rlsk The charity's principal financial assets are bank balances and casb, trade and other receivables, &lld investsnents. The charity's credit risk is priinarily attributable to its trade receivables, The amounts pres¢nted in the b&lan¢e sheet are net of allowances for doubtful receivables. An allowance for impairn)ent is n]ade where there is an identified loss event which, based on previous experience, is evidence of a reduction in the recoverabllity of the cash flows. The credit rislc on liquid funds and derivative fmancial instrument8 is limited because the countfflparties al'e banks with high CTedit-rating5 assigiied by international Credit-rating agencies, The charity has no significant concentration of credit risk, with exposure spread over a large number of counterparties and custome￿. Llquldlty rlsk In order to inait]tain liquidity to ensiire that sufficient funds are avail&ble foi. ongoing operntions and ￿tUre developments, the charity uses a inixture of long-tenn and short-terni debt finance. Further details regarding liquidity risk can b¢ found in the Statement of accounting poli¢i¢s in the fmmcial statements. The annual report approved by the trustees of the charity on 20 May 2025 and signed oil its behalf by: Miss Lesley Dowey Trustse Miss Leanne Evans Chairman and trustee Page 3 Fitmoms & Kids known as Fitmoms Trustees, Report (continlled) Mrs Zena Reid Trustee Miss Julie Preston TrLlStee Pt)ge 4 Fitmoms & I/¢ Straight Lne Cash and eash equivalenls Cash &nd eqiiivalents ¢ompi'TSe cash on hand and ￿11 dep06its, and other 5hort-terni highly IIqLiid investments that are r¢adily convertible to a known amount of ￿8b and are subject to an insignificant risk of change in valu¢, Page 10 Fitmoms & Kids known Fitmoms Notes to the Financial Statements for the Year Ended 31 Mareh 2024 (continued) Borrowings Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Inlerest-bearing borrowiiigs are subsequently carried at amortis¢d cost, with the differen¢e between the proceeds, net of transactioii costs, and the amount due on redemption being recogllised as a charge to the State￿ent of Financial Activities over the period of the relevant borrowing. Interest expense is recognised on the basis of the effective int¢rest method and is included in interest payable and similar charges. Borrowings are classified as current liabilities unles8 the charity has an unconditional right to defer settlement of the liability for at least twelve vnonths after the reporting dat¢. Fund structure Unrestricted income fund8 are general funds that are available for use at the trustees discretion ill fLlltherance of the objectives of the charity. Financlal ljjslruments Clas.giflcllliDn Financial assets and fmancial liabilities are recognised when the charity become8 a party to the contractual provisions of the instrument. Financial liabilities and equity instrumettts are classified according to the subst￿l¢e of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the charity after deducting all of its liabilities. Recognlllon ond pneagurement All financial assets and liabilities are initially tneasuTed at transaction price (including transaction costs), except for those fin<1ncial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excludit]g transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitlltes a fmancing transaction, the financi¥dl asset or fmancial liability is measured at the present value of the futLwe payments discounted at a rnarlcet rdt¢ of interest for a simllar debt instrument. Financial assets and tiabilities are only offset in the statement of financial position when, and only when there exists a legally enforceable right to set off the recognised amounts and the charity intend5 eith¢r to settle on a net basis, or to realise tlie asset and gettle the liabi lity sitnultaneously. Fint￿ClaI assets are derecogttised when and onty when a) the contractual l'ights to the cash flows from the finlllicial asset expire or are settled, b) the charity transfers to another party substantially all of the risks and rewards of ownership of th¢ financial asset, or c) the charity. despite having retained some, but not all, significallt risla at]d rewards of ownership> has transferred control of the &sset lo ¬her paty. rinanci&l li&bllities are derecognised only when the obligation specified in the contract is discharge(L cancelled or expii-es. Page 11 Fitmoms & KÉds known as Fitmoms Notes to the Financial Statement5 for the Year Ended 31 March 2024 (continued) Debt Inslruments Debt instruments wbich meet the following conditions are subsequ¢ntly measured at amortised cost using the effective interest method: (a) The contractual return to the holder is (i) a fix￿ amount. (li) a positive fixed rate oi. a positive variable rate; or (iii) a cotnbinatioll of a positive or a negative fixed rate and a positive variable rale. (b) The contract may provide for repayments of the principal or the return to the holder (but not both) to be linked to a single relevant observable index of g¢neral pric¢ I]￿atiOn of the cui'rency in wbich the debt instrument is denomlnated, provided such links are not leveraged. (c) The contract tnay provide for a determinable variation of the return to the holder during the life of the instrument, provided that (i) the new rdte satisfies condition (a) and the variation is not coiitingent on future events other tban (l) a change of a colltszctual vgJiable rate. (2) to protect the holder ag&inst Qredit detsrioration of the issuer. (3) changes in levies applied by a central bank or arising from changes in relevant taxation or law. or (li) the new rate is a market rate of interest and satisfles condition (a). (d) There is no contractiial provision that coul(L by its tsrms, result ID the holder losing the principal amount or any interest attributable to the current period or prior periods. (e) Contra¢tual provisions that pertnit the issuer to prepay a debt nlstrument or pertnit the holder to put it back to the issuer before maturity are not conting¢nt on future events, other than to PTOtect the holder againgt the credit deterio￿tIon of the issuer or a change in control of the issuer, or to protect the holder or issuer against changes in levies applied by a central bank or arising from changes fft relevant taxatioii or law. (fj Contracthal provisiorAS may perniit the extension of the tern of the debt instrumeiiL provided that the return to the hoAder iThd any other contractual provisions applicable during the extended term s&tisfy the W[￿ltionS of paragraphs (a) to (¢). Debt insiTun￿nts that are cla85ified as payable or receivable within one ye¥dr on initial recognition and which meet the above conditions are measured at the undiscounted amount of the cash oi. other conSLderdtion expected to be paid or received, net of irnpairment. With the exception of some hedging instruments, other debt instruments not meei'ing tbese Conditions are measured at fair valiie tlwough profit or loss. Commitments to make and receive loans which tneet the conditions mention¢d above are measui'ed at cost (which nmy be nil) less iinpairinent, Inveslmenls Investments in nonryconvertible preference shares and non-puttable ordinary or preference shares (where shares are publicly traded or their fair value is reliably measurable) are measured at fair value through profit or loss. Where fair Vall￿ cannot be measured reliably, investments are ll￿aSured at cosl less impairment. Investments in subsidiv£ ies and associates ar¢ nLeasured at cost less impainnent. For investments in subsidiaries acquired for consideration including the issue of shares qualifying for merger relief, cost is measured by reference to ihe nominal value of the shares issued plus fair value of ottLeT CQt]sideralion. Any premkum is ignored. Page 12 Fitmoms & Kids knoivn Fitmoms Notes to the Financial Statements for the Year nded 31 March 2024 (continued) Derivalivefinqnclal Inslrnmenls The Gbarity uses derivative f￿ancIAl instruments to redu¢¢ exposure to foreign exchange risl< and interest rate movem¢nts. The charity does not hold or issue derivative financial instruments for speculative puryoses. Derivatives are initially recognised at fair value at the date a derivative contract is entered into and are subsequently remeasured to their fair value ai each reporting date. The resulting gain or loss is recognised in statemenÉ of financial activitieg immediately unless the derivative is desigllated and effective as a hedging instrument, in which event the tirning of the recognition in statement of firlancial activitieg depends on the natur¢ of the hedge relationship. Foir vnlue me¢L5uremenl The best evidence of fair value is a quoted price for an identical asset in an active market. When quoted prices are unavailable, the price of a recent transactioii for an identical asset provides evidence of fair value as long as there has tM)t been a significant change in economic circumstances OT a significant lapse of time since the transaction took place. If the market is not active and recent trdnsactions of an identical asset on their own are not a go