Company Number.. N1639811 Charity Number: 107570 t'aspire Aspire (N.1.) IA company limited by guarantee, not havlng a share capltall Annual Report and Unaudited Financial Statements for the financial year ended 31 August 2023 Daly Park & Company Ltd Chartered Accountants 4 Camegie Street Lurgan Arniagh BT66 6AS
Aspire (N.1.) (A company Ilmlted by guarantee. not havlng a sharè capitsl CONTENTS Page Directors, and Other Infomiation Directors, Annual Report Statement of Directors, Responsibilities Independent Examine¢s Report Statement of Financial Actiwties Balance Sheet Notes to the Financial Statements 10- 13
Aspire (N.1.) (A company limited by guardntso, not having a share capitsll DIRECTORS. AND OTHER INFORMATION Directors Carol Litt David McBride David Wylie lan Bingham Leonard Adamson Megan Collins Jamie Curran Charity Number in Northern Ireland 107570 Company Number N1639811 Registered Offi¢e and Principal Address 238 Casue Lane Lurgan Craigavon Co. Amagh BT67 9BD Northern Ireland Independent Examingr Daly Park & Company Ltd Chartered Accountants 4 Carnegie Street Lurgan Am)agh BT66 6AS Bankers AIB 18-20 Scotch Street Dungannon Co Tyrone BT70 1AZ Northem Ireland
Aspire (N.1.) (A company Ilmited by guarantee, not having a share capital) DIRECTORS. ANNUAL REPORT for the financial year ended 31 August 2023 The directors present their Directors, Annual Report. combining the Directors. Report and Trustees, Report. and the unaudited financial slalements for the financial year ended 31 August 2023. The financial slalements are prepared in accordance with the Companies Act 2006, FRS 102 "The Financial Reporbng Standard applicable in the UK and Republic of Ireland" and Accounting and Reporting by Charities= Statement of Recommended Practice applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021. The Directors, Report contains the infomialion required to be provided in the Directors, Annual Report under the statement of Recommended Praclits ISORPI guidelines. The directors of the company are also charity Iruslees for the purpose of charity law and under the Company's constitution are known as members of the board of trustees. In this report the directors of Aspire (N.l.I present a summary of its purpose, governance, aclivilies, achievements and finances for the financial financial year 31 August 2023. The company is a registered eharity and hen the report and results are presented in a fomi which complies wlth the requirements of the Companies Act 2006 and, although not obliged lo comply with the Ststement of Recommended Practice applicable in the UK and Republic of Ireland FRS 102, the organisalion has implemented its recommendations where relevant in these financial slalements. Objectives and Actlvltles Aspire INI) exists lo deliver on its principal activity to work with children in Northern Iland in poverty lo help close the educational gap beeen the rich and POOT. We are a faith driven chartty based in Craigavon. Northern Ireland that work with local youth wot1(ers and churches to provide free servtces for children from lower income families to support and equip them in education. Ob'eclives Aspire {Nll has been established lo help close the educational attainment gap by partnering with schools and relevant agencies to.. Provide relationships that enable young people to iecognise their skills and full potential. Provide faeililators lo encourage young people in education and help them to tske ownership of their own education. Help those from lower income families by providing free tuition services Help young people lo learn outside of the classroom by providing fun based educational aclivilie5 outside of $¢hool hours Give young people the opportunity to explore faith. Activities Aspire Sessions These offer a place for young people lo work in a supeNised and supportive envrronment after school. We provide facililalors who encourage the young people and provide them with support. The facililalors are youth workers from local churches or organisations. Our young peoplo are provided with laptops, resources, and refreshments. Aspire Tuits"on For young people who take part in our after-school sessions who are struggling with any subjects, Aspire will endeavour lo link this young person lo a suitable tutor from our bank of volunteers who are qualified in this subject and provlde a period of free luilion. Aspire Activities Eduction is not just what happens in the classroom but can be fun loo. Aspire activities are monthly actimlies for young people run by local churches and youth groups where leaming is combined with leisure such a5 Sport or music lessons. Achigvgments and perforniance The outcomes we sel out lo achieve with Aspire are the PTevention or relief of poverty and the advancement of education for children and young people in Northern Ireland. We achieve these outcomes through counsellinglsupport. providing free education and training by working with schools. The benefits are improved literacy and numeracy of young people from low-income backgrounds. These benefits of AspiTe extend to schools. families and communitie$ in areas of deprivation.
Aspire {N.l.) IA company Ilmlto11 by guarantee. not having a share capital) DIRECTORS. ANNUAL REPORT for the financial year ended 31 August 2023 202212023 has been a great year for Aspire. We expanded our work in Belfast. ran a cross community camp and 8 eademies. We have worked in 25 schools this temi. We also ran a uniform exchange, a back to school day in Belfast and 8 kids summer scheme in Craigavon. Aspire has had another year of growth in 2022123. expanding our reach in Belfast and running more academies across Craigavon and Belfast. Running homework clubs in 25 schools and running summer schemes. camp and parents nights. We ran our ASPI Academy in 2022123 across Craigavon providing training in art, business, youth work. music production. wellbeing and barista for secondary age children and art, music and gaming for primary age children. In Belfast we ran football. art and music academies for se¢ondary age children. Our young people have been performing well in school and we have been able to track their success in education. behaviour and attendance. We saw 890A of our young people achieve 5 or more GCSES at grades A'.C. This was a 5% increase on last year. We were able to run a cross community camp programme and brought 34 young people from different backgrounds away lo Crawfordsburn Scout Centre. The young people were able to lake part in different sporting activities and we ran a programme looking al the history of Northern Ireland. The young people then planned a future town based on what they have learnt. We had special guests from education, youth work and faith backgrounds. Many people have continued to bless and support Aspire financially. We have increased our monthly giving this year and ran fundraisers. We have held a pub quiz, took part in the marathon. ran a charity football match, a comedy show and a dan challenge. We have re¢eived grants this year from UK Youth, Trust. KFC. Bentley. Allen & Overy Foundation and the Education Authority. We feel like we are now finally back to working to our full strength after the pandemic and are set to continue to grow and expand in 2023124. Iiiiiis
Aspire (N.1.) (A ¢panY limited by guarantee. not having a shaTe capital) DIRECTORS. ANNUAL REPORT for the financial year ended 31 August 2023 Financial Review From incorporation As're has been successful at raising enough funds to cover rts running costs. The purpose of Aspire is not to be a prOfft-rnaing company, however ff( must remain sustsinable in order to function and continue to aid the Children in need. Reserves lIcY - the aim is to achieve a level of unrestricted free reserves equivalent to six months running costs. which the trustees believe is essential to the ongoing wotk of the charity. Financial Results At the end of the financial year the company has assets of £48,086 {2022 - £39.070) and liabilit'tes of £766 (2022 - £5,664). The net assets of the company have increased by £13.914. Public Benefft The direct benefits which flow from our purposes include improvement in the %Yellbeing. self-esteem and opportunities for children from a lower income background. These beneffts are demonstrated through our feedback from the children and their educational resufts. These purposes does not lead to harm. The charity's beneficiaries are the children from lower income families. The Charity has given careful consideration to the Charty Commission for Northern Ireland's guidance on put4ic benefft to ensure that the achviiies entered into during the year have helped to achieve the organisation's objectives and activities, as well as providing public benefit DirectOTS The current directors are as set out on page 3 and Carol Litde David McBride David Wylie lan Bingham LeonardAdamson Megan Collins Jamie Curran - resigned 3151 October 2023 In accordance wth the Arttdes of Association, the directors retire by rotation and, being eligitle. offer themselves for re-election. Compliance with Sector-wide Legislation and Standards The company engages pro-actively legislation. stsndards and codes which are developed for the seGtor. Aspire {N.l.) subscribes to and is comF4iantwth the followng". The Companies Act 2006 The Charities SORP {FRS 102) Approved by the Board of DiTector5 on 13th December 2023 and signed on Its behalf by: Leonard Adamson Director
Aspire (N.1.) (A company limited by guarantee, not having a share Cats1) STATEMENT OF DIRECTORS. RESPONSIBILITIES for the )Inancial year ended 31 August 2023 The directors are reswnsible for preparing the financial statements in accordance th apICab[e law and regulations. Company law requires the (rectors to prepare finanual statements for each financial year. Under that law the directors have elected to prepare the financial ststements in accordance th United Kingdom Generally Accepted Accounling Prath'ce (United lQngdom Accounting Stsndards and applicable law) including FRS102 "The Financial Reporting Standard appliCae in the UK and Republic of Ireland" Under company law the directo must not approve the finanaal statements unless they are satisfied that they give a true and fair view of the stste of affairs of the company and ofthe net income or expenLture of the company forthat period. In preparing these financial statements. the directors are required to- sele¢t suitable accounting polic4es and apFAy them consistenuy.. make judgements and estimates that are reasonaFAe and prudent stste whether the financial statements have been Prepared in accordance vrith the relevant financial reporting framework, identsfy those standards. and note the effect and the reasons for any material departure from those stsndards.. and prepare the financial ststements on the going concem basis unless it is inappropriate to presume that the company will continue in operation. The directo confirm that they have comr4ied Imth the above requirements in preparing the financial statements. The directors are responsible for keeptng adequate accounting records that are suffictent to show and exklain the company's transactions and disclose with reasonable accuracy at any time the financial posits'on of the company and enable them to ensure that the financial statements compty with. They are also responsitAe for safeguarrfing the assets of the company and hence for ta"ng reasonable ster6 for the wevenb'on and detection of fraud and othei irregularities. Approved by the Board of Directors on 13th December 2023 and signed on its behalf by: Leonard Adamson Dlrector
Aspire (N.1.) IA company Ilmlted by guaranteè, not having a sharè capitsll INDEPENDENT EXAMINER'S REPORT TO THE BOARD OF DIRECTORS OF ASPIRE (N.I.) We have examined the financial slalemenls of the company for the financial year ended 31 August 2023. which comprise the Slalement of Financial Activities lincorporating an Income and Expenditure Accounll, the Balance Sheet and the related notes. Respectlve responslbilltles of directors and examiner The company's trustees (who are also the directors of the company for the purposes of company law) are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006. The company's directors consider that an audit is not required for this financial year under Chapter 3 of Part 16 of the Companies Act 2006 and that an independent examination is required. It is our responsibility to.. examine the finanaal slalements Lsnder section 65 of the Charities Act.. follow the procedures laid down by the general Directions given by the Charity Commission for Northern Ireland under section 65191{bl of the Charib'es Act., and state whether particular matters have come lo our attention. Basis of independent examiner's report We have examined your company financial slalemenls as required under section 65 of the Charities Act and our examination was carried out in accordance with the general Directions given by the Chawity Commission for Northern Ireland under section 6519llbl of the Charities Act. An examination includes a review of the accountin9 records kept by the company and a comparison of the ffnancial statements presented with those records. It also includes consideration of any unusual items or disclosures in the financial statements and seeking explanations from the directors concerning any such mallers. The procedures undertaken do not provide all the eviden that would be required in an audit and consequently no opinion is given as lo whether the accounts present a 'lrue and fairf view and the report is limited to those matters sel out in the statement below. In connection with our examination. no matter has come to our attention which gives us cause to believe that in. any material respect.. accounting records were not kept in accordance with section 386 of the Companies Act 2006 the financial statements do not accord with those accounting records the financial statements have not been prepared in accordance with the accounting requirements of section 396 of the Companies Act 2006 and with the methods and principles of the Statement of Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS1021 there is further infornalion needed for a proper understanding of the accounts to be reached. Independent examlner's statement We have no concerns and have come across no other matters in connection with the examination lo which attention shoul be drawn in this report in order to enable a proper understanding of the financial statements to be leached. Ruairi Magi DALY PAR COMPANY LTD CharteTed A countsnls 4 Carnegie Street Lurgan Amiagh 8T66 6AS Date: 13th D¢¢omber 2023
Aspire (N.1.) IA company limited by guarant8e. not havlng a sharo capltas) STATEMENT OF FINANCIAL ACTIVITIES Ilncorporating an Income and Expendlture Account} for the financial year ended 31 August 2023 Unrestricted Restrlcted Funts Funds 2023 2023 Totsl Unrestricted Reslricled Funds Funds 2022 2022 Total 2023 2022 Notes Incoming Resources Voluntary Income Activities for generating funds 102,IM3 11,266 47.400 149.443 11,266 96,299 23,384 18,155 114,454 23.384 Total incoming resources 113,309 47.400 160.709 119.683 18.155 137,838 Resources Expended Charitsble a¢livities 119.136 27,660 146.796 104,545 15,744 120,289 Net incomingloutgoing resources before transfers Gross transfers beeen funds (5.827) 19,740 13,913 15.138 2.411 17,549 Net movement in funds for the financial year (5,8271 19,740 13,913 15.138 2.411 17549 Reconciliation of funds Balances broughtforward at 1 September 2022 12 21.779 11.628 33.407 6,641 9,217 15,858 8alan¢e$ carried forward at 31 August 2023 15.952 31.368 47.320 21,779 11,628 33,407 The Ststemenl of Financial Aelimlies includes all gains and losses recognised in the financial year. All income and expenditure relate to continuin9 activities. The note5 on pages 10 to 13 form part ofthe finanaal st2ternents
Aspire (N.1.) company limited by guarnntee. not having a share tapilall Company Number: N1639811 BALANCE SHEET as at 31 August 2023 2023 2022 Notes Current Assets stocks Debtors Cash at bank and in hand 8T1 5,963 41,246 1.264 4,472 33,334 48,086 39,070 Creditors: Amounts falling duewithin one year 10 (766) (5,663) Net Current Assets 47,320 33,407 Total Assets less CuTrent Liabilities 47,320 33,407 Funds Restricted trust funds General fund lunTestricted) 31.368 15.952 11,628 21,779 Total funds 12 47.320 33,407 These financial statements have been prepared in accordance wth the special provisions relating to small companies within Part 15 of the Companies Act 2006. For the financial year ended 31 August 2023 the company was entitled to exempts'on from audt under section 477 of the Companies Act 2006.. and no notice has been deposited under section 476. The directors confirm that the members have not required the company to obtsin an audit of its financial statements for the financial year in question in accordance wth section 476 of the Companies Act 2006. The directors aCknOedge their restx)nsibilities for ensuring that the company keeps accounting records which comply with section 386 and for preparing financial statements which gtve a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit and loss for the financial year in accordance wth the requirements of sections 394 and 395 and which othetSe comply vath the requirements of the Companies Act 2006 relating to financral statements. so far as apF4icat4e to the company. The financial ststements have been prepared in accordance yth the provisions applicatAe to companies subject to the small companies. regime and in accordance with FRS 102 "The Financial Reporbng Standard apFJi(xtle in the UK and Reput4ic of Ireland" applying Section 1A of that Standard. Approved by the Board of Directors and authorised for issue on 13th December 2023 and slgned on its behalf by Leonard Adamson Dlrector The notes on page5 10t0 13 form part ofthe ffinanaal statements 10
Aspire {N.l.) IA company limited by guarantee. not having a share capitsri NOTES TO THE FINANCIAL STATEMENTS for the financial year ended 31 August 2023 GENERAL INFORMATION Aspire {N.l.l is a company limited by guarantee incorporated in Northern Ireland. The registered office of the company is 23a Castle Lane. Lurgan, Craigavon, Co. Aagh. BT67 9BD. Northern Ireland which is also the principal place of business of the eompany The financial statements have been presented in Pound Stefling {£) which is also the functional curren¢y of the company. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The following aceounling policies have been applied consistently in dealing with items which are eonsidered material in relation lo the charity's financial statements. Basis of preparation The finaneial statements have been prepared under the historical cost convention. modified to include rtain items at fair value. The financial statements have been prepared in accordance with the Statement of Recommended Practice (SORPI "Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland FRS 102" As permitted by the Companies Act 2006, the Company has varied the stsndard formals in that act for the Slalement of Financial Activities and the Balan Sheet. Departures from the standard formals are lo comply with the requirements of the Charities SORP and are in compliance with section 4.7, 10.6 and 15.2 of that SORP. Statement of compliancg The financial statements of the company for the financial year ended 31 December 2017 have been prepared on the going conrn basis and in accordance with the Stslemenl of Recommended Practice ISORPI "Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland FRS 102" Cash flow statement The company has availed of the exemption in FRS 102 from the requirement to produ a cash flow slalement because it is classified as a small company. Incoming Resources Voluntary income or capital is included in the Statement of Financial Activities when the company is legally enlilled lo it, ils financial value can be quantified with reasonable eertainty and there is reasonable certainty of ils ultimate receipt. Enlillement to legacies is considered established when the eompany has been notrfied of a distribution lo be made by the executors. Income received in advance of due perfomiance under a contract is accounted foi as deferred income until earned. Grants for activities are recognised as income when the related conditions for legal entitlement have been met. All other irteome 15 aceounled for on an accruals basis. Resourees Expended Atl reSoUrS expended are accounted for on an accrnals basis. Charitable activities include costs of services and grants. support costs and depreciation on related assets. Costs of generating funds similarly include fundraising aclivilies. Non-staff costs not attributed lo one tegory of activity are allocated or apportioned pro-rata to the staffing of the relevant senrice. Finan, HR, IT and administrative staff costs are directly attributable lo individual activities by objective. Govemance costs are those associated with constitutional and stalulory requirements. Reserves policy Aspire Nl will aim to hold up to 6 months running expenses al year end in order to have a reserve if incoming resources fall for any unsuspe¢ted rea50n. 11
Aspire {N.l.) IA company limited by guarantee, not having a sharo capltall NOTES TO THE FINANCIAL STATEMENTS ontinued for the financial year ended 31 August 2023 Debtors Debtors are recognised al the settlement amount due after any discount offered. Prepayments are valued al the amount prepaid nel of any trade discounts due. Income recognised by the company from government agencies and other Co-funders, bul not yet received al year end. is included in debtors. Cash at bank and In hand Cash at bank and in hand comprises cash on deposit at banks requiring less than three month$ noti¢e of withdrawal. Taxation and defgrrgd taxation No current or deferred taxation arises as the company has been granted charitable exemption. Irrecoverable valued added tax is expensed as IncUrd. Deferred lax is recognised in respect of all liming differences that have originated bul not reversed at the balance sheet dale where transactions or events have occurred at that date that will result in an obligation lo pay more lax in the future, or a right lo pay less lax in the future. Timing dIfferenS are temporary differences beeen the company's taxable income and its results as stated in the financial statements. Deferred tax is measured on an undiscounled basis al the lax rates that are anticipated lo apply in the periods in whieh the liming drfferences are expected lo reverse. based on lax rates and laws that have been enacted or substsnlively enacted by the balance sheet date. PERIOD OF FINANCIAL STATEMENTS The comparative figures relate to the year ended 31 August 2022. INCOME DONATIONS AND LEGACIES Unrestricted Restricted Funds Funds 2023 2022 Voluntary Income 102,043 47.400 149.443 114.454 OTHER TRADING ACTIVITIES Unrestrlcted Restrlcted Funds Funds 2023 2022 Activities to Generate Funds 11.266 11,266 23.384 EXPENDITURE CHARITABLE ACTIVITIES Dlrect Costs other Costs Support Costs 2023 2022 Cost of Charitable Activities 145,238 1.558 146,796 120.289 12
Aspire (N.1.) IA company limited by guarantee, not havlng a shar• eapitsll NOTES TO THE FINANCIAL STATEMENTS continued for the financial year ended 31 August 2023 ANALYSIS OF SUPPORT COSTS 2023 2022 Bank Fees Legal & Professional 852 648 700 1,558 1,500 EMPLOYEES AND REMUNERATION The staff costs comprise.. 2023 2022 Wages and salaries Pension costs 112,037 2,084 83,489 1.592 114,121 85.081 STOCKS 2023 2022 Finished goods and goods for resale 877 1.264 DEBTORS 2023 2022 Other debtors- Ghft Prepayments and accrued income 5.223 740 3,815 657 5,963 4.472 10. CREDITORS Amounts falling due wlthln one year 2023 2022 Trade creditors Taxation and social security costs Accruals and deferred income Isoo) 823 5.664 766 5,664 11. RESERVES 2023 2022 At 1 September 2022 Surplus for the financial year 33.407 13,913 15,858 17,549 At 31 August 2023 47,320 33,407 13
Aspire (N.1.) IA company limitèd by guaranteÈ. not havtng a share capEtall NOTES TO THE FINANCIAL STATEMENTS continued for the financial year ended 31 August 2023 12. FUNDS 12.1 RECONCILIATION OF MOVEMENT IN FUNDS Unr9$tricted Restricted Funds Funds Total Funds At 1 September 2022 Movernenl durtng the financ¢al year 9,217 {841 15.857 17,549 17.633 Al 31 August 2022 Movement during the financial year 21.779 (5.827) 11.628 19.740 33,407 13,913 At 31 August 2023 15.952 31.368 47,320 12.2 ANALYSIS OF MOVEMENTS ON FUNDS Balance 1 Sgptgmber 2022 Income Expenditure Transfe beeen funds Balance 31 August 2023 Restricted funds T-Bu¢ Grant Community Foundation Nl All Churches Trust Education Authority The Ireland Funds Take500+ LFT Foundation KFC Foundation Bentley Allen & Overy Foundation Galeley PLC 5.177 951 3.000 5.177 951 3.000 12,000 28,897 5.000 1,000 4,639 2.050 16.897 5,000 1.000 4.639 100 1,950 5.334 1.707 2,500 793 11,628 47,400 27,660 31,368 Unrestricted funds General UnreslriGled Fund 21,779 113.309 119.136 15,952 Total fvn<ts 33,407 160.709 146,796 47,320 13. STATUS The company is limited by guarantee not having a share capital. The liability of the members is limited. Every member of the eompany undertakes to contribute lo the assets of the company in the event of its belng wound up while they are members. or within one year thereafter, for the payment of the debts and li8bililie$ of the company ¢ontra¢led before they ceased lo be members. and the costs, charges and expense5 of winding up. and for the adjuslmenl of the rights of the contributors among themselves, such amount as may be required, not exceeding £ 1. POST-BALANCE SHEET EVENTS There have been no significant events affe¢ling the Charity since the financial year*nd. 15. INDEPENDENT EXAMINER'S REMUNERATION The independent examinerfs remuneration amounts to an independent examination fee of £60012022- £600)- 14