Company Reglstratlon Number.. N1639811 Charity Number: 107570 taspire Aspire {N.l.) (A company Ilmltad by guardnte•, not havlng a sharè ¢apitsll Annual Report and Unaudited Financial Statements for the financial year ended 31 August 2024 Daly Park & Company Ltd Chartered Accountants 4 Carnegie Street Lurgan Northern Ireland BT66 6AS United Kingdom
Aspire (N.1.) (A company limited by guarantee. not having a share capltall CONTENTS Page Dire¢tors' and Olher Information Directors, Annual Report Statement of Directors, Responsibilities Independent Examinels Report Statement of Financial Adivities Balance Sheet 10 Notes to the Financial Statements
Aspire (N.1.) IA cornpany Ilmlted by guarantee, not havlng a share eapltall DIRECTORS. AND OTHER INFORMATION Dlrectors Carol Little David M¢Brrde David Wylie lan Bingham Leonard Adamson Megan Collins Jamie Curran {Resigned 31 October 2023) Charlty Number in Northern Ireland 107570 Company Reglstration Number N1639811 Reglstered Office and Prin¢ipal Address 23a Castle Lane Lurgan Craigavon Co. Armagh BT67 9BD Northern Ireland Independent Examingr Daly Park & Company Ltd Chartered Accountants 4 Carnegie Street Lurgan Northern Ireland 8T66 6AS United Kingdom Prlncipal Bankers AIB 18-20 Scotch Street Dungannon Co Tyrone BTIO 1A2 Northern Ireland
Aspire {N.l.) (A company limlted by guarnnteè. not having a share ¢apitall DIRECTORS. ANNUAL REPORT for the financial year ended 31 August 2024 The directors present their Directors, Annual Report. combining the Directors, Report and Trustees. Report, and the unaudrted financial statements for the financial year ended 31 August 2024. The financial statements are prepared in a¢eordance with the Companies Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and Aeeounling and Reporting by Charities.. Statement of Recommended Practice applicable lo charities preparing their financial slalements in accordance with the Financi81 Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021. The Directors, Report ¢onlains the infornalion required lo be provided in the Directors, Annual Report under the Statement of Recommended Pra¢li* ISORPI guidelines. The directors of the company are also charity trustees 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.) present a summary of its purpose, governan, activities, achievements and finances for the financial financial year 31 August 2024. The company is a registered charity and hence the report and results are presented in a fom which complies with the requirements of the Companies Act 2006 and. although not obliged to comply with the Slalemenl of Recommended Pracliee applicable in the UK and Republic of Ireland FRS 102. the organisalion has implemented ils recommendations where relevant in these financial statements. Mission, Objo¢tiv•$ and Stratsgy Mission Statement Aspire INI} exists lo deliver on its principal activity lo work with children in Northern Ireland in povety to help close the educational gap between the rieh and poor. We are a faith driven charity based in Craigavon. Northern Ireland that work with local youth workers and churches to provide free services for children from lower income families to support and equip them in education. Our work with schools and relevant agencies ensure that we aim to.. 1. Provide relationships that enable young people to recognise their skills and full potential. 2. Provtde facilitators to encourage young people in education and help them lo take ownership of their ¢)wn education. 3. Help those from lower income families by providing free tuition services 4. Help young people lo learn outside of the classroom by providing fun based edUtional a¢tivilie$ outside of school hours 5. Give young people the opportunity lo explore faith. Aspire Sessions These offer a place for young people to work in a supervised and supportive environment after school. We provide facilitators who encourage the young people and provide them with support. The facilitstors are youth workers from local churches or organisations. Our young people are provided with laptops. resource5, and refreshment$. Aspire Tuition For young people who lake part in our after-school sessions who are struggling with any subjects, Aspire will endeavour to link this young person to a suitable tutor from our bank of volunteers who are qualified in this $ubje¢t and provide a period of free tuition. Aspire Activities Eduction is not just what happens in the classroom but can be fun too. Aspire activities are monthly aetivilies for young people run by local churches and youth groups where leaming is combined with leisure such as sport or music lessons. Structure, Governan¢e and Managoment Structure Aspire INI) is a Company limil8d by guarantee and registered with Companies House under the refeTence Nl 639811. The organisation is also a Registered Charity under the reference NIC107570 with The Charity Cornmis$ion of Northern Ireland. Aspire INI) is governed by ils Memorandum and Articlgs of Association and controlled by its Trustees. The day to day management of the charity on behalf of the Trustees is undertaken by MaTk Krtox. Trustees are appointed and retire in accordan wrth the ¢harity5 governing document with all new Trustees undergo an induction and initial training on their role and responsibilities.
Aspire (N.1.) IA company Ilmitsd by guarantee. not having a share capltall DIRECTORS. ANNUAL REPORT for the financial year ended 31 August 2024 Review of Activities, Achievements and Performance 202312024 has been another exciting year for Aspire. We continue to grow and expand our reach. building on the su¢¢ess of previous yeaTS. Aspire now works in 27 schools, providing vital support lo young people across Craigavon, Belfast. and beyond. This year. we ran 10 aeademies, covering areas such as art, business. youth work, music production. and more. These aeademies provided essential training and inspiration for secondary-age children while also engaging primary-age children in foundational programs. Y• Lll We held our largesl*ver croswommunity camp, bringing together almost 50 young people at the Crawfordsburn Scout Centre. The camp featured a rich program of aclivtlies. including sports, workshops. and leadership development, all focused on fostering understanding and connection across different backgrounds. ASPI,$ uniforni exchange program and back-t(kschool events remain key parts of our outreach, providing practical support to families in need across Craigavon and Belfast. We have also continued lo develop meaningful partnerships with businesses, working alongside organizalions such as Galey Legal and Allen & Overy Sherman. These partnerships allow us lo further our mission and provide greater ¢pportunilies for the young people we support. We are grateful for the ongoing financial support from KFC, LFT Trust. and others, including dormant account funding that remain$ cornerstone of oui work. We are proud of the sUe$S of our young people, with 87% of GCSE-age participants achieving 5 or more GCSES at grades A".C-an improvement that reflects the hard work and dedicalion of both our team and the young people themselves. Aspire has once again proven that with the right SLtpport. young people ¢an thrive in school, in their communities. and beyond. Financial R9view The financial results for the current year a detailed in the Statement of Financial Activities and Balance Sheet. The organisalion has been able to secure additional funding in the 2024 financial year from various sources, which has helped il expand ils operations and lake on more stsff. Total income for the year was in excess of £200,000, an incTease of almost 25%. Total expenditure also increas8d accordingly in the year to approximately £197.00012023 approx £145,000). An overall surplus of £762 is shown for the year. Financial Results Al the end of the financial year the company has assets of £49,91512023 - £48.0861 and liabilities of £1,833 {2023 - £766}. The net assets of the company have increased by £762.
Aspire {N.l.) IA company limited by guarantee, not havlng a share capltall DIRECTORS, ANNUAL REPORT for the financial year ended 31 August 2024 Reserves Position and Policy From incorporation Aspi has been Sucsful at raising sufficient funds to support its running costs. The purpose of Aspire is not to be a profit making company, however it must remain sustainable in order to function and continue to aid the Children in need. The aim is to achieve a level of unrestricted free reserves equivalent to six months running costs, which the trustees believe is essential to maintain the stability of the organisation and continue to meet its aims and objectives. Reference and Administratlve detslls Public Benefit The Charity has given careful consideration to the Charity Commission for Northem Ireland's guidan on public benefit to ensure that the activities entered into during the year have helped to achieve the organisation's objectives and activities, as well as prowding public benefit. The direct benefits which flow from our purposes include improvement in the wellbeing, self*steem and opportunities for children from a lower income background. These benefits a demonstrated through our feedback from the children and their educational results. These purposes does not lead to harm. The charity's benefi¢iaries are the chIldn from lower income families. Directors The current d1ClorS are as set out on page 3 Carol Little David McBride David Wylie lan Bingham Leonard Adarn50n Megan Collins Jamie Curran {Resigned 31 October 20231 In accordan with the Articles of Association. the directors retire by rotation and. being eligible. offer themselves for re•election. Compliance with Se¢tor-Wide Legislation and Standards The company engages pro-acbvely with legislation. standards and codes which are developed for the sector. Aspire {N.l.I subscribes to and is compliant with the following.. The Companies Act 2006 The Charities SORP IFRS 102) Approved by tho Board of Directors on 2 and signed on its behalf by: Leonard Adamson Dire¢tor
Aspire {N.l.) {A company limited by guarantee, not havlng a shar8 capllall STATEMENT OF DIRECTORS. RESPONSIBILITIES for the financial year ended 31 August 2024 The directors are responsible for preparing the financial statements in accordance with applicable law and regulations. Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Acceptèd Accounting Practice (United Kingdom Accounting Standards and applicable lawl including FRS102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and of the net income or expenditure of the company for that period. In preparing these financial statements. the directors are required to.. select suitable accounting policies and apply them consistently.. make judgements and estimates that are reasonable and prudent.. state whether the financial statements have been prepared in accordan with the relevant financial reporting framework, identify those standards. and note the effect and the reasons lor any material departure from those standards., and prepare the financial statements on the going concern basis unless it is inappropriate to prèsume that Ihe company will continue in operation. The directors confimi that they have complied with the above requirements in preparing the financial statements. The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial posltion of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Approved by the Board of Directors on 28 2S and signed on its behalf by: Leonard Adams Director
Aspire (N.1.) IA Company limitèd by 9uarantee. not having a share capltall INDEPENDENT EXAMINER'S REPORT TO THE BOARD OF DIRECTORS OF ASPIRE (N.I.) We have examined the financial statements of the company for the financlal year ended 31 August 2024. which comprise the Statement of Financial Activities {incoiporaling an Income and Expenditure A¢counll. the Balance Sheet and the related notes. Respective responsibilities of directors and examiner The company's Iruslees (who are also the directors of the company for the purposes of company lawl are responsible for the preparation of the financial slalements in accordan¢e with the requirements of the Companies Act 2006. The company's directors consider that an audit is not required for this fin8nci81 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 financial slalements under 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{b) of the Charities Act.. and slate whether particular matters have corne lo our attention. Basis of Indepondgnt examiner's report We have examined your Company financial statements as required under section 65 of the Charities Act and our examination was carried out in accordance with the general Directions given by the Charity Commission for Northern Ireland under se¢lion 6519llb) of the Charities Act. An examination includes a review of the accounting records kept by the company and a comparison of the financial statements presented with those records. 11 also includes consideration of any unusual items or disclosures in the financial statements and seeking explanations from the directors concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as lo whether the accounts ptesent a 'true and fairf view and the report is limited lo those matters set out in the statement below. In connection with our examination. no matter ha$ ¢ome lo our attention which gives us cause to believe that in, any material respect- accounting records were not kept in accordan with section 386 of the Companies Act 2006 the financial slalemenls do not accord with those accounting records the financial statements have not been prepared in accoidance 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 to charities preparing their accounts in aceordanee with the Financial Repgrting Standard applicable in the UK and Republic of Ireland {FRS1021 there is further infomialion needed for a proper understanding of the accounts lo be reached. Independent examiner's ststement We have no concerns an ve come across no other matters in connection with the examination to which attention sho be wn in this r in order to enable a proper understanding of the financial stalemenl$ to be reached. DAL Cha RK & COMPANY LTD ed Accounlanls egie Street Lurgan Northern Ireland BT66 6AS United Kingdom
Aspire (N.1.) IA company Ilmltèd by guarantee, not having a sharo capltal} STATEMENT OF FINANCIAL ACTIVITIES Ilncorporatlng an Incorne and Expenditure Account) for the financial year ended 31 August 2024 Unrestricted Restrlcted Funds Funds 2024 2024 Total Unrestricted Restricted Funds Funds Funds 2024 2023 2023 Total Funds 2023 Notes Incoming Resources Voluntary Income Activities for generating funds 100,315 13,959 90,258 190,573 13.959 102,043 11.266 47,400 149.443 11.266 Total Incomlng resources 114.274 90.258 204,532 113,309 47.400 160,709 Resources Expend•d Charitsble activities 129,266 74,504 203.770 119,136 27.660 146.796 Net Incomlngloutgolng resources before transfers {14.992) 15,754 762 {5,8271 19,740 13,913 Gross transfers beeen fvnds Net movement in funds for the financial year 114.992) 15,754 762 {5.8271 19.740 13.913 Reconciliation of funds: Total funds beginning of the year 12 15,952 31,368 47,320 21,779 11,628 33.407 Total funds at the end of the year 960 47,122 48,082 15,952 31,368 47.320 The Slalement of Financral A¢tivities includes all gains and losses recognised in the financial year. Ail income and expenditure relate to continLting activities. The notes on pages 11 to 14 fom part ofthe finanoal statements
Aspire {N.l.) IA company Ilmltod by guarantse. not having a share capital) Company Number: N1639811 BALANCE SHEET as at 31 August 2024 2024 2023 Nots$ Currènt Assets Stocks Debtors Cash at bank and in hand 1,577 5,724 42,614 877 5,963 41,246 49,915 48,086 Creditors: Amounts falling due withln one year 10 {1,833) 17661 Net Current Assets 48,082 47,320 Totsl Assets less Current Liabilities 48,082 47,320 Funds Restricted trust funds General fund (unrestricted) 47.122 960 31.388 15,952 Totsl funds 12 48.082 47.320 These financial statemenls have been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006. For the financial year ended 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006., and no notice has been deposited under section 476. The directors confiTh that the members have not required the company to obtain an audit of ils financial statements for the financial year in question in accordance with section 476 of the Companies Act 2008. The directors acknOedge their responsibilities for ensuring that the company keeps accounting records which comply with section 386 and for preparing financial statements which give 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 foi the financial year in accordan with the requirements of sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, $0 far as applicable to the company. Approved by the Board of Directors and authorised for issue on 23 behalf by and signed on its Leonard Adamson Director The notes on pages 1110 14 form part of the financial statements 10
Aspire (N.1.) IA company limlted by guarantÈ•. not having a share capital) NOTES TO THE FINANCIAL STATEMENTS for the financial year ended 31 August 2024 GENERAL INFORMATION Aspire (N.l.l is a company limited by guarantee incorporated in Northem Ireland. The registered office of the company is 23a Castle Lane. Lurgan. Craigavon. Co. Amiagh, BT67 9BD, Northern Ireland which is also the principal place of business of the company The financial statements have been presented in Pound 1£) which is also the functional curren¢y of the company. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The following accounting policies have been applied consistently in dealing with items which ate considered material in relation lo the charity's financial statements. Basis of preparatlon The financial statements have been prepared under the historical cost nventiOn, modified to include certain items al fair value. The financial ststements have been prepared in accordanee with the Slalement of Recommended Practice ISORPI "Aecounling and Reporting by Charities preparing their accounts in accordanee with the Financial Reporting Standard applicable in the UK and Republic of Ireland FRS 102" As pemiitted by the Companies Act 2006, the company has varied the standard formats in that act foi the Slalement of Financial Activities and the Balance Sheet. Departures from the standard fomials 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 compliance The financial statements of the company for the financial year ended 31 December 2017 have been prepared on the going conr basis and in accordance with the Ststement 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 quirement lo produce a cash flow statement because il 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, its financial value can be quantified with reasonable certainty and there is reasonable certainty of its ultimate receipt. Entitlement lo legacies is considered established when the company has been notified of a distTibution to be made by the executors. Income reiVed in advance of due perfomiance under a contract is accounted for as defetred income until earned. Grants for activities are recognised as income when the lated conditions for legal entitlement have been met. All other in¢ome 1$ a¢¢ounted for on an accruals basis. Resources Expended All resources expended are accounted for on an accruals 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-slaff costs not attributed to one category of activity are allocated or apportioned pro-rata lo the staffing of the relevant service. Finance, HR. IT and adminislralive staff costs are directly attributable to individual activities by objective. Governance cos15 are those associated with conslilulional and statutory requirements. Reserves policy Aspire Nl will aim to hold up to 6 months running expenses at year end in order to have a reserve rf incoming resources fall for any unsuspeded reason. Debtors Debtors a cOgnised at the settlement amount due after any d¢scount offered. Prepayments are valued at the amounl prepaid net of any trad8 discounts du8. Income recognised by the company from government agencies and other co-funders, but not yet received at year end, is inciuded in debtors. Cash at bank and in hand Cash at bank and in hand comprises cash on deposll at banks requiring less than the months notice of withdrawal. 11
continued Aspire (N.1.) IA company Ilmitèd by 9uarantee. not havlng a share capital) NOTES TO THE FINANCIAL STATEMENTS for the financial year ended 31 August 2024 Taxation and deferred taxatlon No current or deferred laxalion arises as the company has been granted charitable exemption. Irrecoverable valued added lax is expensed as incuired. Deferred lax is recognised in respect of all timing dIfferenS that have originated bul not revetsed al th8 balance sheet date where transactions or events have occurred al that dale that will result in an obligation to pay more tax in the future. or a right to pay les$ lax in the future. Timing differences are tsmporary differences beeen the company's taxable income and its results as staled in the financial slalemenls. Deferred tax is measured on an uftdiscounted basis at the tsx rates that are anticipated lo apply in the periods in which the timing differences are expected to reverse, ba$ed on tsx rates and laws that have been enacted or substantively enacted by the balance sheet dale. PERIOD OF FINANCIAL STATEMENTS The comparative figures relate to the 12 month period ended 31 August 2023. INCOME DONATIONS AND LEGACIES Unrestrlcted Restrlcted Funds Funds 2024 2023 Voluntary Income 100.315 90.258 190.573 149.443 OTHER TRADING ACTIVITIES Unrestricted Restricted Funds Funds 2024 2023 Activities to Generate Funds 13,959 13,959 11,266 EXPENDITURE CHARITABLE ACTIVITIES Direct Costs Support Costs 2024 2023 Cost of Charitable Activities 202,021 1,749 203.770 146,796 ANALYSIS OF SUPPORT COSTS 2024 2023 Bank Fees Accountancy Fees 969 780 858 700 1,749 1,558 EMPLOYEES AND REMUNERATION The Stsff costs comprise.. 2024 2023 Wages and salaries Pension costs 161.035 3,169 112.037 2.084 164,204 114,121 12
continued Aspire (N.1.) IA Company limitèd by guarantee, not havlng a share capitsll NOTES TO THE FINANCIAL STATEMENTS for the financial year ended 31 August 2024 STOCKS 2024 2023 Flnished goods and goods for resale 1,577 877 DE8TORS 2024 2023 Other debtors Prepayments and accrued income 5,724 5,223 740 5.724 5.963 10. CREDITORS Amounts falling due within one year 2024 2023 Bank overdrafts Trade creditors Taxation and social security costs Accruals and deferred income 166 {5001 443 823 637 1,030 1.833 766 11. RESERVES 2024 2023 Al the beginning of the year Surplus for the financial year 47.320 762 33.406 13,914 At the end of the year 48.082 47,320 12. FUNDS 12.1 RECONCILIATION OF MOVEMENT IN FUNDS Unrestricted Restricted Funds Funds Total Funds At 1 September 2022 Movement during the firtan¢ial year 21,779 15.827) 11.628 19,740 33.407 13,913 At 31 August 2023 Movement during the financial year 15,952 114.9921 31,368 15.754 47.320 762 At 31 August 2024 960 47,122 48,082 13
continued Aspire (N.1.) {A cornpany limited by guaranto0, not having a share capital NOTES TO THE FINANCIAL STATEMENTS for the financial year ended 31 August 2024 12.2 ANALYSIS OF MOVEMENTS ON FUNDS Balancg 1 September 2023 Income Expenditure Transfers between funds Balance 31 August 2024 Restrict funds Halrfax Foundation Education Authority The Ireland Funds LFT Foundation KFC Foundation Bentley Allen & Overy Foundation Galeley PLC Dormant Accounts Nl The National Lottery Community Fund Garfield Weston Foundatron The Victoria Homes Trust The Angus Lawson Memorial Trust 5.000 17,000 1.000 16,897 5,000 4,638 4,650 480 5.334 1,707 18,452 4,000 17.000 16,897 5.000 4.638 2,700 1,950 480 5,334 1.707 25,333 6.881 15.000 2,315 18.272 14.031 2,315 969 18,272 31,368 90.258 74,504 47.122 Unrestrictgd funds General Unreslri¢led Fund 15.952 114.274 129.286 960 Total funds 47,320 204,532 203,770 48.082 13. STATUS The Company is limited by gltarantee not having a Sha capitsl. The liability of the members is limited. Every member of the company undertakes lo contribute lo the assets of the company in the event of 11$ being wound up while they are members, or within one year thereafter. for the payment of the debts and liabilities of the Company contracted before they aSed to be members. and the costs. charges and expenses of winding up, and for the adjustment of the rights of the contributors among themselves, such amount as may be required, not exceeding £ 1. 14. POST-BALANCE SHEET EVENTS The have been no significant events affecting the Charity Sin the financial year-end. 15. TRUSTEE REMUNERATION None of the Trustees reiVed nor waived any kind of remuneration for their services as Trustees during the current or previous financial year. 16. INDEPENDENT EXAMINER FEES The Indop8ndent Examiner was paid a fee of £780 in relation to their work for the 2024 finan¢ial year (2023 £6001. 14