COMPANY REGISTRATION NUMBER: N1654291 CHARITY REGISTrATION NUMBER: NIC108041 Equipping For Life Ltd Company Limited by Guarantee Unaudited Financial Statements 31 July 2023 Finegan Gibson Ltd Chartered accountanls Causeway Tower 9 James Street South Belfast BT2 8DN
Equipping For Llfe Ltd Company Limlted by Guarantse Flnanclal Statements Year ended 31 July 2023 Page Trustees, annual report (incorporatlng the directofs report) Independent examinerf8 report to the trustee8 11 Statement of financial actlvltles (Including Income and expenditure account) 13 Statement of financial position 14 Notes lo the financial statements 15
Equipping For Life Ltd Company Limlted by Guarantee Trustses. Annual Report (Incorporatlng the Dlrectorfs Report) Year ended 31 July 2023 The trustees, who are also the directors for the purposes of company law, present their report and the unaudited financlal statements of the charity for the year ended 31 July 2023. Chalrfs report This report covers our fifth year of operation. Our ongoing partnership with local Primary Schools continues to grow and flourish with Equipping Lrfe providing help with reading. tennis coaching and careers education (Inspire). We work in many areas where deprivation has affected both achievement and aspiration and we partner with local schools lo provide the best possible service lo the children the schools consider Vuld benefit most from the work. Equipping for Lrfe endeavours to provide as much support to the schools as possible and our relationships with them are based on supportive and mutualty agreed objectiv&s. The children we vnrk with in our Reading Programme benefft from development of their reading skills and also from spending time on a one-to-one basls Nmth dedicated vOluntr tutors. This year we provrded extensive reading and play resources to each of our volunteer teams as well as appropriate training for using the resources. Research shows that there are many benefrts for reading for children.. Are more likely to overcome disadvantage caused by inequalities. Are more likely to be happier. heatthier and experience better mental wellbeing and self-esteern. Are more likely to do better at school and make more progress across the curriculum. Are more likely to develop empathy and creatlvity. The qualty, experience and dedlcation of our volunteers are the main reasons why the work of Equipping for Llfe Is valued by our partner schools. Our 130+ volunteers are recruited from churches and. increasingly, from word of mouth through our volunteer communty and through the work of Brother David. This year we have revamped our recruitment and training ProdureS which has improved Ihe induction experience of the new volunteers. During the year we were audited by AccessNI and our procedures were commended as being not only fit for purpose, but being exernplary. This is testament to the due diligence of Pat Hutchinson. Office Manager and Jennifer Iryer, Volunteer Office Administrator. We continue to expand into diffent areas and primary schools. During the year we increased the number of partner schools to 23 and included one in North Belfast. ty in East Belfast, four new schools in South Antrim. two in Banbridge. three in Lisbum and one in Downpatrick. We have plans for further partnerships in the corning year including in North Belfast, Lisburn, South Antrim. Mid-Antrim and East Belfast. The staffing contingent did not change throughout the year, arKI we continue to operate with 2.1 FTE.
Equipping For Life Ltd Company Limitsd by Guarantse Trustees. Annual Report (Incorporating the Directoffs Report) (conllnued) Year ended 31 July 2023 Bro David, Equipping for Life's FourKler, continues to pray for and support the work of EfL through his involvement as a Trustee. recruitmenl of volunteers donors. During the year Tommy Stewart decided to resign from his role as a paid consultant for EquiDping for Lrfe and was elected as a new Trustee. The Board of Trustees is very grateful for his considerable contr•ution to the establishment and subsequent success of EfL. During Ihè ya8r we relaunched tyjr website www. ui forlrfe.or .uk and social medB platfornis (x. @Equipping4Lrfe & Faceboth, EquippingforLrfeNI). For the first four years of EfL's existence, Alan Graham managed the website as a dedicated volunteer. We are indebted to Alan for his hard work d creativity over the years which enabled the work of the volunteer5 to be publicised and celebrated. Our fundraising actpiities continued su(£essfulty. require fmancial assistance to pay for staffing. Offi facilities, mini8tries and for general administralive overheads. We are indebted to a number of individual donors and to trusts, who are ackncrledged later in this report. This year we atso introduced a new donalion facilty. Stewardship, which provides a quick and uncomplicated online platfomi for individuaL8 to give to the )Ik of EIL. The Readiro Programrre is the main outreach in Primary Schools and involves nearty 300 chiklren. Over the last two years ¥ have also developed the Tennis prograrnme the Shankill Road which involves introducing the children in eight Primary Schools to the sport of lennis. Our Tennis Coaches and volunteers rotate around the schcM throughout the year and provide basic tennis coaching. The qualitative evaluation by the school Princyals remains 0venMilyJty positive. Inspife. Equipping for Life's most recent innovative prcgramme. established in *tember 2022, has the vision of inspiring the children of the Shankill to unlock their enormous Wential and help shape their future wothng INes. For the 2022r23 programme we invofved over 850 children yth our inaugural events at Wheaffield, Forth River and Glenwood Prirmy Schools. These events were only possible bécause of the help and support of several businesses and individuals vtho gave so generously of their ts'me and expertise. Our IK•pe is that a seed will be planted in the lives of these young children. the next generation on the Shankill Road, and that these seeds will come to fruition as the children progress in lrfe to achieve their full Wenlial. Finally. I wish to Ihank our Board rnemt for their Valuab input arKI assistance. The Trustees cttInUe to erKleavour to provide good g0Veman to the staff and volunteets of Equipping Llfe. Gordon Bell Chairperson Equlpping for Life Ltd
Equipping For Life Ltd Company Limited by Guarantee Trustees. Annual Report (Incorporatlng the Dlrectovs Report) (conthiueo) Year ended 31 July 2023 Reference and admlnlstrative details Reglstered charlty name Equipping For Life Ltd Charlty registratlon number NIC108041 Company reglstratlon number N1654291 Princlpal office and reglst•rod 9c Argyle Business Centre offlca North Howard Street Belfast BT13 2AP The trustses Patricia Hutchinson (Secretary) Gordon Bell (Chairperson) Dr Lavinia Boyce Rev Colin James Duncan Rev David Jardine (Founding Director) Suzanne Elizabeth Rebecca McLean Rachel Swift (Treasurer) Thomas John Stewart (Appointed 3 July 2023) Independent examlner Finegan Glbson Ltd Causeway Towar 9 James Street South Belfast BT2 8DN
Equipping For Life Ltd Company Limitsd by Guarantse Trustees, Annual Report (Incorporating the Directorf8 Report) (n(Ined) Year ended 31 July 2023 Structure, governance and management Goveming document The charity is a company limited by guarantee incoorated in the UK and lStered in Northem Ireland and governed by a Memorandum and Articles of Associats'on. The charitable company does not have share capital. The liabilty of each member is limited to an amount not èxceeding £1 in the event of a winding up. The charity's gIstered office is given in the Referen and Administrative Details section of the Trustees, Report. Govemance of th• eharftable company During the period under rewew the trustees met 5 times, usualty at bi-monthly inteplals. Trusteesldiractors are appointed by nominations, made in writing by any existing trustee. Nominated trustees are appointed by election by existing trustees. The trustees have overall responsibility for the organisation and for directing its activty. ensuring the charitable company is well run and delivering the outcomes for which it has been set up. Rachel Swift has been Honorary Treasurer since 7 September 2021. Pat Hutchinson has been Honorary Secretary since 15 March 2022. Audrey Curry was appointed Director of Equipping for Life on 1 October 2021. Audrey is responsible for the management of the organisation, reporting to the Board at each meeting. Professional advice is provided by Thomas Stewart. Relatedpartles All trustees and senior staff mplete a conflict of interest register annually in respect of potential transactions between Equipping for Life Ltd and its connected parties. Paypollcy forsenlorstaff The pay of senior staff is reviewed annually. In view of the nature of the charitable company. the trustees benchmark agalnst pay levels in other communty organisalions working within the sector. The trustees (who are also directors of Equipping for Life Ltd for the purposes of company law) are responsible for preparing the Trustees, Report and the financial statemènts in accordance with applicable law and United Kingdom Accounting Standards (UK GAAP). Company law requires the directors to prepare financial StatentS for each financial year which give a true and fair view of the state of affairs of the charitable company and the incoming r&sources and application of r&8ources. including the income and expendilure of the charitable company for that period. In preparing these financial statements. the truslees are required to: 1. select suitable accounting policies and then apply them consistently: 2. observe the methods and principlas in the Charities SORP 2019 (FRS102); 3. make judgements and accnting estimates that are reasonable and prudent: 4. state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements. and 5. preparè the financral statements on the going concern basis unless it is inappropriate to presume that the charitable company wlll continue in operation. The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company's transactions and disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to erisure that the financial statements
Equipping For Life Ltd Company Limitsd by Guarantse Trustees, Annual Report (Incorporatlng the Dlrectorfs Report) (¢onUn4n¢ Year ended 31 July 2023 compty with the Companies Act 2006. They are also responslble for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The trustees are responsible for the maintenance and Sntegrfty of the corporate and financial Infom)ation included on the company's websrte. Independent examlner Finegan and Gibson vKre appointed as Accountants. Small company pmvlslons This report has been prepared In accordance with the 8peci81 provlslons of Part 15 of the Companies Act 2006 relatSng to small companle8
Equipping For Life Ltd Company Limited by Guarantee Trustees. Annual Report (Incorporating the DirectOS Report) (contlnuerf) Year ended 31 July 2023 Objectives and activities Vision: Young people and families equtpped and empowered., communities revitalised. Mission: To equip people so they can futfii théir potentral. Values: Faiih, Integrity, Equalty. Commitment and Hope. The charitable company's legal objects as set out in its gov8ming document (Articles of Associatron) are: - The prevention or relief of povety; - The advancement of education; arKI - The advanment of relvJion. Its aims are: 1. To develop and refine w)lunleer enabled initiatives, that have measurable outputs and outcomes. and are delivered, in partnership with schools, churches and communities in North and Vlest Belfast; 2. To explore the posslbllty and then expand into other areas. towns and cities through the application of tried and tested volunteer enabled initiatives, in partnership with schools. churches and communities. 3. To research and identify new opportunities, partnerships and initsatives through whtch volunteer teams can assist young people. their families and their communities be equipped, empowered and revitalised; and 4. To enable sound govemance, finance. administration and further development. Main Activities. Projects. SeNtces: - Promotion of EFL - Recruitinent of volunteers - Accéss Nl checking of volunteers - Training of volunteers - Placing volunteers in schools - Volunt&r management - Volunteer evaluation Pilot employability support. in partnership with training organisations- Identify q)portunities to work in partnership with communty cohesion initiatives- Governance of EFL - Intemal and extemal communications - Staff recruitment and training - Financial rnanagnent of EFL - Income generation - Administration Volunleers are sourced from local churches and other organisations, includlng schools and colleges and through recruitment by existing volunteers. Public benefft. The trustees have complied with Ihe duty lo have due regard to Ihe Charity Commission for Northem
Equipping For Life Ltd Company Limited by Guarantee Truste8s' Annual Report (Incorporatlng the Dlrectorfs Report) (willnuedj Year ended 31 July 2023 Ireland's statutory guidan on the public benefit requirement issued under the Charities Act {Nl) 2008. The trustees believe that the charitable company provides a public benefft in a number of ways through the undertaking of a range of projects. stegIC report The following sections for achlevem8nts and performance and financlal reviaw fom the strategic report of the charity. A¢hievements and perforniance In 202212023, the fifth year of operation: 1. 4 Meetings of Trustees during the year 2. 2 Meetings of Sub-committees during the year 3. Monthly Leadership meetings during the year 4. 5 Child Protection training sessions held for new volunteers. 5. 46 new volunleers recruited 6. 125 active volunteers working in schools end of Academic year 2023 with 12 more recruited in Juty but not in schools 7. Number of partner schools incrnased to 23 8. Reading and play resources provided to each and existing Teams 9. 8 schools receiving free tennis coaching involving 2 tennis Coaches and 5 volunteers. 10. Regular contact maintained with all Head Teachers 11. Regular contact maintained with all Volunteer Tutors 12. 5 Training and r2lebration sessions hekl with Volunteers Tutors and Team Leaders, lunch included 13. Contact made vEa weekly Zoorn prayer meetings 14. 5 Prayer events including 2 Prayer Weeks held during the year 15. Total number of supporting Prayer Partners 242 plus 125 Prawng Volunteer Tutors 16. Supported local 'Oasis Food Ban w51h signfficant donatlons from tutors and Prayer Partners 17. Partnership with St Mathews in their Winter Coat appeal. excellent response 18. Website relaunched 19. Facebook and Twitter accounts relaunched with regular posts 20. 3 Inspire Days hosted in Greater Shankill Schools involving 850 child 21. Partnerships developed with over 30 businesses and indmduals who assisted at the Inspire Days
Equipping For Life Ltd Company Limited by Guarantse Trustses. Annual Report (Incorporating the Dlrectovs Report) (contknu Year ended 31 July 2023 Financlal rnvléw The results for the year are set ¢yJl on pages 12 to 13 The charitable company Incurred a dthit for tha year of £90,508 {2022: surplu8 £51.039). of which £5,534 (2022:£12.132) was restricted. R•saMs pollcy The charitable companys ongoing pdicy is to retain a minimum level of reserves which matches the needs of the organisation both at the current time and in the foreseeable futuro. The trustees wlll strive to maintain reserves in the fuiure Sufflent lo rneet statutory obligations. committed expenditure. core 8alaries and running costs for a pwiod equivalent to 34 months annual expenditure. The charitable corrpany wlll conlinuo io monitor cornplian¢8 w6th this pdicy on a regular basis and thè Board will rewew the appropriateness of the poll¢y annually. In addltlon to thls mlnlmum level of reserves, Equlpping for Lrfe Lld a8pire8 to build reserves for the purposes of Strategic growth and developmenl in line with it8 Operational Plan as summarised under "Plan8 for the future". Free rewves are those unrestricted rese n(rt designated. nor Kwested in red assets, which are available for general use and which can be designated for the future developments. At 31 July 2023 their level was £24,936 (2022'.£203.531). Three to six monlhs, core salaries and running costs and statutory redundancy Ilabilities would equats to approxinHlely £28,858-£57,716 {2022.'£2O,314O,6s8).
Equipping For Life Ltd Company Llmited by Guarantee Trustees, Annual Report (Incorporating the Directorfs Report) (eontknuets) Year ended 31 July 2023 Plans for futurn perlods Objectives: 1. Aim: To develop and refine voluntw enabbd iniliatsves. that have measurable outy)uts and outcomes, and are delivered. in partnership th schools, churches and communities in North and West Belfast. 1.1 Greater Shankill collectlve apPrh to EFL volunteer led educatK)nal supwt 1.2 Further develop literacy support in prtmary schools 1.3 Explore further appropriate employabilty support for local primary schools 1.4 Pllot and develop a whole school partnership model 1.5 Explore and pilol communty education initiatsves in partrSh Mth local groups and organisatrons 2. Aim: To explore possibilty and then expand into other areas, t¢)wns and cities through the application of tried and tested volunteer enabled inittatives, in partnership wilh schools, churches and communities. 2.1 Continue to develop links with schools in Lksbum. East Belfast and Cwrickfwgus to enable strong and stable partnerships to be establlstrd 2.2 Increase the nurnber of volunteer teams in dev•loprrtht ar$ 2.3 Refine the recruilment, training and support procedures to enable new teams to provide more effective mentoring in sclKM)Is 3. Aim: To research arKI identify opportunities. partnerships and inltiatives through which volunteer teams can assist young peop. their fanilies and t1r communities be equipped, empowered and revTlaiised. 3.1 Identify opportunities to Wofk in partnership with sctrmls, businesses and individuals to empower Fximary aged children to develop irrto caring and effective adults 3.3 Build on the work done through the Inspire Days to enth schools to continue to devèlop their careers provision and education 4. Aim: To enable Sound governance, finance. administration further develowient 4.1 Effective governance of EFL 4.2 Organisational handbook of required legal and owational related policies and procedures 4.3 Effective internal and external communications 4.4 Effective marketing IPRlmedia plan 4.5 Effective volunteer recruiiment and management 4.6 Effective staff and volunteer training plan 4.7 Effective financial management cfj EFL 4.8 Effective income generation strategy 4.9 EffectNe administration of EFL 4.10 Further development of EFL planr*d and modelled effectNely 4.11 Effective rnanaget of liaison with EFL centres
Equipping For Life Ltd Company Limited by Guarantee Trustses, Annual Report (Incorporating the Directorfs Report) {nI1ue Year ended 31 July 2023 The trustees, annual report and the strategic report were approved on 27 February 2024 and signed on behalf of the board of trustees by: Rev David Jardine (Founding Director) Trustee Rathel Swfft (Treasurer) Trustee 10
Equlpplng For Life Ltd Company Limlted by Guarantee Independent Examinerfs Report to the Trustees of Equlpplng For Llfa Ltd Year ended 31 July 2023 I report to the trustees on my examination of the financial statements of Equlpplng For Llfe Ltd {Ihe charity,) for the year ended 31 July 2023. R88pon8lbl1ltl and basls of report A8 the trustees of the company (and also Its diractors for the purpo8e8 of company law) you are responsible for the preparation of the financial statements In accordance with the requirements of Charltles Act (Northem Ireland) 2008 (the '2008 Act,) and the Companies Act 2006 ('the 2006 Act,). You are satisfied that the accounts of the company are not required by chanty or company law to be audited and have chosen Instead to have an Independent examination. Havlng satisfied ry88 that the accounts of the company are not requlred to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report In respect of my examlnatlon of the charity's finanGbl Statements as carried out under Section 65 of the 2008 Act. In carying out my examination I have followed the general Dlractlons glven by the Charity Commission for Northern Ireland under sectlon 65{9)(b) of the 2008 A. Independent examlnerf8 Statement I have completed ry examination. I confirm that no matters have cwie to my attentbn In connection with my examinatk)n glvlng me cau8e to belleve that In any materlal respe. accounting re¢ord8 were not kept in re8pect of tha charty a8 requlred by sectlon 386 of the 2006 Act; or the financial statements do not accord with those records; or the financlal ststements do not comply with the accounttng requlrements of sectlon 396 of the 2006 Act other than any requirement that the accounts give a 'tru8 and fairf view which Is not a matter conskdered as part of an Independent examination; or the financial 8tat8m8nt8 have not been prepared In accordance wilh the method8 and principles of the Statement of Recommended Practlce for accounting and reporting by charitles applicable to charlties preparlng their accounts in accordance with the Flnanclal Reporting Standard applicable In the UK and Republic of Irel8fKI (FRS 102).
Equipping For Life Ltd Company Llmltsd by Guarantee Independent Examlnerfs Report to the Trustses of Equlpplng For Llfe Ltd {ntInUe0? Year ended 31 July 2023 I confirm that there are no other matters to which your attention shoutd be drawn lo enable a proper understanding of the accounts to be reached. Finegan Gibson Ltd Independent Examiner Causeway Tower 9 James Street Souih Belfast BT2 8DN 27 February 2024 12
Equipping For Life Ltd Company Limited by Guarantse Statement of Flnanclal Actlvltles (including income and expenditure account) Year onded 31 July 2023 2023 Restricted funds Totsl funds Total funds 2022 Unrestricted funds In¢omo and ondowm•nts Donatlons and legacies Charitable activitles Investment income 19,276 207 19,276 5,207 132,251 5,000 Total Income 19,483 5,000 24,483 132,295 Expondlture Expenditure on charitable activitles Total expondlture {99,457) (99,457) (15,534) (114,991) (15,534) (114.991) (81,256) (81.256) Not {oxpendlturnVlncom• and nat movement In funds {79,974) (10,534) {90,508) 51,039 Reconclllatlon of fund8 Total funds brought forbvard Total funds carrfed forward 206,430 126,456 13,040 2,506 219,470 128,962 168,431 219,470 The Stateme of financlal actSvltle8 Include8 all galns and1088e8 recognised in the year. All Income and expanditure derive from C¢)ntlnulng 8Ctivllies. Tho noto8 on pages IS to 25 form part of the80 flnanclal statements. 13
Equipping For Life Ltd Company Limited by Guarantee Ststsment of Financlal Posltlon 31 July 2023 2023 2022 Flxed assets Tangible fixed assets 15 1.520 2,839 Current assets Debtors Cash at bank and in hand 16 120 153,011 153.131 440 219,836 220,276 Creditors: amounts falling du• within one year Net currnnt assets 17 25.689 3,645 127,442 128,962 128,962 216,631 219,470 Total assets1888 currnnt liabilitles Net assets 219,470 Funds of the charlty Restricted funds Unrestrtcted funds 2.506 126,456 128,962 13.040 206,430 219.470 T¢)tsl charity fvnds 19 For the year ending 31 July 2023 the charity was entitled to exemption from audit under secllon 477 of the Companies Act 2006 relating to small companies. Diradors, responslbllitEs'. The members have not required the company to obtain an audbt of ts financial statements for the year in question in accordarrR with section 476; The directors acknedge their responsibllitles for complylng viith the requlrements of the Ad with respect to accounting records and the preparakn'on of financial statements. These financial statements have been prepared in accordan wlth tha provisions applicable to companies subject to the small companies, regime. These finandal statements were approved by Ihe board of Iruslees and authorised for issue on 27 February 2024, and are signed on behalf of the board by: Rev DavKI Jardine (Foundlng Dlrector) Trustae Rachel Swift (Treasurer) Trustee Tho notes on pages 15 to 25 forni part of the8e flnanclal 8tatsments. 14
Equipping For Life Ltd Company Llmitsd by Guarantee Notes to the Flnanclal Ststements Year ended 31 July 2023 G•naral Infomiatlon The charity Is a public benefft entty and a private cornpany limited by guarantee, registered In Northern Ireland and a reglstered charity in Northem Ireland. The address of the registered office 1$ 9c Argyle Business Centre. North Howard Street. Belfast. BT13 2AP. Statom•nt of compllance These flnanclal Statements have been prepared In compllance wlth FRS 102, The Flnanclal Reporting Standard appllcable In the UK and the Republ1¢ of Ireland,, the 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) (Charities SORP (FRS 102)) and the Companies Act 2006. Accourrtlng pollclefj Ba818 of pr•paratlon The financlal statements have been prepared on the hlstorical cost ba85s. as modified by the revaluation of Certain financial assets and Ilabiliti88 and investment properties measured at fair value through In¢om8 or expendfture. The financSal Statements are prepared In starllng, whlch18 the functlonal currency of the entlty. Golng concern There are no materSal uncertalntle8 about the charlty8 abfllty to contlnue. Judgom•nts and kay gourca8 of •8tlmatlon unc•rtalnty Estlmates and judgements are conllnually evaluated and ere b888d on hSstorlcal experlence and other factors. including expectation8 of future events that are believed to be reasonable under the clrcumstances, Critical judgements In applylng the entty's accountlng pollcles - There are no crltlcal ludgements In applying the charitable company's accounting polrcies. Critical accounting estimates and a88umptlons - There are no critical accountlng estlmates and assumptlons. Fund accountlng Unrestslcted funds are avaSlable for use at the discretion of the trustsas to further any of the charlty's purposes. Deslgnated funds are UnreStrted fund8 earrnarked by the trustees for particular future prclect or commitment. Restricted funds are subjected to restrictions on thelr expenditure declared by the donor or through the temis of an appeal. and fall into one of two sub-classes: restricted income funds or endowment funds. 15
Equipping For Life Ltd Company Llmlted by Guarantse Notes to the Flnanclal Ststements {conthiued) Year ended 31 July 2023 Accountlng pollcles (conthuedj Incomlng resources All incoming resources are included in the statement of financHI activities when entitlement has passed to the chaiity; it is probable that the economic benefrts associated with the transaction will flow to the charity and the amount can be reliably measured. The foll¢%iing specific policles are applied to particular categories of income: income from donations or grants is recognised when there is evidence of entitlement to the gfft, receipt 5s probable and its amount can be measured reltably. legacy income is recognised when receipt is probable and entitlement is eslablished. income from donated goods is measured at the fair value of Ihe goods unless this is impractical to measure reliably, In which case the value is derived from the cost to thè donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received rf the value can be reliably measured. No amounts are included for the contribution of general volunteers. income from contracts for the supply of sep4ices is recognised with the delivery of the contracted service. This is classffied as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned rf unspent, in which case It may be regarded as restricted. Resources expended Expenditure is recognised on an accruals basts 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 funds indudes the costs of all fundraising actmties, 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 charitab activtties. 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 refiecting the use of the resource. Direct costs attributable to a single activty are allocated directly to that activty. Shared costs are apportioned between the actbvities they contribute to on a reasonable, justifiable and consistent basis. Tanglble assets Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairnient losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impalnnent k)sses. 16
Equipping For Life Ltd Company Limlted by Guarantee Notes to the Flnanclal Statsments (condnuedj Year ended 31 July 2023 Accountlng pollcles {¢ontthueol Tanglble assets (wthu¢dJ An increase in the carrying amount of an asset as a result of a revaluatlon, Is recognlsed In other recognised gains and losses, unless it reverses a charge for impainnent that has previously been recognised as expenditure within the statemenl of financial activities. A decrease in the carrying amount of an asset as a result of revaluation. is recognised in other recognised gains and losses, except to which it offsets any previous revaluation gain, in which case the loss is slThvn within 0th6r recognised gains and losses on the statement of financial activities. Depreclatlon Depreciation is calculated so as to write off the cost or valuation of an assec less its residual value, over the useful economic Ilfe of that asset as foll5. Equipment 25% straight line Impalmient of fixed assets A review for indicators of impaimient is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount. the asset is impaired accordingly. Prior impairnienls are also reviewed for possfole reversal at each reporting date. For thè purpoges of impaimient testing. when It is not possible to astnate the recovèrable amount of an indNidual asset. an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largety independent of the cash infiovK from other assets or groups of assets. For irnpaimient testing of gooswill, the goodwill acquired in a busin&ss combination B, from the acquisition date. allocated lo each of the cash-generating units that are expected to benefft frorn the synergies of the combination, irrespective of whether other assets or liabilities of the charity are assigned lo those units. Flnanclal Instruments A financial a&set or a financial liability is recogni8ed only when the Charity becomes a paty to the contractual provistons of the instrument. Basic financial instruments are initially recognised at the amount receivable or payable including any retated 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. Debt fftstNments are subsequently measured at amortised cost. 17
Equipping For Life Ltd Company Limited by Guarantee Notes to the Financial Ststsments {¢onllnu Year ended 31 July 2023 Accountlng pollclos {conllnued) Flnanclal Instruments (conunued) Whefe investments in shares are publicly traded or thèir fair value can otheThvise be measured reliabty. the investment is subsequently measured at fair value wtth changes in fair value recognised in income arKI expenditure. All other such investments are subsequently measured at cost less impaimient. Other financial instrumenls, including derivatives, are inttially recognised at fair value. unless payment for an asset is deferred beyond nomial business temis 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 instrument9 are subsequently measured at fair value. with any changes recognised in the statement of financial activities, with the exception of hedging instnjménts in a designated hedging relationshi). Financial assèts that are measured at cost or amortised cost aré reviewed for objectiv& evidence of impairment at the end of each reporting date. If there is objectNe evidence of impairment, an impaimient loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised. For all equty instruments regardless of Signifnce, and other financial assets that are individually significant, these are assessed indildUallY for impaimient. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impaiment are recognised immediately, to the extenl that the reversal does not result in a carying amount of the financial asset that exceeds what the canying amount would ha been had the impaiment not previously been recognised. Deflned contrfbutlon plans Contributions to defined contribution plans are recognised as an expense in the period in which the related servtce 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 und. When contributions are not expected lo be settled wholly wthin 12 months of Ihe end of the reporting date in which the employees render the related service. the liabilty 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. Limfted by guarantee Equipping for Life is a company limited by guarantee and has no share capital. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity. 18
Equipping For Life Ltd Company Llmited by Guarantse Notes to the Flnanclal Statements (c¢7nthwdJ Year ended 31 July 2023 Donations and lagacles Unrestricted Restrted Total Funds Funds Funds 2023 Donatlons Donations Ardbarron Trust Donibristle Trust- Tennis Ulster Garden Villages 10,276 10,276 9,000 19,276 19.276 Unrestrthd Restricted Total Funds Furhts Funds 2022 Donatlons Donation8 Ardbarron Twst Oonibrlstle Trust- Tennis U18ter Garden Villages 7,151 1,100 8,251 9,000 105,000 10,000 132,251 85,000 10,000 111,151 20,000 21,100 Charltabl• actlvltlo8 Unre8trScted Restricted Tolal Fund8 Funds Funds 2023 Ulster Gardon Village8 Sundry 5,000 5,000 207 207 207 5.000 5,207 Unrestrthd Restrkted Totsl Funds Funds Fund8 2022 Ulster Garden Willages Sundry Investment Incom• UnreStiNed Total Funds Unrestrlcted T¢Aal Funds FurKIs Funds 2022 Income from investments 19
Equipping For Life Ltd Company Limited by Guarantee Notss to the Flnancial Statements Year ended 31 July 2023 Expenditure on charttable aGtlvftle¥ by fund type Unrestricted Funds Restricted Total Funds Funds 2023 Charitable activities Support costs 27.648 71.809 27.648 87,343 114.991 15,534 99,457 15,534 Unrestricted Funds Restricted Total Funds Funds 2022 Charilable activitses Support costs 2,539 69,749 72,288 11.507 69.749 8,968 81.256 Expendlture on charltable actlvltles by actlvfty type undertaken dire• Support costs Total funds 2023 Tolal fund 2022 Charttable activitses Govemance costs 27.648 85,531 1,812 113.179 1.812 80,056 1.200 27.648 87,343 114.991 81,256 10. Analysls of support costs Anatysis of support costs activity 1 Total 2023 Tal 2022 Staff costs Premises General ofte Finance costs 69.780 4,984 69,780 4,984 5.846 1,364 5,861 87,835 51,684 4.822 4.680 1.363 7.200 69.749 5.861 87,835 11. Net (exp•ndfturnVlnc(xne Net (expenditureyincome is stated after chargir1(credltlng). 2023 2022 Depreciati of tsngible ed assets 1.319 1.319
Equipping For Llfe Ltd Company Llmlted by Guarantee Notss to the Financlal Ststements Year ended 31 July 2023 11 Independent examlnatlon fees 2023 2022 Fees payabb lo the 1rKIepd8nt examiner for. Independent examination of the firn¢la1 statements 1,200 13. Staff costs The lotal staff costs and employee befftS for the reporting perd are analysed as foll(Avs: 2023 2022 Wages and salaries Employer contributions to pension plans 69.201 579 51,388 296 69.780 51.684 The avarage head count of employees duriNJ the year was 4 (2022: 3). The avera9e number of employees during the year is anatysed as follm: 2023 No. 2022 No. Part time equivalent No employee received employee beneffts of more than £60.000 durirwJ year (2022: Nil). Koy Management Polsonnel Key management personnel include all persons that have authority and responsibility for planning, directing and controlling the actrvitses of the charity. The total compensation paid to key management personnel for SereS provided to the charity was £36.654 (2022:£34.632). 14. Tntstee remuneratkn and expenses As a member of the lety of Saint Franci5, Brother David Jardine (founder and trustee of Equipping for Life Ltd) has taken a VI of povety and is not in a receipt of a salary. He is paid expenses by Equtpping for Life Ltd and in the year errfled 31 Juty 2023 received £139 {2022:£0}, £0 of which was from restri received from this wrp05e (2022: £0). th these exceptKins. there were no trustees, remuneratKJn, berts or expenses for the year ended 31 Juty 2023 and no tru81ee received paymènt for professional or other serVIS supplied to the dritable c(xnpany in the pericwj.
Equipping For Life Ltd Company Llmitsd by Guarantee Notss to the Flnancial Statements Ccothwd) Year ended 31 July 2023 q5. Tangible fixed assets Equlpment Cost At 1 August 2022 and 31 Juty 2023 Depreclatlon At 1 August 2022 Charge for the year At 31 Juty 2023 Carrylng amount At 31 July 2023 At 31 July 2022 5,275 2.436 1,319 3,755 1,520 2,839 16. Debtors 2023 2022 120 Other debtors 120 17. Credltors: amounts falllng due wlthln one year 2023 2022 Accruals and deferred income Social security and ¢ther Laxes 24.820 869 2.895 750 25.689 Pensions and other post retlrement beneffts Dafined ¢ontrlbuti•)n plans The amount recognised in income or expeThliture as an expense in ralation to defined contribution plans vrds £579 {2022: £296). 22
Equipping For Life Ltd Company Llmlted by Guarantee Notes to the Flnanclal Ststements {Mnthiueal Year ended 31 July 2023 19. Analysls of charltable funds Unrestrlcted funds At 1 August 202 At Transfers 31 July 2023 In¢ome Expendlture General funds Designated Funds 156,430 50.000 206,430 19,483 (99,457) {50,000) 50,000 26.456 100,000 126.456 19,483 (99,457> At 1 AugU8t 202 Income Expandlture Transfer8 31 July 2022 General funds Deslgnated Funds 142,523 25,000 111,195 (72,288) (25,000) 25.000 156.430 50.000 206,430 167,523 111,195 (72,288) The Reading Programme is the core aspect of Equipping for LI'S worf( In the comrnunlty. Over the past 18 months the number of schools partnering with EIL has almost trebled, wfth nearly 250 children per week havlng 30-minutes sessions with our Volunteer Tutors. These sessbns offer invaluable opportunities for one-tone reading and mentoring support to the children. £50,000 has been designated to enable the Reading Programme to continue th18 year.
Equipping For Life Ltd Company Limited by Guarantee Notss to the Flnanclal Statements {¢onthiu Year ended 31 July 2023 19. Analy818 of charltable funds (Mn¢th4wdJ Restrlcted funds 1 August 202 At Tran8fer8 31 July 2023 Income Expenditure Ardbarron Trust- books Various- Parents, food hampers Dephne Hewitt- Tennis Donibri8tle Trust- Tenn18 Ulster Garden Villages- salarfe$ & rent 621 621 12.419 {10,534) 1,885 5,000 5.000 (5,000) (15,534) 13.040 2,506 1 August 202 At Transfers 31 July 2022 Incorne Expenditure Ardbarron Trust- book8 Varlous- Parents, food hamper8 Dephno Hewrtt- Tennis Donlbrlstle Trust- Tenni8 U18ter Garden Village8- salarles & rent 287 100 (387) e21 621 1,000 20,000 (1,000) (7,581) 12,419 21.100 (8,968) 13,040
Equipping For Life Ltd Company Limlted by Guarantee Notes to the Financial Ststsments Year ended 31 July 2023 20. Anatysis of not assets between funds Unrestri Restricted Total Funds Funds Funds 2023 Tangible fixed assds Current assets Creditors less than 1 y&qr Net assets 1.520 145.625 (25.689) 121.456 1.520 153.131 (25,689) 128.962 UnRstricled FurKIs Restricled Totsl Funds Funds 2022 Tangible fixed assds Current assets Creditors less than 1 year Net assets 2.839 207.236 (3,645) 206.430 2,839 220.276 {3,645) 219.470 13,040 13.040 The charitable company beneffts from the corrtribulion of unpaKI volunteers. including Volunteer Tutors. Their contribution is not accounted for due to the lad( of a reliabb basis of measurement. The tutors, training is provKled intemally. supplnted by training provided free ol charge by NICVA and churches. The charitable cpanY also benefts from the maintenance of ts website by Alan Graham. a volunteer who has gained some eXPerce in this area. 25
Equipping For Life Ltd Company Limited by Guarantee Management Infonnation Year ended 31 July 2023 The following pages do not forni part of the financial statwnents. 26
Equipping For Life Ltd Company Limited by Guarantee Detailed Statement of Financial Activities Year ended 31 July 2023 2023 2022 Income and endowments Donatlons and legacles Donations Ardbarron Trusl Donibristle Trust- Tennis Ulster Garden Willages 10,276 8.251 9,000 105,0 10.000 19.276 132.251 Charltablè actlvltles Ulster Garden Villages Sundry 5.000 207 5.207 Investment Income Income from investments Total Income 24.483 132.295 27
Equipping For Life Ltd Company Llmited by Guarantee Notes to the Detalled Statement of Flnancial Activities Year ended 31 July 2023 2023 2022 Expendlture on charStable actlviti08 Charftable acllvltles Actlvitles undertaken dlrnctly Activity costs - restricted lennis Activity costs - restrtcted Actlvlty costs - unrestricted Brother David expenses Marketlng, Publicity and Fundraising Stsff expense8 10,459 8,581 1.008 1.918 11,445 139 5,253 352 27,648 11.507 Support Costs S818des and penslon Pension c08ts Rent Heat & Light Subscrlptlons Insurance Prlnting and Statlonery Postage Office equSpment General expenses Govemance c08t8 Telephone Bank charge8 Depreciation Consultancy fee8 Training Broadband Repairs and Maintenance 69,201 579 3,570 51.388 296 3,570 469 190 803 810 624 851 215 1,502 573 1,512 45 1,319 4,000 43 1,319 6,000 233 240 330 85,531 68,549 Governanc• co8t8 Govemance costs - accountancy fees 1,812 1,200 Expendltur• on charltablo actlvltleg 114.991 81,256 29