CHARITY REGISTRATION NUMBER: lo7380 Cathedral Youth Club Unaudited Financial Statements 31 March 2023 KEITH MCE Chartered accountants 42A Clooney Terrace Waterside Londonderry BT47 6AP
Cathedral Youth Club Financial Ststements Year ended 31 March 2023 Page Trustees, annual report Independent examiner's report to the trustees Statement of financial activities Statement of financial position Notes to the financial statements The following pages do not form part of the financial ststements Detailed statement of financial activities 17 Notes to the detailed statement of financial activities 19
Cathedral Youth Club Trustees, Annual Report Year ended 31 March 2023 The trustees present their report and the unaudited financial statements of the charity for the year ended 31 March 2023. Reference and admlnlstratlve detalls Reglstered charlty name Cathedral YoLrth Club Charlty regisiraiion number 107380-0 Prlnclpal offlce 96-98 The Fountain The Fountain Estate Londondery BT48 6QL The trnsiees Mr Victor Wray Mr Raymond Walker Mr William McBride Mr lan Bartiett Independent examlner Keith McElhinney 42A Clooney Terrace Waterside Londonderry BT47 6AP Struclureg governance and management The Charty is govemed by its Constitution dated 18 April 2018. The Charity is managed by an Executive Committee which consists of all the appointed trustees. and the seleclion of any new Twstees is deall with by that Gommittee. Objeclives and activilies The Club is established to promote the benefit of young people in the Fountain area of Londonderry and surrounding areas in Londonderry, and to educate and assist such young pèople through their leisure time activilies so as to develop their physical. mental and emotional capacities so that they may grow to full maturity as indiwduals and members of society and so that their condf(ions of life may be improved, and in patticular to: al prowde facilities, in the interests of social welfare. for education, recrealion or other leisure-time occupation, with the object of improving the conditions of life for the said young people. b) Promote capacty-building among young people from the area of benefit who are disadvantaged as a result of their social or economic circumstances in an effort to encourage them to develop confidence, self-esteem, arKI leadership skills arKI encouraging a sense of social responsibility.
Cathedral Youth Club Trustees. Annual Report (continuod) Year ended 31 March 2023 Achievements and perforniance Cathedral Youth Club offers activities and programmes to a wide range of young people and adults not just living in the Fountain 2r82 but right acrosg the cty. The oxtongion and roturbighmont of our contra has had a huge impact on all users, allowing us to extend our programmes lo suit the needs of all age groups. As we celebrate fifty-one years of Servi to the community. Cathedral Youth Club has continued to set a high standard and an Open-Door policy to all regardless of colour or creed. We We continue lo secure funding from a wide range of funding organisations which alloy us to provide a wide range of programmes and projects. We are proud of our achievements and have fully trained staff and volunteers working in our club. Our name is synonymous throughout the cty and beyond. We look forward to another suc£essful year. Financlal revlew The Charity had a net surplus for the year to 31 March 2023 of £1.711 {2022: deficit £792), and at 31 March 2023 had net assets of £47,51312022: £45,802) The trustees. annual report was approved on 7 November 2023 and sign&J on behalf of the board of trustees by: Mr Raymond Walker Trustee
Cathedral Youth Club Independent Examinefs Report to the Trustees of Cathedral Youth Club Year ended 31 March 2023 I rewrt to the trustees on my examination of the financial statemerrts of Cathedral Youth Club {'the charity) for the year ended 31 March 2023. Rosponsibililies and bas18 of reporl As the trustees of the charity you are responsible for the preparation of the financial stalements in accordance with the requirements of the Charities Act (Northern Ireland) 2008 (the .2008 Act'l. You are satisfied that your charity is not required by charty law to be audited and have chosen instead to have an independent examination. I reFM)rt in respect of my examination of the chari5 financial slatements as carried out under section 65 of the 2008 Act. In carryng out my examination I have followed the general Directions given by the Charty Commission for Northem IrelarKI under section 65(9)(b) of the 2008 Act. Independenl examinerfs slalement I have compleled my examination. I confinn that no matters have come to my att8ntion in connection with my examination giving me cause to believe that in any material respect: accounting records were not kept as required by wtih section 63 of the 2008 Act. or the financial statements do not accord with those records. or the financial statements do Th)t comply with the accounting requirements of the 2008 Act; or the financial statements do not comply wth the applicable requirements concerning the fomi and content of accounts set OLrt in the Gharities (Accounts and Reports) Regulations 2008 olher than any requirement that the accounts give a Irue and fairf Mew which is not a matter considered as part of an independent examination. I confimi that Ihere are no other matters to which your attention should be drawn to enable a prop8r understanding of Ihe accounts to be reached. Keith McElhinney Independent Examiner 42A Clooney Terrace Waterside Londonderry BT47 6AP 7 Novembar 2023
Cathedral Youth Club Statement of Flnanclal Actlvlties Year ended 31 March 2023 2023 Restricted funds Tolal funds Total funds 2022 Unreslricted funds Not• Income and endowments Donations and legacies Charitable activities Olher trading activities Total Income 56.338 1.135 6,984 64,457 156.853 213.191 1,135 6,984 221,310 177.285 167 6,427 183,879 156,853 Expendlture Expenditure on raising funds: Costs of other trading activities Expenditure on charitable activities Total expenditure 3,910 57,065 60.975 3,910 215,689 219.599 4.487 180.184 184.671 158,625 158,625 Net Incomel(expenditure) and n movemenl In funds 3,482 (1.772) 1,711 (7921 Reconcilialion of funds Total funds brought forward Total fund8 carrled forward 45.484 48.966 318 45,802 47,512 46.594 45,803 {1,454) The statemenl ol financial activities includes all gans and losses recognised in the year. All income and expenditure derive from continuing activtties. The notes on pages 6 10 15 tomi part of these flnanclal statements.
Cathedral Youth Club Statement of Financlal Position 31 March 2023 2022 Flxed assets Tangible fixed asgets 14 701,057 704.673 Current assels Stocks Debtors Cash at bank arKI in hand 125 17,613 96,075 250 31,972 14.511 15 113,813 46.733 Crediiors: amounts falllng due whhin one year Net current assets 16 82.616 31.197 20.242 26,491 Toial assets less currert liabililies 732,254 731,164 Credltors: amoun18 falllng due after more Ihan one year Net assets 17 684.741 685.362 47,513 45,802 Funds of the charity Restricted funds Unrestricted funds {1,4541 48,966 47,512 318 45,485 45,803 Total charity furKIs 21 These financial statements were approved by the board ol trustees and authorised for issue on 7 November 2023, and are signed on behatf of the tM)ard by: Mr Raymond Walker Trustee The noles on pages 6 to 15 forrn part ot Ihese flnanclal ststements.
Cathedral Youth Club Notes to the Financlal Ststements Year ended 31 March 2023 General informaiion The charity is a public benefrt entity and a registered charrty in Northern Ireland and is unincorwrated. The address of the principal office is 96-98 The Founlain, The Fountain Estate. Londonderry, BT48 6QL. Slatement of compllance These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland,, the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic ol Irdand (FRS 102) (Charities SORP IFRS 102)) and the Charities Act (North8m Ireland) 2008. Accouniing policles Basls of preparation The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets arKI liabilities and investment properties measured at fair value through income or expenditure. The financial statements are prepared in sterting. which is the functional currency of the entity. Golng concern There are no material uncertainlies about the charitys abilty to continue. Judgements and key sources of estlmatlon uncertalnty The preparation of the finanaal statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These eslimales and judgements are continually reviewed and are based on experience and other factors. including expectations of future events that are believed to be reasonable under the circumstances. Fund accounllng Unrestricted funds are availabEe for use at the discretion of the trustees to further any of the charitls pu)ses. Designated funds are unrestricted funds earmarked by the Irustees for particular future project or commitment. Restricted funds are subjeaed to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.
Cathedral Youth Club Notes to the Financial Statements (Continu1) Year ended 31 March 2023 Accounllng pollcies (contlnwd) Incomlng resources All incoming resources are induded in the statement of finala1 activities when entitlement has passed to the charity. it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied10 particular categories of income: income from donalions or grants is recognised when there is evidence of entitlement to the gift. receipt is probable and its amount can be measured reliably. legacy income is recognised when receipt is probable and entttlement is established. income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliatAy, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers. income trom contracts for the suppty of services is recognised with the delivery of the contracted service. This is classrfied as unrestricted funds unless there is a contractual requirement lor it to be spent on a particular purpose and retumed if unspent, in which case it may be regarded as restricted. Resources expended Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered. and is classified under headings of the slatement of financial activities to which it relates: expenditure on raising funds includes the costs of all fundraising activities, events, non- charitable trading activities. and the sale of donated goods. expenditure on charitable actiwties includes all costs incurred by a charity in undertaking activities that further its charitable aims lor the benefit of its beneficiaries, including those support cosis and costs relating to the governance of the charty apportioned to charttable activities. other expenditure includes all expenditure that is neither relatgj to raising funds for the charity nor part of its expendfÉure on charitable activities. All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activtty are allocated directly to that activity. Shared costs are apportioned between the actitIeS they contribute to on a reasonable, justrfiable and consistent basis. Tanglble assets Tangible assets are initially recorded at cost, and subsequently stated at C05t less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revalualion less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Cathedral Youth Club Notes to the Flnancial Statements (conllnuad) Year ended 31 March 2023 Accountlng pollcles (conllnu6d) Tangible assels (convnuod) An increase in the carrying amounl of an asset as a resuh of a revaluation, is recognised in other recognised gains and losses. unless it reverses a charge for impairment that has previously been recognised as expenditure Wthin the statement of financial activities. A decrease in the carrying amount of an asset as a result of revduation, is recognised in other recognised gains and losses, except to which it offsets any previous revaluation gain. in whh case the loss is shown within olher recognised gains and losses on the statement of financial activities. Depreclatlon Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows- Freehold propety Fixtures and fittings /• Straighl line 1 Oyo Straight line Impairnient of flx•d assols A review for indicators ol impairment is carri&J out at each reporting date. with the recovgrable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purFX)ses of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash- generating unit to which the asset belongs. The ¢ash-generating unit is the smallest identifial8 group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodvill. the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the charty are assigned to those units. Slocks Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase. costs of conversion and other costs incurred in bringing the stock to its present location and condition. Govemment grants Government grants are recognised at the fair value of the assel received or receivable. Grants are not recognised until there is reasonable assurance that the charity will comply with the conditions attaching to them and the grants will be received.
Cathedral Youth Club Notes to the Flnancial Ststements (continued) Year ended 31 March 2023 Accountlng policies (Con11nd) Govemment grants (Mnllnued) Where the grant does nol IMse specified fulure performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specrfied future performance-related conditions on the recipient. it is recognised in income only when the performance-related conditions have been met. Wh&re grants received are prior to satisty'ng the revenue recognition crtleria, they are recognised as a liability. Flnanclal Instruments A financial asset or a financial liability is recognised only when the charity becomes a paty to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the amount recewable or payable including any relaled Iransaction costs. Current assets and current liabilities are subsequently measured at the cash or other consideration expacted to be paid or received and not discounted. Debt instruments are subsequentty measured at amorknsed cost. Where investments in shares are publicly traded or their fair value can otheThvise be measured reliably, the investment is subsequently measured at fair value wth changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impairment. Other financial inslruments, including derivatives. are inttiatly rewJnised at fair value, unless payment for an asset is deferred beyond normal busin8SS terms or financed at a rate of interest that is not a market rate. in which case the asset is measured at the presenl value of the future payments discounted at a market rate of interest lor a similar debt instrumenl. Other financial instruments are subsequently measured al fair value, with any changes recognised in the stalement of financAal activities. wtth the exception of hedging instruments in a designated hedgiThJ relationship. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the erKI of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial g&n was renIsed. For all equity inslruments regardless of signrficance. and other financial assets that are individually significant, these are assessed individually for imwrment. Other financial assets are either &eSsed individually or grouped on the basis of similar credit risk characteristics. Any reversals ol impaimient are recognised immediately, to the extent that the reversal does not result in a carrwng amount of the financial asset that exceeds what the carrying amount would have been had the impaimient not previously been recognised.
Cathedral Youth Club Notes to the Financial Statements (contlnuo11) Year ended 31 March 2023 Accountlng pollcies (conllnu6d) Deflned contribution plan$ Contributions to defined contribution plans are recognised as an expense in the pericml in which the related service is provided. Prepaid contribulions are recognised as an asset to the extent that the prepanent will tead to a reduction in future payments or a cash refund. When contributions are not eXpted to be settled wholty within 12 months of the end of the reporting date in which the employees render the relaled servi, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as an expense in the period in which it arises. Donatlons and legacles Unrestricted Funds Restricted Total Funds Funds 20Z3 Donatlons Donations 3.200 Granis Dept. for Communities Derry City & strabane Dist Council Education Aulhority Big Lottery Greystone Foundation PSNI Ulster Garden Villages Dept. of Foreign Affairs Awards for All Gartield Weston The Executive offi l Urban Village Tampon Tax Fund Sundry Grants Government grant irDMe 42,018 14,583 7,686 24,446 42.018 14.583 10.286 24.446 39,538 5CKi 5.000 13,457 4.950 11,000 (1,958) 16.19J 13,794 16,187 39.538 500 5.000 13,457 4,950 11.000 (1,958) 16.190 13,794 16,187 Subscriptions Subscriptions 56.338 156.853 213,191 Unrestricted Funds Restricted Total Funds Funds 2022 Donalions Donations 1,180 1,180 10
Cathedral Youth Club Notes to the Financial Ststements Icontlnuod) Year ended 31 March 2023 Donations and legacles (contin1) Unrestricted Fundg Restricted Total Funds Funds 2022 Grants Dept. for Communities Derry City & Slrabane Dist Council Education Authority Big Lottery Greystone Foundation PSNI Ulster Garden Villages Dept. of Foreign Affai Awards for All Garfield Weston The Executive Office l Urban Village Tampon Tax Fund Sundry Grarrts Government grant income 38,584 18,949 19,231 21.010 {1.7051 38.584 18.949 19.231 21,010 27.811 1,500 29,517 1,$00 7,558 (115) 17,559 17.559 8,096 15,419 8.096 15,419 Subscriptions Subscriptions 503 503 40,258 137,028 177,285 Charltsble actlvities Unrestricted Total Funds Unrestricted Total Funds Funds 2023 Funds 2022 Room hire 1,135 1,135 167 167 Other tradlng activilies Unrestricted Total Funds Unrestricted Total Funds Funds 2023 Funds 2022 Fundraising events Gafe income 370 6,057 370 6,057 6,984 6,984 6,984 6.427 6,427 Costs of other Iradlng activilies Unrestricted Total Funds Unrestricted Total Funds Funds 2023 Funds 2022 Costs of other trading activities - Shop costs 3.910 3.910 4.487 4,487 11
Cathedral Youth Club Notes to the Flnancial Statements (coniln(*dJ Year ended 31 March 2023 Expendlture on charftable actlvlties by lund type Unrestricted Funds Restricted Total Funds Funds 2023 Charitable activty 57,065 158,625 215,689 Unrestricted Funds Restricted Total Funds Funds 2022 Charitable activity 43,020 137,164 180.184 Expendiiure on charitable activftles by activity type Actrvities undertaken Total funds directly 2023 Total fund 2022 Charitable activity 215,689 215.689 180,184 10. Net Incomel(expendlture) Net income/{experKlilure) is stated after charginty{crediting): 2023 2022 Depreciation of tangible fi'xed assets 19,678 19,333 11. Independenl examlnatlon fees 2022 Fees payable to the independent examiner for.. Independent examination of the financial statemerts 1,116 780 12. Slaff costs The total staff costs arKI employee benefits for the reporting period are analysed as follovts.. 2023 2022 Wages and salaries Employer contributions to pension plans 70,113 329 58.271 413 70,442 58.684 The average head courrt of employees during the year was 8 (2022: 8). No employee received employee benetits of more than £60,000 during the year (2022: Nil). 12
Cathedral Youth Club Notes to the Financial Statements (continued) Year ended 31 March 2023 11 Truslee romunerallon and expenses no remuneration or other benefits from employmerrt with the charity or a related entlty were received by the trustees 14. Tanglble fixed assets Freehold Fixtures and propety fittings Total Cosl At 1 April 2022 Additions 745,296 9,852 755,148 89.891 6,210 96.101 835.187 16,062 851.249 At 31 March 23 Depreclaiion At 1 April 2022 Charge for the year At 31 March 20tJ 60,131 15,103 75.234 70.383 4,575 74,958 130,514 19,678 150.192 Carrying amount Al 31 March 2023 679.914 21.143 701,057 At 31 March 2022 685.165 19,508 704,673 15. Debtors 2022 Prepayments and accrued income Other deblors 2,342 15,271 17,613 3,360 28,612 31,972 1& Creditors: amounts falling due within one year 2022 Accruals and deferred income Social security and other taxes Other creditors 1.248 2,796 78,572 1,026 2,883 16,333 82,616 20,242 17. Creditors: amounts falllng due after more than one yoar 2022 Accruals and deferred income 684,741 685,362 13
Cathedral Youth Club Notes to the Financlal Statements (con11no) Year ended 31 March 2023 18. Deferred income 2023 2022 At 1 April 2022 Amount released to income Amount deferred in year At 31 March 2023 685,362 (18,187) 15,566 684.741 578.131 (27.770) 135.001 685.362 19. Pensions and olher post retlrement benefft8 Defined contrfbulion plans The amount recognised in income or expenditure as an expense in relation to defined contribution plans was £329 (2022: £413). 20. Government grants The amounts recognised in the linancial statements for govemment grants are as follows: 2022 Recognised in creditors: Deferred govemment grarrts due after more than one year Recognised in income from donations and legacies: Government grants income 684,741 685.362 16,187 15,419 21. Analysls of charilable funds Unreslrlcted funds Al 31 March 202 At 1 April 2022 Income Expenditure General funds 64,457 (60,975) 48.966 At 31 March 202 At 1 April 2021 Income ExperKliture General funds 46,140 (47.507) 45.485 14
Cathedral Youth Club Notes to the Flnancial Statements (¢onllnued) Year ended 31 March 2023 21. Anatysi8 of charltable funds (coniin Restricted funds At 31 March 202 At 1 April 2022 Income Expenditure Restricted Fund 318 156,853 (158,625) (1,454) At 31 March 202 Al 1 April 2021 Income Expenditure Restricted Fund 137.028 {137,164) 318 15
Cathedral Youth Club Management Information Year ended 31 March 2023 The following pages do not forni part of the financkl stat8ments. 16
Cathedral Youth Club Detailed Statement of Financial Activltles Year ended 31 March 2023 2023 2022 Income and endowments Donaiions and lagacte8 Donations Dept. for Communities Derry City & Strabane Dist council Education Authority Big Lottery Greystone Foundation PSNI Ulster Garden Villages Dept. of Foreign Affairs Awards for All Garfield Weslon The Executive Ottice l Urban Willage Tampon Tax Fund Sundry Grants Government grant income Subscriptions 3.200 42.018 14,583 10,286 24.446 39,538 500 5,000 13.457 4.950 11.000 (1,958) 16,190 13.794 16.187 1,180 38,584 18,949 19,231 21,010 27,811 17,559 8,096 15,419 503 213,191 177,285 Charilable actlvttleg Room hire 1,135 167 Other tradlng activities Fundraising events Cafe income 370 6.057 6.427 6,984 6.984 Total income 221,310 183,879 17
Cathedral Youth Club Detailed Statement of Flnancial Actlvltles (contlnued) Year ended 31 March 2023 2022 Expenditure Costs of other tradlng acllvhlos Opening stock Purchases Closing stock 250 3.785 125 4,737 250 3.910 4,487 Expendlture on charitable actlvltles Wages and salaries Pension costs Rates and water Light and heat Repairs and maintenance Insurance Legal and professional fees Telephone Depreciation Bank charges Sundry expenses Advertising Covid response Activities & programme costs Cleaning Printing, postage & stationery Travel 70,113 329 895 7.278 4.834 1,096 1.980 1,577 19.678 357 1,658 180 58,271 413 4,495 1,067 1,030 1,422 1,655 19,333 317 2,287 358 3,279 79,034 415 4,254 1,970 101.568 2,885 1,261 215,689 180,184 Totsl expendlture 219,599 184,671 Net incomel(expendlture) 1,711 (792) 18
Cathedral Youth Club Notes to the Detailed Statement of Financial Activities Year ended 31 March 2023 2023 2022 Costs of other trading activities Costs of olher Iradlng activitles- Shop ¢t$ Shop costs - opening stock Shop cosls - purchases Shop costs - closing stock 250 3,785 (125) 3,910 4,737 (250) 4.487 Cosis of other trading acllvltles 3.910 4.487 Expendlture on charilable activities Chariiable activlty Activities undertaken directly Wages/salaries Pension costs Rates & water Light & heat Repairs & maintenance Insuran Legal and professional fees Telephone Depreciaiion Bank charges Sundry expenses Advertising Covid response Activities & prcgramme costs Cleaning Printing, postage & stationery Travel 70,113 329 895 7,278 4,834 1,096 1,980 1.577 19.678 357 1.658 58,271 413 584 4,495 1,067 1,030 1,422 1,655 19,333 317 2,287 358 3,279 79,034 415 4,254 1,970 180,184 101.568 2,885 1,261 215,689 Expendlture on charltable a1vIlle8 215,689 180,184 19