OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2024-05-31-accounts

Charity registration number NIC107729

Company registration number NI661878 (Northern Ireland)

THE GAITWAY ORGANISATION

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2024

THE GAITWAY ORGANISATION

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees

Mr A Elliott Mrs R Elliott Mrs C Butler Mrs T Andrew Mr H A Withers

Secretary

Secretary Mrs T Andrew Charity number NIC107729 Company number NI661878 Registered office 35 Belfast Road Antrim BT41 1PB Independent Examiner Mrs C Corrigan Corrigan CA Limited 24 Greystone Road Antrim N Ireland BT41 2QN

(Appointed 23 August 2023) (Appointed 13 February 2024)

THE GAITWAY ORGANISATION

CONTENTS

Page
Trustees' report 1 - 5
Independent examiner's report 7
Statement of financial activities 8
Balance sheet 9
Notes to the financial statements 10 - 16

THE GAITWAY ORGANISATION

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 MAY 2024

The directors, who are also trustees present their annual report and financial statements for the year ended 31 May 2024.

The trustees have adopted the provision of the Companies Act 2006 and Accounting and Reporting by Charities: Statement of Recommended Practice applicable in the UK and Ireland (FRS 102) (effective 1 January 2015) in preparing the annual report and financial statements for the charity.

Reference and administrative details

Registered Office: 35 Belfast Road, Antrim, BT41 1PS

Independent Examiner: Aidan Corrigan, ACA, Corrigan CA Limited, 24 Greystone Road, Antrim, BT41 2QN

Objectives and activities

The principal activity of the company is the provision of increased access to specialist therapy not generally available to children and young people in Ireland.

The Charities (Accounts and Reports) Regulations (Northern Ireland) 2015 requires organisations to meet two criteria i.e. 'Charitable Purpose' and 'Public Benefit'. In relation to the 'charitable purpose' the Memorandum and Articles of Association of the Gaitway Organisation states that the organisation meets a number of the charitable purposes as set out in the regulations i.e. 'the prevention or relief of poverty, the advancement of health or the saving of lives' and 'the relief of those in need by reason of youth, age, ill-health, disability, financial hardship or other disadvantage'. The Gaitway Organisation meets the public benefit test, as the organisation provides services, which can be accessed by members of the public who are in need of such services. The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the Gaitway Organisation should undertake.

THE GAITWAY ORGANISATION

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MAY 2024

Achievements and performance

Significant activities and achievements against

This year our operational goal was to continue to offer a four week Summer scheme along with week long programs on the Halloween break and the February Midterm Break.

Again our programme delivery was based on the Andras Pető method, otherwise known as Conductive Education. This is a form of physical therapy which is often delivered as a group activity. Conductors were recruited locally as well as from Great Britain and Hungary. Support was provided by a team of assistants, recruited locally, who were mainly University Students studying nursing, medicine, physiotherapy and other subjects. This enabled a number of very high quality programmes to be delivered to the 16 children who attended, up from 12 last year, many benefiting from 180 hours of therapy each. In total, we were delighted to be able to deliver another 1,800+ hours again this year.

Additionally, we have been making our approach more multidisciplinary and this has resulted in us bringing some physiotherapists onto the team, including a specialist neuro-physiotherapist. She has focused on evaluating the effectiveness of our programmes by performing a detailed analysis of each child's ability to perform across a range of activities at the beginning and at the end of the programme. Her report concluded that all children showed significant improvement in almost all areas. In addition, parents continued to speak of the social skills and confidence-building that their children benefited from, in addition to the physical improvements that they had seen in their children.

Our neuro-physiotherapist will continue to help in a development role in future programme planning.

Parents continue to find that it is helpful for them to spend time with other parents whose children are experiencing similar difficulties and that this provided them with a support network as well as some much needed respite from their caring role while their children are attending schemes. Parents commented that they felt they could really enjoy their respite because they all felt that their children were having all their needs so comprehensively met at the same time.

We are delighted to be able to report on a number of improvements in many areas of our operation including:

THE GAITWAY ORGANISATION

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MAY 2024

Financial review

The financial statements are presented in the standard format required by the Charities SORP and cover the activities of THE GAITWAY ORGANISATION. The Statement of Financial Activities (SOFA) on page 8 shows the gross income from all sources and the split of activity between restricted and unrestricted funds. It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to around 6 months expenditure. The trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity's current activities while consideration is given to ways in which additional funds may be raised.

The charity's normal main sources of income are split across fee revenue, grant funding and donations from fundraising activities. We have seen an improvement in the balance of these funding streams with approximately a third of revenue from each of the main sources as can be seen in the Income Breakdown pie chart:

Total income of the charity during the year was £60,078. This represents a step-change in operating income for the year of over 200% or £40,679 increase on the previous year (ignoring exceptional income from legacies).

Reserves Policy

The trustees would aim to have in hand an amount equal to six months’ regular expenditure as free reserves to meet future shortfalls in income and unexpected expenses. The balance of free reserves as at 31st May 2024 was £227,494. This is significantly above the ideal level set by the trustees. However, we recognise that if we are to expand as planned, we will need to keep these funds available to cover significantly higher levels of monthly spending when staff and premises are secured. It is particularly difficult to build these reserves of unrestricted funds for new charities and we are very grateful that a legacy has put us in a position where an annual budget of up to £455,000 could be adequately covered by our current reserve fund. In the meantime, we are actively managing these funds to maximise income to the charity by way of an appropriate mix of interest bearing cash savings accounts.

THE GAITWAY ORGANISATION

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MAY 2024

Plans for future periods

Having successfully won funding from a number of bodies, notably the National Lottery Community Fund, the LFT Charitable Trust and the Enkalon Foundation as well as benefiting greatly from the fundraising activities of Mivan Ltd, who selected us as their Charity of the Year for 2024, we now wish to continue to develop our fundraising capability.

We have developed a strategic plan with the aim of continuing to offer schemes at the current level, while working in earnest towards obtaining suitable permanent premises where other therapeutic methods could be made available and offered throughout the year, as these services are badly needed all year round to be truly effective. We have also noticed that physio and occupational therapy services have not returned to pre-pandemic levels and so there is more need than ever for our services.

We hope to continue to attract more talented Trustees with as wide a range of relevant experience as possible and would dearly like to be in a position to employ senior management staff to take things to the next level over the coming years.

We will continue to work towards our goal of making our detailed development plan a reality to become a valuable and sustainable resource for parents and children/young people with neuro-motor disabilities throughout Ireland who hope to move forwards through therapy.

Structure, governance and management

The Gaitway Organisation is a company limited by guarantee.

The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:

Mr D Campbell (Resigned 23 August 2023) Mr A Elliott Mrs J McKee (Retired 23 August 2023) Mrs R Elliott Mrs C Butler (Appointed 23 August 2023) Mrs T Andrew Mr H A Withers (Appointed 13 February 2024)

THE GAITWAY ORGANISATION

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MAY 2024

Recruitment and appointment of trustees

New trustees are recruited based on their skills, experiences and commitment to the charity’s mission, ensuring a well- rounded board that reflects the community’s diversity. None of the trustees have any beneficial interest in the company. Each of the trustees are members of the company and are liable to contribute an amount not exceeding £1 towards the assets of the company in the event of liquidation.

The company is a registered charity with the Charity Commission in Northern Ireland. Registration number NIC107729.

The trustees' report was approved by the Board of Trustees.

Mr A Elliott Trustee

Date: 24th February 2025

THE GAITWAY ORGANISATION

STATEMENT OF TRUSTEES' RESPONSIBILITIES

FOR THE YEAR ENDED 31 MAY 2024

The trustees, who are also the directors of The Gaitway Organisation for the purpose of company law, are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company Law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Gaitway Organisation and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.

In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the Gaitway Organisation and enable them to ensure that the financial statements comply with the Companies Act 2006, the Charities (Accounts and Reports) Regulations (Northern Ireland) 2015, and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

THE GAITWAY ORGANISATION

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE GAITWAY ORGANISATION

I report to the trustees on my examination of The Gaitway Organisation for the year ended 31 May 2024.

Responsibilities and basis of report

As the trustees of the Gaitway Organisation (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act). The Trustees consider that an audit is not required for this year under Section 65(9)(b) of the Charities Act (Northern Ireland) 2008 and that an independent examination is needed.

It is my responsibility to:

Basis of Independent Examiner's Report

My examination was carried out in accordance with the general directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from you as trustees 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 to whether the accounts present a "true and fair" view and the report is limited to the matters set out in the next statement.

Independent examiner's statement

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.

Aidan Corrigan Corrigan CA Limited

24 Greystone Road Antrim BT41 2QN N Ireland

Dated: 24 February 2025

THE GAITWAY ORGANISATION

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 MAY 2024

Unrestricted
Restricted
funds
funds
2024
2024
Notes
£
£
Income from:
Donations and legacies
3
26,052
11,500
Charitable activities
4
20,940
-
Investments
5
1,586
-
Total income
48,578
11,500
Expenditure on:
Charitable activities
6
31,949
11,500
Total expenditure
31,949
11,500
Net income and movement in funds
16,629
-
Reconciliation of funds:
Fund balances at 1 June 2023
210,865
-
Fund balances at 31 May 2024
227,494
-		 Total
Unrestricted
funds
2024
2023
£
£
37,552
210,000
20,940
9,399
1,586
-
60,078
219,399
43,449
29,845
43,449
29,845
16,629
189,554
210,865
21,311
227,494
210,865		 Total
Unrestricted
funds
2024
2023
£
£
37,552
210,000
20,940
9,399
1,586
-
60,078
219,399
43,449
29,845
43,449
29,845
16,629
189,554
210,865
21,311
227,494
210,865
219,399
29,845
29,845
189,554
21,311
210,865

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

THE GAITWAY ORGANISATION

BALANCE SHEET

AS AT 31 MAY 2024

Notes
Current assets
Debtors
11
Cash at bank and in hand
Creditors: amounts falling due within
one year
12
Net current assets
Net assets excluding pension liability
The funds of the Gaitway Organisation
Unrestricted funds		 2024
£
2,470
226,030
228,500
(1,006)		 £
227,494
227,494
227,494
227,494		 2023
£
-
210,865
210,865
-		 £
210,865
210,865
210,865
210,865

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 May 2024.

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 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 24 February 2025

Mr A Elliott Trustee

Company registration number NI661878 (Northern Ireland)

THE GAITWAY ORGANISATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2024

1 Accounting policies

Charity information

The Gaitway Organisation is a private company limited by guarantee incorporated in Northern Ireland. The registered office is 35 Belfast Road, Antrim, BT41 1PB.

1.1 Accounting convention

The financial statements have been prepared in accordance with the Gaitway Organisation's governing document, 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 1 January 2019). The Gaitway Organisation is a Public Benefit Entity as defined by FRS 102.

The Gaitway Organisation has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.

The financial statements are prepared in sterling, which is the functional currency of the Gaitway Organisation. Monetary amounts in these financial statements are rounded to the nearest £.

The principle accounting policies which have been applied consistently throughout are set out below.

1.2 Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the Gaitway Organisation 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 Gaitway Organisation.

1.4 Income

Income is recognised when the Gaitway Organisation 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 Gaitway Organisation 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 Gaitway Organisation 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.

THE GAITWAY ORGANISATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MAY 2024

1 Accounting policies

(Continued)

1.5 Expenditure

Expenditure on charitable activities is recognised once there is a legal and 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. The charity is below the charity audit threshold and therefore is exempt from reporting expenditure on an activity basis. The charity has opted to report by the nature of expenditure rather than on an activity basis.

1.6 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 three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.7 Financial instruments

The Gaitway Organisation 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 Gaitway Organisation's balance sheet when the Gaitway Organisation 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.

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 Gaitway Organisation’s contractual obligations expire or are discharged or cancelled.

1.8 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 Gaitway Organisation is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

THE GAITWAY ORGANISATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MAY 2024

2 Critical accounting estimates and judgements

In the application of the Gaitway Organisation’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3 Donations and legacies

Unrestricted
Restricted
funds
funds
2024
2024
£
£
Donations and gifts
18,889
-
Grants
7,163
11,500
26,052
11,500
Grants receivable for core activities
National Lottery
-
10,000
EnKalon Foundation
-
1,500
Trustees of the LFT
7,163
-
7,163
11,500		 Total
Unrestricted
funds
2024
2023
£
£
18,889
200,000
18,663
10,000
37,552
210,000
10,000
10,000
1,500
-
7,163
-
18,663
10,000		 Total
Unrestricted
funds
2024
2023
£
£
18,889
200,000
18,663
10,000
37,552
210,000
10,000
10,000
1,500
-
7,163
-
18,663
10,000
210,000
10,000
-
-
10,000

4 Income from charitable activities

Unrestricted Unrestricted
funds funds
2024 2023
£ £
Services provided under contract 20,940 9,399

THE GAITWAY ORGANISATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MAY 2024

5 Income from investments

Unrestricted Unrestricted
funds funds
2024 2023
£ £
Interest receivable 1,586 -
Expenditure on charitable activities
Charitable Charitable
Activities Activities
2024 2023
£ £
Direct costs
Staff costs 32,773 17,035
Direct Costs 8,076 11,901
40,849 28,936
Share of support and governance costs (see note )
Governance 2,600 909
43,449 29,845
Analysis by fund
Unrestricted funds 31,949 29,845
Restricted funds 11,500 -
43,449 29,845

6 Expenditure on charitable activities

8 Trustees

None of the trustees (or any persons connected with them) received any remuneration or benefits from the Gaitway Organisation during the year.

THE GAITWAY ORGANISATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MAY 2024

9 Employees

The average monthly number of employees during the year was:21

Employment costs
Wages and salaries		 2024
Number
21
2024
£
32,773		 2023
Number
8
2023
£
17,035

There were no employees whose annual remuneration was more than £60,000.

10 Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

11 Debtors

Amounts falling due within one year:
Trade debtors
12
Creditors: amounts falling due within one year
Other taxation and social security
Accruals and deferred income		 2024
£
2,470
2024
£
71
935
1,006		 2023
£
-
2023
£
-
-
-

13 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 June Incoming Resources At 31 May
2023 resources expended 2024
£ £ £ £
General funds 210,865 48,578 (31,949) 227,494

THE GAITWAY ORGANISATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MAY 2024

13 Unrestricted funds (Continued)
Previous year: At 1 June Incoming Resources At 31 May
2022 resources expended 2023
£ £ £ £
General funds 21,311 219,399 (29,845) 210,865
14 Analysis of net assets between funds
Unrestricted
funds
2024
£
At 31 May 2024:
Current assets/(liabilities) 227,494
227,494
Unrestricted
funds
2023
£
At 31 May 2023:
Current assets/(liabilities) 210,865
210,865

15 Movement in Funds

Fund At 01/06/23 Incoming Resources Transfers At 31/05/24
Resources Expended
£ £ £ £ £
Restricted - 11,500 (11,500) - -
Unrestricted 210,865 48,578 (31,949) - 227,494
210,865 60,078 (43,449) - 227,494

THE GAITWAY ORGANISATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MAY 2024

16 Related party transactions

Payments have been made to related parties (2023 - none). Trustees have bought resources or made payments on behalf of the charity and were reimbursed for these. No benefits were received.

It should be noted that the trustees use the services provided by the charity but pay the same fee as any other user and do not receive a discount.

Related party transactions: Lodgements 19/1/24 Tracy Andrew £1,081.60 31/05/2024 A&R Elliot £225

Withdrawals 31/05/2024 A&R Elliot £5,355.56