Charity registration number NIC107515 (Northern Ireland)
Company registration number NI032769
YOUNG ENTERPRISE NORTHERN IRELAND ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025
YOUNG ENTERPRISE NORTHERN IRELAND
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 JULY 2025
| a | a | a | a | a | a | a | a |
|---|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Unrestricted | Restricted | Total | ||
| funds | funds | funds | funds | ||||
| 2025 | 2025 | 2025 | 2024 | 2024 | 2024 | ||
| Notes | £ | £ | £ | £ | £ | £ | |
| Income from: | |||||||
| Donations and legacies | 2 | 348,732 | 218,973 | 567,705 | 369,881 | 366,440 | 736,321 |
| Charitable activities | 3 | 4,494 | - | 4,494 | 5,680 | 56,822 | 62,502 |
| Investments | 4 | 15,022 | - | 15,022 | 13,447 | - | 13,447 |
| Total income | 368,248 | 218,973 | 587,221 | 389,008 | 423,262 | 812,270 | |
| Expenditure on: | |||||||
| Raisingfunds | 5 | 647 | - | 647 | 2,590 | - | 2,590 |
| Charitable activities | 6 | 678,984 | 218,973 | 897,957 | 554,694 | 423,262 | 977,956 |
| Total expenditure | 679,631 | 218,973 | 898,604 | 557,284 | 423,262 | 980,546 | |
| Net expenditure and movement infunds |
(311,383) | - | (311,383) | (168,276) | - | (168,276) | |
| Reconciliation offunds: | |||||||
| Fund balances at 1 August 2024 |
556,809 | - | 556,809 | 725,085 | - | 725,085 | |
| Fund balances at 31 July 2025 |
245,426 | . | 245,426 | 556,809 | - | 556,809 |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
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YOUNG ENTERPRISE NORTHERN IRELAND
BALANCE SHEET AS AT 31 JULY 2025
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| 2025 | 2024 | ||||
|---|---|---|---|---|---|
| Notes | £ | £ | £ | £ | |
| Fixed assets | |||||
| Tangible assets | 12 | 2,214 | 778 | ||
| Current assets | |||||
| Debtors Cash at bank and in hand |
13 | 87,069 369,357 |
106,253 639,742 |
||
| 456,426 | 745,995 | ||||
| Creditors: amounts falling due within oneyear |
14 | (213,214) | (189,962) | ||
| Net current assets | 243,212 | 556,033 | |||
| Total assets less current liabilities | 245,426 | 556,811 | |||
| Income funds | |||||
| Unrestricted funds | 245,426 | 556,809 | |||
| 245,426 | 556,809 |
The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 July 2025, although an audit has been carried out under section 65 of the Charities Act (Northern 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 obtain an audit of its financial statements under the requirements of the Companies Act 2006, for the year in question in accordance with section 476.
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 1st April 2026.
Judith Totten Trustee
Company registration number NI032769
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YOUNG ENTERPRISE NORTHERN IRELAND
STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 JULY 2025
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||||||||||
|---|---|---|---|---|---|---|---|---|
|SS———a————|
|2025|2024|
|Notes|£|£|£|£|
|Cash|flows|from|operating|activities|
|Cash|absorbed|by operations|19|(282,084)|(253,244)|
|Investing|activities|
|Purchase|of tangible|fixed|assets|(3,321)|-|
|Investment|income|received|15,022|13,447|
|Net cash|generated from|investing|activities|11,701|13,447|
|Net|cash|generated|from|financing|activities|-|-|
|Net decrease|in|cash|and|cash|equivalents|(270,383)|(239,797)|
|Cash|and|cash|equivalents|at|beginning|of year|639,741|879,538|
|Cash|and|cash|equivalents|at end|of year|369,358|639,741|
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YOUNG ENTERPRISE NORTHERN IRELAND
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2025
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1 Accounting policies
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Charity information Young Enterprise Northern Ireland is a private company limited by guarantee incorporated in Northern Ireland. The registered office is 42/46 Fountain Street, Belfast, BT1 5EF.
- 1.1. Basis of preparation
The financial statements 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” (“FRS 102”) and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 4 January 2019). The Charity is a Public Benefit Entity as defined by FRS 102.
The financial statements are prepared in sterling, which is the functional currency of the Charity. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, modified to include certain financial instruments at fair value. The principal accounting policies adopted are set out below.
- 1.2 Going concern
At the time of approving the financial statements, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
- 1.3. Charitable funds Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives. Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
Endowment funds are subject to specific conditions by donors that the capital must be maintained by the Charity.
1.4 Income Income is recognised when the Charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the Charity 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 recognised at the time of the donation.
Legacies are recognised on receipt or otherwise if the Charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
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YOUNG ENTERPRISE NORTHERN IRELAND
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2025 Neen ee ee ee SS eee
- 1 Accounting policies
(Continued)
- 1.5 Expenditure Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.
Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset's use.
All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Where costs cannot be directly attributable to particular headings, they have been allocated to activities on a basis consistent with use of resources.
- 1.6 Tangible fixed assets Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
| Programme Equipment | 33.33% Straight line |
|---|---|
| Fixtures and fittings | 33.33% Straight line |
| Computers | 33.33%Straightline |
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.
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1.7. Impairment of fixed assets 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 indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).
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1.8 Cash and cash equivalents Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of twelve months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.9 Financial instruments The Charity has elected to apply the 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 Charity's balance sheet when the Charity becomes party 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 enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
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YOUNG ENTERPRISE NORTHERN IRELAND
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2025
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1Accounting policies (Continued)
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured 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 liabilities
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value 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 carried at amortised cost, using the effective interest rate 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 within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Derecognition of financial liabilities
Financial liabilities are derecognised when the Charity’s contractual obligations expire or are discharged or cancelled.
1.10 Employee benefits The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the Charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
1.11 Retirement benefits Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
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YOUNG ENTERPRISE NORTHERN IRELAND
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2025
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2 Donations and legacies
| Unrestricted | Restricted | Total | Unrestricted | Restricted | Total | |
|---|---|---|---|---|---|---|
| funds | funds | funds | funds | |||
| 2025 | 2025 | 2025 | 2024 | 2024 | 2024 | |
| £ | £ | £ | £ | £ | £ | |
| Donations - Affiliation fees |
125,370 | - | 125,370 | 113,505 | - | 113,505 |
| Fundraising activites Grants (see detail below) |
223,362 - |
- 124,690 |
223,362 124,690 |
251,376 - |
- 130,808 |
251,376 130,808 |
| Grants - Trusts and Foundations |
- | 94,283 | 94,283 | 5,000 | 235,632 | 240,632 |
| 348,732 | 218,973 | 567,705 | 369,881 | 366,440 | 736,321 | |
| Grants receivable for | ||||||
| core activities | ||||||
| Donations - Private sector |
- | 75,200 | 75,200 | - | 81,200 | 81,200 |
| Grants from central and local Government |
- | 49,490 | 49,490 | - | 49,608 | 49,608 |
| . | 124,690 | 124,690 | . | 130,808 | 130,808 |
3 Charitable activities
| 2025 | 2024 | |
|---|---|---|
| £ | £ | |
| Programmefees and charges Deliveryagreements - central and local Government |
4,494 - |
5,680 56,822 |
| 4,494 | 62,502 | |
| Analysis by fund Unrestricted funds |
4,494 | 5,680 |
| Restricted funds | - | 56,822 |
| 4,494 | 62,502 |
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YOUNG ENTERPRISE NORTHERN IRELAND
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2025
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4 Income from investments
| Unrestricted | Unrestricted | |||
|---|---|---|---|---|
| funds | funds | |||
| 2025 | 2024 | |||
| £ | £ | |||
| Interest | receivable | 45,022 | 13,447 | |
| 5 | Raising | funds |
| Unrestricted | Unrestricted | |||
|---|---|---|---|---|
| funds | funds | |||
| 2025 | 2024 | |||
| £ | £ | |||
| Fundraising | and | publicity | 647 | 2,590 |
| 647 | 2,590 |
6 Charitable activities
| Programme costs direct |
Support costs |
Total | Programme costs direct |
Support costs |
Total | |
|---|---|---|---|---|---|---|
| 2025 | 2025 | 2025 | 2024 | 2024 | 2024 | |
| £ | £ | £ | £ | £ | £ | |
| Employability programmes | 438,960 | 200,642 | 639,602 | 379,431 | 286,591 | 666,022 |
| Entrepreneurship programmes |
181,687 | 73,580 | 255,267 | 200,620 | 54,426 | 255,046 |
| Financial | 248 | 2,840 | 3,088 | 54,507 | 2,381 | 56,888 |
| 620,895 | 277,062 | 897,957 | 634,558 | 343,398 | 977,956 | |
| Analysis by fund Unrestrictedfunds |
469,486 | 209,499 | 678,985 | 359,920 | 194,744 | 554,664 |
| Restricted funds | 151,409 | 67,563 | 218,972 | 274,638 | 148,624 | 423,262 |
| 620,895 | 277,062 | 897,957 | 634,558 | 343,368 | 977,956 |
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YOUNG ENTERPRISE NORTHERN IRELAND
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2025
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|||||||||||
|---|---|---|---|---|---|---|---|---|---|
|7Support|costs|allocated|to|activities|
|2025|2024|
|£|£|
|Staff|costs|202,469|252,690|
|Depreciation|1,885|3,778|
|Office|55,968|61,886|
|Travel|7,203|9,334|
|Marketing|3,060|10,590|
|Governance|costs|6,477|5,120|
|277,062|343,398|
|Analysed|between:|
|Charitable|activities|277,062|343,398|
|8|Net movement|in|funds|2025|2024|
|£|£|
|The|net|movement|in|funds|is|stated|after|charging/(crediting):|
|Fees|payable|for the|audit|of the|charity's|financial|statements|4,620|4,680|
|Depreciation|of owned|tangible fixed|assets|1,885|3,778|
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9 Trustees
None of the Trustees (or any persons connected with them) received any remuneration or benefits from the Charity during the year.
During the year Trustees made donations to the Charity amounting to £21,600 (2024: £11,445).
10 Employees
The average monthly number of employees during the year was:
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||||||
|---|---|---|---|---|
|2025|2024|
|Number|Number|
|21|21|
|Employment|costs|2025|2024|
|£|£|
|Wages|and|salaries|606,262|612,116|
|Social|security|costs|42,761|45,986|
|Other pension|costs|29,675|28,694|
|678,698|686,796|
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YOUNG ENTERPRISE NORTHERN IRELAND
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2025
a 10 Employees (Continued)
| The numberofemployeeswhose annual remuneration was more than £60,000 | ||
|---|---|---|
| is as follows: | ||
| 2025 | 2024 | |
| Number | Number | |
| £80,000 - 90,000 | 1 | 1 |
| Remuneration ofkey management personnel | ||
| The remuneration ofkey management personnelwas as follows: | ||
| 2025 | 2024 | |
| £ | £ | |
| Aggregatecompensation | 198,445 | 189,725 |
11. Taxation
The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.
12 Tangible fixed assets
| Tangiblefixedassets | ||||
|---|---|---|---|---|
| Tangible fixed assets | Programme | Fixtures and | Computers | Total |
| Equipment | fittings | |||
| £ | £ | £ | £ | |
| Cost | ||||
| At 1 August2024 Additions |
8,293 - |
5,088 - |
37,888 3,321 |
51,269 3,321 |
| At31 July2025 | 8,293 | 5,088 | 41,209 | 54,590 |
| Depreciation and impairment At 1 August2024 Depreciation charged in theyear |
8,293 - |
5,088 - |
37,109 1,885 |
50,490 1,885 |
| At31 July2025 | 8,293 | 5,088 | 38,995 | 52,375 |
| Carrying amount At 31 July2025 |
- | . | 2,214 | 2,214 |
| At31July2024 | - | . | 778 | 778 |
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YOUNG ENTERPRISE NORTHERN IRELAND
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2025
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|---|---|---|---|---|---|---|---|---|---|---|
|iees|
|13|Debtors|
|2025|2024|
|Amounts|falling|due|within|one|year:|£|£|
|Trade|debtors|68,190|87,631|
|Prepayments|and|accrued|income|18,879|18,622|
|87,069|106,253|
|14|Creditors:|amounts|falling|due|within|one|year|
|2025|2024|
|£|£|
|Other taxation|and|social|security|13,737|13,258|
|Trade|creditors|8,552|7,541|
|Accruals|and|deferred|income|190,925|169,163|
|213,214|189,962|
|15|Retirement|benefit|schemes|
|2025|2024|
|Defined|contribution|schemes|£|£|
|Charge|to|profit|or loss|in|respect|of defined|contribution|schemes|29,675|28,694|
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The Charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the Charity in an independently administered fund.
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YOUNG ENTERPRISE NORTHERN IRELAND
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2025
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16 Restricted funds
The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes:
| Movement in funds | Movement in funds | |||
|---|---|---|---|---|
| Balance at | Incoming | Resources | Balance at | |
| 1 August 2024 | resources | expended | 31 July 2025 | |
| £ | £ | £ | £ | |
| Danske Bank | - | 37,500 | (37,500) | . |
| Radius HousingAssociation | - | 25,000 | (25,000) | - |
| Ulster Garden Villages Trust | - | 20,000 | (20,000) | - |
| Mid EastAntrim Council | - | 19,320 | (19,320) | - |
| The James Kane Foundation | - | 18,308 | (18,308) | - |
| The Think Human Fund | - | 16,275 | (16,275) | - |
| Community Foundation for NI/Rank Foundation | - | 14,000 | (14,000) | - |
| A&O Shearman Foundation | . | 10,000 | (10,000) | - |
| Lisburn & Castlereagh City Council | - | 8,145 | (8,145) | - |
| StJames Place | - | 8,000 | (8,000) | - |
| Antrim and Newtownabbey Borough Council Derry City&Strabane District Council |
- - |
7,650 7,450 |
(7,650) (7,450) |
- - |
| Inst ofExport | - | 5,000 | (5,000) | - |
| Causeway Coast and Glens Borough Council Belfast City Council |
- - |
3,835 3,000 |
(3,835) (3,000) |
- - |
| North City Business Centre Enkalon Foundation |
- . |
2,500 1,500 |
(2,500) (1,500) |
- - |
| Friends ofYoung Enterprise NI Foundation inc | - | 1,200 | (1,200) | - |
| Others | . | 10,290 | (10,290) | - |
| - | 218,973 | (218,973) | - |
17 Unrestricted funds
The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.
| At 1 August | Incoming | Resources | At 31 July | |
|---|---|---|---|---|
| 2024 | resources | expended | 2025 | |
| £ | £ | £ | £ | |
| General funds | 556,809 | 368,248 | (679,631) | 245,426 |
| Previous year: | At 1 August 2023 |
Incoming resources |
Resources expended |
At31 July 2024 |
| £ | £ | £ | £ | |
| Generalfunds | 725,085 | 389,008 | (557,284) | 556,809 |
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YOUNG ENTERPRISE NORTHERN IRELAND
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2025
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18 Analysis of net assets between funds
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||||||||||
|---|---|---|---|---|---|---|---|---|
|Unrestricted|Restricted|Total|Unrestricted|Restricted|Total|
|funds|funds|funds|funds|
|2025|2025|2025|2024|2024|2024|
|£|£|£|£|£|£|
|Fund|balances|at|31|
|July|2025|are|
|represented|by:|
|Tangible|assets|2,214|-|2,214|778|-|778|
|Current|assets/(liabilities)|243,212|-|243,212|556,031|-|556,031|
|245,426|-|245,426|556,809|-|556,809|
|19|Cash|absorbed|by|operations|2025|2024|
|£|£|
|Deficit|for the year|(311,383)|(168,276)|
|Adjustments|for:|
|Investment|income|recognised|in|statement|of financial|activities|(15,022)|(13,447)|
|Depreciation|and|impairment|of tangible|fixed|assets|1,885|3,778|
|Movements|in|working|capital:|
|Decrease/(increase)|in|debtors|19,184|(36,314)|
|Increase/(decrease)|in|creditors|23,252|(38,985)|
|Cash|absorbed|by|operations|(282,084)|(253,244)|
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20 ~=Analysis of changes in net funds
The Charity had no material debt during the year.
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