Kirlunriola Early Years Statement of Financial Activities for the Year Ended 30 June 2023 (Including Income and Expenditure Account and Statement of Total Rccogniscd Gains and Losses) Unrestrictcd funds Total 2023 Note Incomc and Endowments from: Cliaritable activities 51,106 51,106 Total income 51,106 51,106 Expenditure on: Cliaritable activities 47,354) (47,354) Total expenditure (47,354 47,354 Net income 3,752 3,752 Net movement in funds 3.752 3,752 Reconclliation of funds Total funds brought forward 23.161 23,161 Total funds carried forward 12 26,913 Unrcstrictcd runds 26,913 Total 2022 Note Income and Endowmtnts from: Charitable activities 48,071 48,071 Total income 48,071 48,071 Expenditurc on: Charitable activities (44,725) 44,725) Total expenditure 44,725) 44,725 Net income 3,346 3,346 Net movernent in funds 3,346 3,346 Reconciliation ol fund5 Total funds brought forward 19.815 19,815 Totsl funds Caled forward 12 23,161 23,161 All of the charity's activities derlve frorn continuing operations during the above two periods. The funds breakdown for 2022 is shown in note 12. The notes on pages 8 to 12 forni an integral part of these financial statements. Page 6
Kirkinriola Early Years (Registration number: N140577) Balance Sheet as at 30 June 2023 2023 2022 Note Fixed assets Tangible assets 855 1,140 Current assets Stocks Debtors Cash at bank and in hand 319 2,870 28,022 70 2,387 27,287 io 31,211 (5,153 29,744 (7,723 Credltors: Amount5 falling due wlthin one year Net current assets 26.058 22,021 Net assets 26,913 23,161 Fund5 of tlie charity: Unrcstrlctcd income funds Unrestricted ndS 26,913 23,161 Total funds 12 26,913 23,161 For the financial year ending 30 June 2023 the charity was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies. Directors, responsibilities: The members have not required the charity to obtain an audit of its accounts for the year in question in accordance with section 476; and The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. These financial statements have been prepared in accordance with the special provisions relating to coinpanies subject to the small companies regime within Part 15 of the Companies Act 2006. The financial statements on pages 6 to 12 were approved by the trustees, and authorised for issue on 18 August 2023 and signed on their behalf by: Z. Zillah Wallace Company Secretary and Trustee The notes on pages 8 to 12 forni an integral part of these financial statements. Page 7
Kirkinriola Early Years Notes to the Financial Statements for the Year Ended 30 June 2023 I Charity status The cliarity is limited by guarantee, incorporated in Northern Ireland, and consequently does not have share capital. Each of the Irustees is liable to contribute an amount not exceeding £5 towards the assets of the charity in the event of liquidation. Tlie address of ils registered office is., 5 Cloglier Road Ballymeiia Co Antrim B T43 6TB These financial statements were authorised for issue by the trustees on 18 August 2023. 2 Accounting policics Surnmfiry of significant Accounting policie5 and key accounting cstimate5 The principal accouiiting policies applied in the preparation of tliese financial statements are set oiit below. These policie5 have been consi5t¢ntly applied to all the year5 presented, unless otherwise stated. Statement ofcompliance The financial staternents have been prepared in accordance with 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 l January 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in ihe UK and Republic of Ireland (FRS 102). They also coniply willi the Companies Act 2006 and Charities Act (Northern Ireland) 2008. BASIS of prep1& ration Kii'kinriola Early Year5 meets flie definition of a publi¢ benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaclion value unless Otherwise stated in the relevant acrounting policy notes. Going concern The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concem nor any significant areas of uncertainty that affect the carrying value of assets held by the charity. Expcnditure All ¢xpenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff osts allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset's use. Other 5UPPOrt costs are allocated based on ihe spread of staff costs. Page 8
Kirkinriola Early Years Notes to the Financial Statements for the Year Ended 30 June 2023 Cliaritable aclivilies Charitable expenditure comprises those costs incurred by the charity in the delivery of it5 activities and services for its beneficiaries. It includes both costs that can be allocat¢d dir¢ctly to such activities and those costs of an indirect nature necessary to support them. Government grants Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recogniscd in income over the period in which the related costs are recognised. Grants relating to the acquisition of fixed a5SCts are netted off against the asset to wliicli it relates. Wliere pait of a grant relating to an asset is deferred, it is recognised as deferred incoine. Taxation The charity is considered to pass the tests set out in Paragraph I Schedule 6 of the Finance Act 2010 and therefore it meets ihe definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part I l of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes. Tangible fixed assets Individual fixed assets are initially recorded at cost, less any subsequent accumulated depreciation and subsequent accumulated iinpairment losses. Depreclatlon and amortlsatlon Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected use1 economic life as follows: Asset class Fixture5 & fittings Depreelatlon method and rate 25 % reducing balance basis Stock Stock is valued at the lower of Cost and estimated selling price les5 cos15 to complete and sell, after due regard for obsolete and slow moving stocks, Cost is dolerinined using the first-in, first-out (FIFO). Trade debtors Trade debtors are amounts due for services perfornied in the ordinary course of business. Trade debtors are recognised initially at the transaction price. Fund structure Unrestricted income funds are general funds that are available for use at the trustees discretion in furtherance of the objectives of the charity. Page 9
Kirkinriola Early Years Notes to the Financial Statemcnts for the Year Ended 30 June 2023 3 Income from charitable activitie5 Unrestrictcd funds General Total 2023 Total 2022 PEAGS Fees Fundraising Sale of sweatshirts Interest DAEKA 35,717 9,256 5,392 595 146 35,717 9,256 5,392 595 146 31,616 10,120 4,460 468 io 1,398 48,072 51,106 51,106 4 Expciiditure on charitablc activitlC5 CliaritAble activlty eosts Total 2023 Total 2022 Salaries & pension costs Light, heat & power Insurance Repairs & rnaintenance Telephone, postage & stationery Subscriptions Purchase of Sweatshirts Workshops, work materials etc Food Sundry expenses Accounlancy fees Early years specialist Bank charges Depreciation 36,471 1,810 3,075 1,037 138 59 589 247 703 134 1,266 1,367 173 285 36,471 1,810 3,075 ,037 138 59 589 247 703 134 1,266 1,367 173 285 33,913 1,546 2,712 2,492 58 59 290 347 665 57 894 1,102 210 380 47,354 47,354 44,725 Page 10
Kirkinriola Early Years Notes to the Financial Statements for the Year Ended 30 June 2023 S Net incomingloutgoing resources Net incoming resources for the year include: 2023 2022 Depreciation of fixed assets 380 6 Taxatlon The charity 15 a registered charity and is therefore exempt from taxation. 7 Tangible fjxed assets Furnlture and equipment Total Cost At l July 2022 17,134 17,134 At 30 June 2023 17,134 17,134 Dcpreelotlon At l July 2022 Charge for the year 15,994 285 15,994 285 At 30 June 2023 16,279 16,279 Net book value At 30 June 2023 855 855 At 30 June 2022 1,140 1,140 8 Stoek 2023 2022 Stocks 319 70 9 Debtors 2023 2022 Trade debtors Prepayments loo 2,287 2,387 2,870 2,870 Pagell
Kirkinriola Early Years Notes to the Financial Statements for the Year Ended 30 June 2023 10 Casli and cash equivalents 2023 2022 Cash on hand Cash at bank 12 27,275 28,018 28,022 27,287 I I Creditor5: amounts falling due withln one year 2023 2022 Other creditors Accruals 3,930 1,223 5,248 2,475 5,153 7,723 Other creditors include grant fi]nding from Early Year5 'Childcare Support, Fund £307 and from the Education Board 'lT Support, Fund £421 which had not been spent at the year end. 12 Funds Balance at I July 2022 Incomlng resources Resources cxpcnded Balance at 30 June 2023 Unrestricted funds Generiil General unrestricted fund 23,161 51,106 (47,354 26,913 Balance at I July 2021 Incoming resources Resources expended Balance at 30 June 2022 Unrestricted funds Geiicrul General unrestricted fund 19,814 23,161 Page 12