Strabane AYE Statement of Financial Activities Year ended 31 July 2023 2023 Restricted funds Total funds Total funds 2022 Unrestricted funds Note Income and endowments DoAations and legacies Charitable activities 2,500 2,176 83,841 86.341 2.176 128,485 21,634 Total Income 4,676 83,841 88,517 150,119 Expendlture Expenditure on charitable activities Total expendlture 12,294 83,841 96,135 148,909 12,294 83,841 96,135 148,909 Net (expendlture)lincome and net movement in funds {7,618) (7,618) 1,210 Reconciliation of funds Total funds brought forward Total funds carried forward 6,049 6,049 4,839 6,049 (1,569) (1,569) The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. The notes on pagos 7 to 12 fom) part of these financial statements. Strabane AYE Statement of Financial Position 31 July 2023 2023 2022 Note Currant assets Debtors Cash at bank and in hand 11 300 26,497 4,876 4,876 26,797 Creditors: amounts falling due wlthin one year Net current liabilltles 12 6,445 20,748 6,049 (1.569) (1,569) Total assets less currènt liabilltles 6,049 Funds of tha charity Unrestricted funds (1.569) (1,569) 6,049 Total charity funds 6,049 These financial statements were approved by the board of trustees and authorised for issue on 13 November 2023, and are signed on behalf of the board by: M O Neill Member The notes on pages 7 to 12 form part of thesè financial ststements. Strabane AYE Notes to the Financial Statements Year ended 31 July 2023 General Infom)ation The charity is a public benefit entity and a registered charity in Northern Ireland and is unincorporated. The address of the principal office is 39 Bowling Green, Strabane, BT82 8BW, Co Tyrone. Statement of compllance These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland,, the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicab￿ in_lhe UK and Republic of Ireland {FRS 102) (Charities SORP (FRS 102)) and the Charities Act (Northern Ireland} 2008. Accountlng policies Basis of preparation The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure. The financial statements are prepared in sterling, which is the functional currency of the entity. Going concern There are no material uncertainties about the charity's ability to continue. Fund accounting Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes. Designated funds are unrestricted funds earmarked by the members for particular future project or commitment. Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment fvnds. Strabane AYE Notes to the Financial Statements (contlnued) Year ended 31 July 2023 Accounting policies (continued) Incomlng rosources All incoming resources are included in the statement of financial activities when entitlement has passed to the charity., it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income: income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably. legacy income is recognised when receipt is probable and entitlement is established. income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers. income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted. Resources expended Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates: expenditure on raising ￿ndS includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods. expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities. other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities. All costs are allocated to expenditure categories reflecting the use of the ￿Source. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned be￿een the activities they contribute to on a reasonable, justifiable and consistent basis. Financial instruments A financial asset or a financial liability is recognised only when the charity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs. Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted. Strabane AYE Notes to the Financial Statements (continugd) Year ended 31 July 2023 Accounting policies (contlnued) Flnancial Instruments (contlnued) Debt instruments are subsequently measured at amortised cost. Where investments in shares are publicly traded or their fair value can otherwise be measured reliably, the investment Is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including'tertmatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in the statement of financial activities, with the exception of hedging instruments in a designated hedging relationship. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised. For all equity instruments regardless of significance. and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised. Defined contribution plans Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refvnd. Mhen contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as an expense in the period in which it arises. Donations and legacies Unrestricted Funds Restricted Total Funds Funds 2023 Donations Donations 2,500 2,500 Strabane AYE Notes to the Financial Statements (contlnuedj Year ended 31 July 2023 Donatlons and legacies (contlnued) Unrestricted Funds Restricted Total Funds Funds 2023 Grants International Fund for Ireland- Personal.Youth Development Programme International Committee ol The Red Cross D.F.C Job Retention Scheme Derry and Strabane District Council 61,643 21,948 250 61,643 21,948 250 2,500 83,841 86,341 Unrestricted Funds Restricted Total Funds Funds 2022 Donations Donations 350 350 Grants International Fund for Ireland- Personal Youth Development Programme International Committee of The Red Cross D.F.C Job Retention Scheme Derry and Strabane District Council 73,630 47,021 73.630 47,021 5,614 1,870 5,614 1,870 7,834 120,651 128,485 Charitable activities Unrestricted Total Funds Unrestricted Total Funds Funds 2023 Funds 2022 Management fees 2,176 2,176 21,634 21,634 10- Strabane AYE Notes to the Financial Statements (contlnuedj Year ended 31 July 2023 Expenditure on charitable actlvities by fund type Unrestricted Funds Restricted Total Funds Funds 2023 Expenditure Re,. PYPD Expenditure Re. ICRC General 61,643 21,948 250 61,643 21,948 12.544 96,135 12,294 12,294 83,841 Unrestricted Funds Restricted Total Funds Funds 2022 Expenditure Re," PYPD Expenditure Re,. ICRC General 73,630 47,021 73,630 47,021 28,258 28,258 28,258 120,651 148,909 Expenditure on charitable activities by activity type Activities undertaken Total funds directly 2023 Total fund 2022 Expenditure Re,. PYPD Expenditure Re,. ICRC General 61,643 21,948 12,544 61,643 21,948 12,544 96,135 73,630 47,021 28,258 148,909 96,135 Independent examination fees 2023 2022 Fees payable to the independent examiner for.. Independent examination of the financial statements 875 755 Staff costs The average head count of employees during the year was Nil (2022: 5). No employee received employee benefits of more than £60,000 during the year (2022: Nil). 10. Trustee remuneratlon and expenses No trustee received any remuneration or other benefits 11 Strabane AYE Notes to the Financial Statements (contlnued) Year ended 31 July 2023 11. Debtors 2023 2022 TnaFOwed 300 12. Creditors: amounts falliRg due within one year 2023 2022 Trade creditors Grants in advance 874 5,571 755 19,993 6,445 20,748 13. Pensions and other post retirement benefits Defined contribution plans The amount recognised in income or expenditure as an expense in relation to defined contribution plans was £Nil (2022.. £319). 12-