Charlty registration number NIC107515
Company registration number N1032769 (Northern Ireland)
YOUNG ENTERPRISE NORTHERN IRELAND
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

YOUNG ENTERPRISE NORTHERN IRELAND
STATEMENT OF FINANCIALACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 JULY2023
Unrostrfcted Restrlcted
fund8
funds
2023
2023
Total
Unrwdtricted Restrlctsd
funds
funds
2022
2022
Total
2023
2022
Notes
Donations and
legacies
Charitabl8 activities
Investments
143,329
2,401
684,328
103,690
827,657
106.091
1,645
106,084
3,843
29
834,823
112,026
940,9)7
115,869
29
Total income
147,375
788.018
935,393
109,956
946,849
1,056,805
Raising funds
82
82
2,609
2,609
Charitable actlvitles
260,426
788,018 1,048,444
53,702
948.437
1,002,139
Total expondlture
260,508
788,018
1,048,526
56.311
948,437
1,004,748
Net (expendltureylncome
for the yearl
Net movement in funds
(113,133)
{113,133)
53,645
(1,588)
52,057
Fund balances at 1 August
2022
838,218
838,218
784,573
1,588
786,161
Fund bAlan¢es at 31 July
2023
725,085
725,085
838,218
838,218
The ststement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
The statement of financial activitie5 also complies with the requirements for an income and expenditure account
under the Companies Act 2006.
15-

YOUNG ENTERPRISE NORTHERN IRELAND
BALANCE SHEET
ASAT31 JULY2023
2023
2022
Notes
Fixed assets
Tangible assets
11
4,555
9,240
Current assets
Debtors
Cash at bank and in hand
12
89,938
879,539
366,907
688,172
949,477
1,055,079
Credltor•: amounts falllng due wlthln
one year
13
(228,94n
(226,101)
Net current assets
720,530
828,978
Total a88et• loss current Ilabllitie8
725,085
838,218
Income funds
Unrestricted funds
725,085
838,218
725,085
838,218
The cornpany is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act
2006, for the year ended 31 July 2023, although an audit has been carried out under 8ection 85 of the Charities Act
(Northem Ireland) 2008.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006
with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtaln an audit of its financial statements under the requirements
of the Companies Act 2006, for the year In question in accordance with section 478.
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 by the Trustees on 21 st March 2024
Judith Totten
Trustee
Company registratlon number NlQ32769
16-

YOUNG ENTERPRISE NORTHERN IRELAND
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 JULY 2023
2023
2022
Notsg
Cash flows from op8ratlng activitles
Cash generated froml(absorbed by}
operations
17
192,055
{88,568)
Investlng activitias
Purthasé of tangible fixed 85sets
Investment income received
(2,334)
1,645
(9,000)
29
Net cash used In inve8tlng actlvltle8
(6891
(8,971)
Net ca8h u88d In financlng activitie8
Not Increa8el{decrea881 In cash and ca8h
equiv•l8nts
191,366
(97,539)
Cash and cash equivalents at baginning of year
888,173
785,711
Cash and cash aqulvalents at end of year
879,539
688,172
17-

YOUNG ENTERPRISE NORTHERN IRELAND
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY2023
Accounting policle8
Charlty infonnation
Young Enterprise Northern Ireland is a privat8 company limited by guarantee incorporated in Northern Ireland.
The registèr8d office is 42148 Fountain Street, Belfast, BT15EF.
1.1 Accounting conventlon
The financial stateménts have been prepared in accordance with the Charity's governing documents, the
Companies Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of
Ireland" C'FRS 102,1 and the Charities SORP "Accounting and Reporting by Charities.. Statement of
Recommended Practice applicable to charities preparing their accounts in accordance with the Financial
Réporting Standard applicable in the UK and Republic of Ir61and {FRS 1021" (effective 1 January 2019). The
Charity is a Public Benefit Entity as defined by FRS 102.
The financial statements are prepared In sterling, which is tha functional currenw of the Charity. Monetary
amounts in these financial statements are rounded to Ihe nearest £.
The financlal statements have been prapar8d under the historical cost convention, mod1fled to include certaln
financial instruments at fair value. The principal a¢￿untIng policies adopted are set out below.
1.2 Going concern
At the time of approving the financlal statements, the Trustees have a reasonable expectation that the Charlty
has adequate resoUr￿S to continue in operational existen￿ for the foreseeable future. Thus the TrLk8tees
continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3 Charltable fundg
Unrestricted funds are available for use at the discretion of the Trustees in furtherance of thelr charitable
objectlves.
Restri￿ed funds are subject to specifi¢ condltions by donors as to how they may be used. The purposes and
uses of the restricted funds are set out in the notes to the financlal statements.
Endowment ftjnds are subject to speclfic conditions by donors that the capital must be maintained by the
Charity.
1.4 Income
Income is recognised when the Charity is legalty entitled to it after any perforrnan￿ conditions have been
met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations aré recognised on receipt. Other donations 8re recognised once the Ch8rity has been notified
of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in
relation to donations received under Gift Aid or deeds of covenant is recognisèd at the time of the donation.
Legacies are recognised on receipt or otherwise if the Charity has been notified of an impending distribLrtion,
the amount is known, and receipt is expected. If the amount is not known. the legacy is treated as a
contingent assel.
18

YOUNG ENTERPRISE NORTHERN IRELAND
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2023
Accountlng policies
(Continued)
1.5 Expendlture
Expenditure is recognised onc8 there is a legal or constructive obligation to transfer economic benefrt to a
third party, it is probablè that a transfer of economic benefits will be required in settlemenl, and the amount of
the obligation can be measured reliably.
Expenditure is classified by activity. The costs of 8ach activity are made up of the total of dir&t costs and
shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single
activity are allocated directly to that aclivily. Shared costs which contribute ta more than one activity and
support costs which are not attributable to a single activity are apportioned be￿een those activitEs on a basis
onsistent with the use of resources. Central staff Gosts ar8 allocated on the basis of lime spent, and
dépreciation charges are allocated on the portion of the asset's use.
All expenditure is accounted for on 8n accruals basis and has been classified under headings that aggregate
811 costs relatèd to the category. Where costs cannot be directly attributable to particular headings, they have
been allocated to activities on a basis ¢onsislent with use of resources.
1.6 Tangible flxed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuatlon, net of
depreciation and any impairment losses.
Depreciation 15 recognised so as to write off the cost or valuation of assets lèss their residual values over their
useful lives on the following bases..
Programme Equipment
Fixtures and fittings
Computers
33.33 % Straight liné
33.33 % Straight line
33.33% Straight line
The gain or loss arising on the disposal of an asset is determined as the difference belween the sale proceeds
and the carrying value of the assel, and is recognlsed In the statement of financial activities.
1.7 Impalrnient of flxed a$$ets
At each reporting end date. the Charity reviews the carrying amounts of its tangible assets to determine
whether there is any indication that those assets have suffered an impairment loss. If any such indrAtion
exists, the recoverable arnount of the asset is estifflated in order to delermine the extent of the impairment
oss (if any).
1.8 Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held al Gall with banks, other short-tenn liquid
investmenls with original maturities of Iwelve months or less, and bank overdrafts. Bank overdrafts are shown
within borrowings in current liabilities.
1.9 Flnancial instruments
The Charity has elected to apply Ihe provisions of Section 11 'Basic Financial Instruments, and Section 12
'other Financial Instruments Issues, of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the Chariiy's balance Sheet when the Charity becomes paty to the
contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements. when
there is a legally enfor￿able right to set off the recognised amounts and there is an intention lo settle on a net
basis or to realise the asset and settle the liability simultsneously.
19

YOUNG ENTERPRISE NORTHERN IRELAND
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2023
Accountlng pollcies
(Continued)
Basic flnancial assets
Basic financial assets, which include debtors and cash and bank balances. ar8 initially measured at
transaction price including transaction costs and are subseqlsently carried at amortised cost using the eff8clive
interest method unless the arrangement constitutes a financing transaction, where thè transaction is
mèasured at the present value of the future receipts discounted at a market rate of interest. Financial assets
classified as receivable within one year are not amortised.
Basic financial Ilabllities
Basic financial liabilities, including creditors and bank loans are initially recognisèd at transaction pric8 unless
the arrangement constitutes a financing transaction, where the debt instrument is measured at the present
valu8 of the future payments discounted at a market rate of interest. Financial liabilities classified as payable
within one year are not amortised.
Debt instruments are subsequently carrled at 8mortised cost, uslng the effective interesl rat8 method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of
operations from suppliers. Amounts payable are classified as current liabilities if payment is due wrthin one
y8ar or less. If not, Ihey are presented as non-current liabilities. Trade creditors are recognised initially at
transa¢tlon price and subsequently measured 8t amortised cost uslng the effective interest method.
Derecognition of flnanclal liabilltles
Financial liabilities are derecognised when the Charity's contractual obligations expire or are discharged or
cancelled.
1.10 Employee beneflts
The Cost of any unused holiday entitlement is recognised in the period in which the employee's seNices are
r8ceived.
Temiination benefits are recognised immediately as an expense when the Charity is demonstrably committed
to teminate the employment of an employee or to provide temiinatlon benefits.
1.11 Retlrement beneflts
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
-20-

YOUNG ENTERPRISE NORTHERN IRELAND
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2023
Donations and legacles
Unrestrlcted Restrlctsd
funds
funds
Totsl Unrestricted Restricted
fund5
funds
Total
2023
2023
2023
2022
2022
2022
Donations - Affiliation
fees
Fundraising activites
Grants (see detail below)
Grants- Trusts and
Foundations
106,745
26,084
10,000
106,745
27,284
607,144
88,215
17,869
88,215
17,869
719,159
1,200
597.144
719,159
500
85,984
86,484
115,664
115,664
143,329
684,328
827,657
108,084
834,823
940,907
Grants receivable for
core activltle8
Donations - Private
sector
Grants from central and
local Government
10,000
64,827
74,827
33,055
33,055
532,317
532,317
886,104
686,104
10,000
597,144
607,144
719,159
719,159
Charltable actlvltle•
2023
2022
Programme fees and charges
Delivery agreements - central and local Govemient
2,401
103,690
3,843
112,026
108,091
115,869
Analysis by fund
Unrestricted funds
Restricted funds
2,401
103,690
3,843
112,026
106,091
115.869
21

YOUNG ENTERPRISE NORTHERN IRELAND
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY2023
Investrnents
Unrestrlctsd Unrestrlcted
funds
funds
2023
2022
Interest raceivable
1,645
29
Raislng funds
Unrestrlctsd Unrestrict8d
funds
funds
2023
2022
Staff costs
82
2,609
Fundraising and publicity
82
2,809
82
2,609
Charltable activltlg8
Programmo
costs dlrect
2023
Support
C05t8
2023
Total Programme
CO8ts dlrect
2022
Support
C08ts
2022
Total
2023
2022
Employability programmes
Entrepreneurship
programmes
Financial
470,061
295,404
765,465
427.556
299,199
726,755
228,777
52.643
1.509
281.420
1,559
221,423
53,961
275,384
698,888
349,556 1,048,444
648,979
353,180 1,002,139
Analysls by fund
Unrestricted funds
Restricied funds
173,598
525.290
86,828
262,728
260.426
788,018
34,779
614.200
18,923
334,237
53,702
948,437
698,888
349,556 1,048,444
648,979
353,160 1,002,139

YOUNG ENTERPRISE NORTHERN IRELAND
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2023
Support costs
Support Govornance
costs
costs
2023
Support Governance
costs
costs
2022
Staff costs
Depreciation
Office
Travel
Marketing
215,683
7.018
102,883
8,868
10,835
215.683
7.018
102,883
8,868
10,835
182,250
7,284
124,322
3,225
24,524
182,250
7.284
124.322
3,225
24,524
Audil f88S
Legal and professional
3,800
669
3,6
4,500
7,055
4,5CN)
7,055
345,287
4,269
349,556
341,605
11,555
353,160
Analysed bel￿een
Charitable activities
345,287
4,269
349,556
341,605
11,555
353,160
Govemance co8t5 include5 payments lo the auditors of £3,500 (2022- £4,500) for audit fees.
Trustees
None of the Trustees (or any per80ns connected with them) received any remuneration or benefrts from the
Charity during the y8ar.
employe•8
The average monthly number of employees during the y8ar was:
2023
Number
2022
Number
22
22
Employment costs
2023
2022
Wages and salaries
Social security costs
Oiher pension costs
615,023
51.349
26.985
498,270
27.598
22.515
693,357
548,383
-23-

YOUNG ENTERPRISE NORTHERN IRELAND
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY2023
Employe88
Icontlnued)
The number of employees whose annual rernun8ration was more than £60,000
is as follows..
2023
Number
2022
Number
£80,000- £90,000
10 Taxatlon
The charity is exémpt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section
252 of the Taxation of Charg@able Gains Act 1992 to the extenl that these are applied to its charitablè objects.
11 Tanglble fixed ag$9ts
Programm• Flxturn• and
Equlpmont
flttlng•
Computern
Total
C08t
At 1 August 2022
Addition5
Disposals
15,932
8,293
63,066
2,334
(27,513>
87,291
2,334
(38,357)
(10,844)
At 31 July 2023
5,088
8,293
37,887
51,268
Depreclatlon and Impalrment
At 1 August 2022
Depreciation charged in the year
Eliminated in respect of dlsposals
15,932
8,293
53,826
7,018
127,513>
78,051
7,018
(38,357)
(10.8441
At 31 July 2023
5,088
8,293
33,332
46,712
Carrylng amount
At 31 July 2023
4,555
4,555
At 31 July 2022
9,240
9,240
12 Debtors
2023
2022
Amounts falling due wlthin one year:
Trade deblors
Prepayments and accrued income
48,867
21,071
284,614
82,293
69,938
366,907
-24-

YOUNG ENTERPRISE NORTHERN IRELAND
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED)
FOR THE YEAR ENDED 31 JULY 2023
13 Creditors: amounts falllng due wlthin one year
2023
2022
Other taxation and social security
Trade creditors
Accruals and deferred income
13,597
7,846
207,704
11,343
24,968
189,790
228,947
226,101
14 Restrlcted fund8
The income funds of the charity include restrictéd funds comprising the following unexpended balances of
donations and grants held on trust for spe¢ifi¢ purp088S:
Movement In fund8
Incomlnq
R¢8our¢e8
Balan¢0 at
rgsourcgl
oxpondod 31 July 2023
Balance at
l Augu8t 2022
Allen & Overy
Allstate
Antrim Newtownabbey
Armagh, Banbridge Craigavon
Bank of Ireland
Causewaycoast & Glens
Choice Housing
Clanmill Housing
Comrnunity Foundation Nl IARN)
Dankse Bank
Department of Education
Enkalon Foundation
EY
Friends ofYENI
Garfield Weston
Halifax Foundation
Lisbum City & Castlereagh
Mid & EastAntrim
Money Pensions Servi
Moypark
Newry, Moum8 & Down
Other
Rank Foundation
Ulster Business School
2,500
5,000
6,550
27,600
9,OOa
14,060
12,000
19,827
19,754
10,000
462,687
1.500
5,000
8,189
20,000
5,000
18,000
2,650
84,246
7,000
10,000
4,434
29,042
4,000
(2,500)
15,000)
16,550)
(27,6001
19,000)
114,060>
112,000)
119,827)
119,754)
110,000)
1462,667)
(1,500)
(5,000)
{8,189)
(20,000)
15,000)
{18,000)
(2,650)
184,246)
(7,000)
110,000)
(4,434)
(29,042)
(4,000)
788,018
1788,018)
-25-

YOUNG ENTERPRISE NORTHERN IRELAND
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY2023
15 Analysis of net aB88t8 between funds
Unrestricted Rp$tricted
funds
funds
2023
2023
Totsl Unrestricted Restricted
funds
funds
2022
2022
Total
2023
2022
Fund balances at 31
July 2023 are
repr8s8nt8d by..
Tangible assets
Current assetsl{liabilities)
4,555
720,530
4,555
720,530
9,240
828,979
9,240
828,979
725.085
725,085
838,219
838,219
16 Rolated party tran8action8
Remuneration of key management personnel
The remuneration of key management personnel is as follows.
2023
2022
Aggregate compensation
188,262
162,257
Transaction8 wlth related partle8
Durlng the year the Charity antered Into the following transactions with related parties..
Donatlon Income
2023
2022
Other related parties
1,200
4¢)0
1,200
400
The following amounts were outstanding at the reporting end date,,
-26-

YOUNG ENTERPRISE NORTHERN IRELAND
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2023
17 Cash generated from oparationg
2023
2022
{Deficitllsurpus for the year
(113,133)
52.057
Adjustments for:
Investment income recognised in statement of financi81 a¢tlvities
Depreciation and impairment of langible fbxed assets
(1,645)
7,017
(29)
7,284
Movements in working capital..
Decreasellincreas8) in debtors
Increaselldecreas8) in creditors
296,970
2,846
{99.854}
(48.025)
Ca8h gènerated froml(ab8orbad by) operatlon•
192,055
188,567)
18 Analy81s of changes In not funds
The Charity had no debt during the year,
-27-