COMPANY REGISTRATION NUMBER: N1670029 CHARITY REGISTRATION NUMBER: NIC108165 Ladybirds Children's Services Company Limited by Guarantee Financial Statements 31 March 2024 'ADIUXYC2* 2711212024 COMPANIES HOUSE
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Ladybirds Children's Services Company Limited by Guarantee Financial Statements Year ended 31 March 2024 Page Trustees, annual report (incorporating the director's report) Independent examiner's report to the trustees Statement of financial activities (including income and expenditure account) Statement of financial position 10 Statement of cash flows 11 Notes to the financial statements 12-19
Page 1 Ladybirds Children's Services Company Limited by Guarantee Trustees. Annual Report (Incorporating the Director's Report) Year ended 31 March 2024 The trustees, who are also th8 directors for the purposes of company law, present their report and the unaudiled financial statements of the charity for the year ended 31 March 2024. Reference and administrative details Registered charity name Ladybirds Children's Services Charity regi8lratlon number NIC108165 Company reglstratlon number N1670029 Principal offlce and registered 357 Old Belfast Road office Bangor BT191RB N.Ireland The trustees Shona Kelly Karin Gilkinson Georgina Murray Nicole Weir Independent examiner RBCA Ltd Linenhall Exchange 26 Linenhall Street Belfast BT2 8BG Structure> governance and management Ladybird Children's Services is governed by a Memorandum and ArtIGles of Association and is a Company Limited by Guarantee wllh charitable status. LADY81RDS is registered with HMRC for charitable purposes. On appointment to the Board of Directors, the Trustee receives induction training lo ensure they are aware of the responsibility of their post. The roles and responsibilities of the Board of Directors are contained in the Board Induction Manual and detail the strategic level of their decision making powers. Operational matters are delegated lo the Operations Manager who reports to the Board at meetings held at least 6 times per year. There are 8oard Sub-Groups including Staffing and Finance. It is a family and childcare cenlre, registered wlth the South Eastern Trust, managed day to day by an Operations Manager and a team of qualified staff. It is open Monday io Friday, 07.30 am to 17.30pm.
Page 2 Ladybirds Children's Services Company Limited by Guarantee Trustees, Annual Report (Incorporating the Dlrector's Report) (contlnued) Year ended 31 March 2024 Objectives and activities The objectives of LADYBIRDS are to promote any charitable purpose for the benefit of women, children and family's resident in the Ards North Down region lo improve the conditions of their lives. In particular to: l. Providing high quality daycare and childcare and parenting in a safe and nurturing environment and lo encourage ané develop their abilities and confidence by organising activities Ihal will enhance their health and wellbeing and their social and intellectual development. 2. Providing facilities and recreational and educational activities for Ihe care and development of children and young people during out-of-school hours and school holidays. 3. Increasing parental recognition ofthe needs of children and young people and the value ofa structured childcare provision and encouraging them to become involved in the activities of the Charity, 4. Advance educatlon, relleve poverty and promote good health by the provlsion of advice and support to parentslguardians and offer training programmes aimed at developing good parenting. 5. Contributing to the profession81 development of those working in daycare and childcare. Public Benefits Statement & Declaratlon The public benefit for Ladybird Children's Services are for Ihe purposes of benefiting children, parentslguardians and families resldent in the Ards North Down area are'.- Enhance the development and education of children and young people Enhance social and Inlellectual development of the children and young people taking part in the day and childcare activities Improve health. confidence and capabillties of parenlslguardians who take up offered training and support Provide facilities and recreational and educational activity for children and young people during out of hours and school holidays Encouraging parents and guardians to become involved in the activity of the charity Developing the skills and ability of the staff Provide advice and support lo parents and guardians and offer training aimed al providing good parenting No harm arises from these purpos8s. Incidental benefit may arisefrom transferable skills Iralnlng offered to Board members lo fulfil their duties. Resenies Policy Ladybirds reserves policy aims to cover a minimum of Ihree months costs in order to meel unexpected demands, a delay in receiving funding and to give breathing space should there b8 an unfavourable change to government policy. Regular budgetary control allows us to monitor our financial well being on a monthly basis. Reserves are restricted to ensure we can also meet any redundancy liability for employed staff who complete fixed term contracts.
Page 3 Ladybirds Children's Services Company Limited by Guarantee Trustees, Annual Report (Incorporating the Director's Report) (conlinuedj Year ended 31 March 2024 Objectives and actlvit5es {eonllnu8d) LADYBIRDS has been providing onsite childcare, playgroup, mums and lots groups, parenting programmes and early intervention initiatives for 30 years, formerly operating as a community association, lo ensure caring responsibilities are not a barrier to engagement on programmes for women. It has now registered as full time daycare with South Eastern Healthcare Trust, to widen participation and improve Ihe programmes and services provided to the children. Care is provided for children who attend programmes of support and for supporting women who are returning to Ihe workplace and who chose to support a social economy childcare setting. Provision is split into relevant age categories and rooms - 8abies aged 0-2 years, Wobblers aged 2-3, pre-pre-school aged 34 and pre-school aged 34. Plans are in place to expand lo offer afterschool service and to look for a second venue lo extend the places available to parents due to the current waiting list. Ladybirds Childcare unit works closely with Early Years organisation to ensure a quality accessible service In Kilcooley and Ards North Down, for the community sector. LADYBIRDS provides a community resource for children. and advances early years and play development through the delivery ofchildcare programmes, parenting courses and initiatives, mentoring and guidance. It aims to ensure all children reach their developmental milestones and full potential through fostering a nurture based play programme, dellvering evidence based programrnes such as Media Initiative and Incredible Years which supports diversity and positive parenting trainlng for the Early Years sector. 1. Provide a welcoming space lo deliver positive play development to enabl8 all children lo meet their developmental milestones and meat th8ir full potential. 2. To deliver positive parenting programmes for the relief of povety and disadvantage. 3. Ensure children feel safe and secure and valued. 4. Welcome all parents regardless of background, religion, race, marital status, political belief, sexual orientation, gender, or disability. 5. Promote equal opportunity and gender equality. 6. Providing safe and satisfying group play, in which parents are encouraged lo take part in the development of the lives of their ¢hildr8n. 7. Increase parental recognition of the needs of children & young people and the value of a stwctured childcare provision. 8. Encouraging parental recognition of the needs of children & young people and the value of structured childcare provision designed to meet their needs. 9. Promoting and supporting children & young people in developing Good R81ations within their community and in other communities. 10. Promoting activities that will enhance the health & well-being of children & young people. 11. Doing all such other lawful things as are necessary for or conductive to the attainment of the above aims.
Page 4 Ladybirds Children's Services Company Limited by Guarantee Trustees, Annual Report (Incorporating the Director's Report) (¢ontlnued) Year ended 31 March 2024 Objectives and activities (¢oniinu) Special Needs Support Ladybirds provides support for children wilh additional and special needs. It has facilities including a sensory garden with musical wall, acrylic mirror panels, wizzy dizzy to help with physical and sensory needs, water tray with different levels and mud kitchens to explore different textures and sensory train where we will grow our own food and experience colours and smells. Our sensory room including bubble tower. Infinity Tunnel. softie with fibre Optic lights, activity wall panels, weighted blanket, selection of sensory mobile tactile toys, fibre optic rug, projector which displays scenes onto the wall, interactive keyboard and colour changin9 bench and a sensory mood cube. The centre will conlinue lo develop th8 sensory programme to become a centre of excellence for children with additional needs. Out of School Support l Holiday Clubs Ladybirds provides out of school support in the form of Breakfast Clubs, Afterschool's Clubs and Holiday Clubs and Summer Schemes to support children and working parents. The schemes are focused on play development and enGouraging children reaching their full polenlial. developing their confidence and self-esleem. Summer Schemes are based in disadvantaged areas targeting hard lo reach families who otherwise would not avail of summer scheme provision. Achievements and performance Staff TralnSng Staff continue to participate in Continuous Personal Development (CPD) throughout the year, aligned to their Personal Development Plan. Training included= Safeguardlng Paedialric First Aid Manual Handling Level 2 Award in Food Safety & Catering CCLD Level 5 Childcare Leadership & Development CMI Level 3 Project Management Food Allergy & Intolerance Adverse Childhood Experiences Level 1 Level 2 Trauma Sensilive Approach SEN Level 2 Level 5 Leadership and Management Health & Wellbeing Working in partnership with the Public Health Agency and the South Eastern Healthcare Trust. LADYBIRDS delivered a varied health and wellbeing and health promotion programme for both children and parents. This included nutritional advice, cooking on a budget, physical activity, therapeutic horticulture and 8rls and crafts for positive mental health. Ladybirds also operates an onsite Foodbank which is assisting the issues of Food Poverty, which were heightened during COVID 19.
Page 5 Ladybirds Children's Services Company Limited by Guarantee Trustees. Annual Report (Incorporating the Director's Report) {continue<lJ Year ended 31 March 2024 Achiev•ments and performance (contlnu•dJ Parenting & Young Women Ladybirds has developed a comprehensive parenting support programme which is delivered face to face and digitally. It provides an intensive support programme for young women aged 16-25 who are at risk of not reaching Iheir full potential and parents who require additional support and friendship. Ending Violence Against Women & Girls Ladybirds works with the South Eastern Domeslic Violence Partnership, a consortium of organisations supporting victims and sutvivors of domestic abuse and coercive control. The organisation responded lo the consultation on the Nl Executive policy development lo ensure the voice of local families, women and girls were heard at a regional and pollcy making level. Lobbying & Advocacy The organisation lobbies local, regional and national Government. meeting with decision makers and policy lead, to promote the support of families and and children in the Ards and North Down region, on key areas which are impacting local families Including poverty, affordable childcare, early years support and children wSth additlonal needs. Promoting Intergenerational Engagement Ladybird Children's Services recognises the valuable contribution older people provide lo the local community and utilise thelr ski15s through our inlergenerational programmes. Ladyblrds currenlly partners with Oakmounl Residential Home, lo develop unclerslanding of intergenerational working, older peoples issues, respect and understanding. All generations are included in our family events, which have been paused due to the Covid situation. Education & Training Parental educational support Is encouraged through our parenting programmes. This is provided both face to face and digitally via Zoom and Teams lo maximise engagement and participation. We facilitate employability support, CV building and job search for those parents who are seeking lo escape the poverty trap.we have a dedicated Parenting Room in the Ladybirds Centre. Cost of Living Crisls Interventlon As the cost of living crisis Impact was stlll belng felt. with ongoing challenges In the Early Years sector. LADYBIRDS remained at the forefront for planning for supporting vulnerable clients- new and existing in relation to their health and wellbeing. Welfare packs to assist personal hygiene for women, children, men and baby boxes were provided for client referrals, working in partnership with health professionals, community organisalions and concerned residents. The centre continues to offer Community Fridge Food Support programme and worked with Ards and North Down Borough Council as a distribution partner during their Hardshlp programme during the winter of 2023. Financlal review Restricted reserves are used for the purposes intended as per the conditions of funding for each fund. LADYBIRDS'S restricted reserwes balance related to the liming differential receipt of funding and expenditure. There reserves should balance at zero when programmes are completed. There is 2 designated fund for the building project, to future proof the organisation and remove the ongoing risk of premises being sold. Unrestricted reserves are used for items in keeping with the organisalions charitable aims and objectives including redundancy liability. At the end of the current year, the Charity shows a loss of £15.414 which includes expenditure which has been capilalised for a period in the future.
Page 6 Ladybirds Children's Services Company Limited by Guarantee Trustees. Annual Report (Incorporating the Director's Report) {continu¢dJ Year ended 31 March 2024 Plans for future periods LADYBIRDS aims to a) Continue refurbishment of the building to implement an enhanced Children & Family Centre service for Ards North Down and strengthen the rural services for women, children and families in the Borough. b) Ladybirds is conlinuing to work with Nl Housing Executive to develop an onsite provision in Kilcooley estate cl Progress the digitalisation project to improve access to LADYBIRDS programmes via online platforms. dl Develop social economy to help sustain the organisallon, maklng it less relianl on grant income. el Secure funding to upgrade Ihe building Funds held as custodlan trustee LADYBIRDS does not hold funds on behalf of others. Trustees ResponsSbllltleg Statemont The Trustees who are also Directors of LADYBIROS for the purposes of Company Law are responsible for preparing the Trustees Report and the final statements in accordance with the applicable law and United Kingdom Accounting Standards (UK Generally Accepted Accounting Practice). Company law requires the Charity Trustees lo prepare financial statements for each year which gives a true and fair view of the state of affairs of the charitable company and the incoming resources and applicalion of resources, including the income and expenditure for that period. In preparing these financial stalemenls, the Trustees are required to: Selecl suitable accounting policies and then apply them consistently Observe the methods and principles in the Charities SORP (FRS 1021 Make judgements and accounting estimates Ihal are reasonable and prudent State whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements Prepare the financial statements on the going concem basis unless it is inappropriate to presume that the charity will continue in business The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charities transactions and disclose with reasonable accuracy at any lime the financial position of Ihe charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Charity and henGe for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Page 7 Ladybirds Children's Services Company Limited by Guarantee Trustees. Annual Report {Incorporatlng the Director's Report) (cononued) Year ended 31 March 2024 Small company provisions This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption. 24 Dec 2024 The trustees. annual report was approved on . trustees by.. and signed on behalf of the board of SQ Shona Kelly Treasurer Nicole Weir Trustee
Page 8 Ladybirds Children's Services Company Limited by Guarantee Independent Examiner's Report to the Trustees of Ladybirds Children's Services Year ended 31 March 2024 I report to the twstees on my examination of the financial statements of Ladybirds Children's Services ('the Charity.) for the year ended 31 March 2024. Responslbllltles and basis of report As the trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparalion of the financial statements in accordance with the requirement5 of Charities Act (Northern Ireland) 2008 (the'2008 Act,) and the Companies Act 20061'the 2006 Act,). You are satisfied that the accounts of the company are not required by Charity or company law lo be audited and have chosen instead to have an independent examination. Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity's financial slalements as carried out under section 65 of the 2008 Act. In carrying out my examination I have followed the general Directions given by the Charity Commission for Northern Ireland under section 65(9){b) of the 2008 Act. Independent examiner's statement I have completed my 8xaminalion. I conflrm thal no matters have Com8 to my attention in connection with my examination giving me cause to believe that in any material respect: accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act., or the financial statements do not accord with those records: or the financial statements do not comply with the accounting requirements of section 396 01 the 2006 Act other than any requirement th31 the accounts give a 'true and fail view which is not a matter considered as part of an independent examination., or the financial statements have not been prepared in accordance with the methods and principles of the Slalement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in Ihe UK and Republic of Ireland {FRS 102). I confirm that there are no other matters to which your attention should be drawn to enable a proper understanding of the accounts to be reached. ri ¥vA BrSan Stewart, for and on behalf of RBCA Ltd Independent Examiner Chartered Accountants Linenhall Exchange 26 Linenhall Street Belfast BT2 8BG 24 Dec 2024 Date......
Page 9 Ladybirds Children's Services Company Limited by Guarantee Statement of Financial Activities (including income and expenditure account) Year ended 31 March 2024 2024 Unrestricted funds 2024 Restricted funds Total funds 2024 2023 Total funds Note Income and endowments Donations and legacles Other trading activities Total income 50,945 50,945 101,517 152,462 23,689 110,646 101,517 101,517 50.945 134,335 Expenditure Expenditure on charitable activilies Total expendlture 112,748 55,128 167,876 139,279 112,748 55,128 167,876 139,279 Net (expenditure)lincome and net movement in funds (11,2311 14,183) (15,414) (4,944) Reconciliation of funds Total funds brought forward Total funds carried fOrard 14,294 10,660 24,954 29,898 3,063 6,477 9,540 24,954 The slalemenl of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. The notes on pages 11 to 19 form part of these financial ststements.
Page 10 Ladybirds Children's Services Company Limited by Guarantee Statement of Flnancial Position 31 March 2024 2024 2023 Note Fixed assets Tangible fixed assets 12 12,546 9,154 Current assets Debtors Cash al bank and in hand 13 2,400 16,657 19,057 2,400 34,721 37.121 Creditors: amounts falling due within one year Nel current Iliabilltles)lassets Total assets less current Ilabililies 14 22,063 21,321 15,800 (3,006) 9,540 24,954 Nel assets 9,540 24,954 Funds of the charity Restricted funds Unrestricted funds 6,477 3,063 10,660 14,294 Total charily funds 16 9,540 24,954 For the year ending 31 March 2024 Ihe charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. Directors, r8sponsibililies: The members have not required the company to obtain an audit of Ils financlal statements for the year in question in accordance with section 476., The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and Ihe preparation of financial slatements. These financial statements have been prepared in accordance with the provisions appllcable to companies subject lo the small companies, regime. These financial statements were approved by the board of trustees and authorised for issue on 24.Dee.2024... and ar8 signed on behalf of the board by.. SQ KJMoLf Shona Kelly Treasurer Nicole Weir Trustee The notes on page$ 11 to 19 fomi part of thèsè flnanclal statements.
Page 11 Ladybirds Children's Services Company Limited by Guarantee Statement of Cash Flows Year ended 31 March 2024 2024 2023 Cash flows from operatlng actlvities Net lexpenditurellincome (15,414) (4,9441 Adjustments for.. Depreciation of tangible fixed assets Interest payable and similar charges Accrued (income)lexpenses 3,136 506 2.288 515 {2) Changes in.. Trade and other debtors Trade and other credilors (1,800) (2,625) 6,568 742 Cash generated from operations (11,030) Interest paid Nel cash (used in)Ifrom operating activities {5061 (11,536) {515) (7,083) Cash flows from investing activities Purchase of tangible assets Net cash used in investing activities (6,528) (6,528) (280) {280) Net d•crease in Cash and cash equlvalents Cash and cash equivalents at beginning of year Cash and cash equivalents at end of year (18,064) 34,721 (7,363) 42,084 16,657 34,721 The notes on pages 11 to 19 form part of these financial statements.
Page 12 Ladybirds Children's Services Company Limited by Guarantee Notes to the Financlal Statements Year ended 31 March 2024 General infomiation The charity is a public benefit entity and a private company limited by guarantee. registered in N.Ireland and a registered Charity in Northern Ireland. The address of the registered office is 357 Old Belfast Road, Bagor, BT19 1 RB, N.Ireland. Stalement of compliance These fSnanGial slalements have been prepared In compliance with FRS 102, 'Th8 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 applicable in the UK and Republic of Ireland (FRS 102) (Charities SORP (FRS 102)) and th8 Companies Act 2006. Accounting policies 8a818 of preparation The financial stalements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investmeni properties measured at fair value through income or expenditure. The financial statements are prepared in sterling, which is the funclional currency of the entity. Golng concern There are no material uncerlainlies about the charity's ability to continue. Judgements and key sources of estlmatlon uncertainty The preparation of the financial slatements requires management to make judgements, estimates and assumptions that affect the amounts reported. These eslimales and judgements are continually reviewed and are based on experience and other factors, including expectations of future evenls that are believed to be reasonable under the clrcumstances. Fund accounllng Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes. Designated funds are unreslricled funds earmarked by the trustees 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 of0 sub-classes.. restricted income funds or endowment funds.
Page 13 Ladybirds Children's Services Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 31 March 2024 Accountlng pollcles (contlnuod) Incoming resources 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 lo 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 ils amount can be measured reliably. legacy income is recognlsed when recelpi is probable and enlitlemenl 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 lo the donor or the estimated resale valuè. Donaled facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the Conlribution of general volunteers. income from contracts for the supply of seNices is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for il to be spent on a particular purpose and returned if unspent, in which case il may be regarded as restricted. Resources •xpended 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 8clivilies to which il relales: expenditure on raising funds 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 relaled lo 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 resource. Direct costs attributable lo a single activity are allocated directly lo that activity. Shared costs are apportioned between the activities they contribule to on a reasonable, justifiable and consistenl basis. Tangible assets Tangible assets are initially recorded al cost, and subsequently stated at Cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at Ihe fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Page 14 Ladybirds Children's Services Company Limited by Guarantee Notes to the Financial Statements (¢ontinued) Year ended 31 March 2024 Accounting policies {eOnlinuéd) Tangible assets (eontlnu8d) An increase In the carrying amount of an asset as a result of a revaluation, is recognised in other recognised gains and losses, unless it reverses a charge for impairment that has previously been recognised as expenditure within Ihe statement of financial activities. A decrease in the carrying amount of an asset a5 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 shown within other recognised gains and losses on the statement of financial activities. Depreclatlon Oeprecialion is calculated so as to write off Ihe cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows.. Equipment 20 % reducing balance Impalrment of flxad assets A review for indicators of impairment 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 impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when il is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of thecash- generaling unit lo which the asset belongs. The cash-generating unil is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from olher assets or groups of assets. For impaimient testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generaling units that are expected lo benefit from the synergies of the combination, irrespective of whether other assets or liabililies of the charity are assigned to those units. Flnancial instruments A flnancial asset or a financial liability is recognised only when Ihe charity becomes a party lo the contractual provisions of Ihe 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 lo be paid or recelved and not discounted. Debt instruments are subsequently measured at amortised cost. Where inveslmenls in shares are publicly traded or thelr fair value can otheise be measured rellably, the investment is subsequently measured at fair value with changes in fair value fecognised in income and expenditure. All other such investments are subsequently measured at cost less impairment.
Page 15 Ladybirds Children's Services Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 31 March 2024 Accounllng pollcles (contlnu•d) Financial instruments {conllnuèdJ Other financial instruments, including derivatives, are initially recognised al fair value, unless paymenl 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 assel 15 measured al the present value of the future paymenls discounted al 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 relationshlp. Financial assets th81 are measured at cost or 8mortised cosl are reviewed for objectlve evidence of impairment al 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 finanGial activities in which the initial gain was recognised. For all equity instruments regardless of significance, and other financial assets that are indlvidually 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 impaimienl are recognised immediately, to the extent that the reversal does nol result in a carrying amount of th& financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised. Deflned contribution plans Contributions lo 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 lo a reduction in future payments or a cash refund. When contributions are not expected lo be settled wholly within 12 months of the end of the reporting dale 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. Llmlted by guarantee The company is limited by guarantee and has no authorised or issued share capital. The company has charitable status accepted by Ihe Charity Commission for Northern Ireland under reference NIC670029 Donatlons and legacies Restricted Total Funds Funds 2024 Restrlcted Total Funds Funds 2023 Donatlons Donations 15,762 15.762 Grants Grants receivable 50.945 50,945 7,927 7,927 50,945 50,945 23,689 23.689
Page 16 Ladybirds Children's Services Company Limited by Guarantee Notes to the Financial Ststements (continued) Year ended 31 March 2024 Other trading activities Unrestricted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Creche Income 101,517 101,517 110,646 110,646 Expenditure on charitable activities by fund type Unrestricted Restricted Total Funds Funds Funds 2024 Charitable Actlvities 110,712 2,036 112,748 55,128 165,840 2.036 55,128 167,876 Unrestricted Funds Restrlcted Total Funds Funds 2023 Charitable Activities Support costs 108,435 1.955 28,889 137,324 1.955 110.390 28,889 139.279 Expenditure on charitable activities by activity type Activities Activities Total funds undertaken undertaken 2024 dlrectly dlrectly Total fund 2023 Charitable Activities Governance costs 165,840 165,840 2,036 137,324 1.955 2.036 165,840 2,036 167,876 139.279 Net (expenditure)lincome Net (expendilurellincome is stated after chargingl{creditingl'. 2024 2023 Depreciation of tangible fixed assets 3,136 2,288 10. Staff costs The total staff costs and employee benefits for the reporting period are analysed as follows.. 2024 2023 Wages and salaries Employer contributions to pension plans 95,692 1,978 97,670 79,084 1.635 80,719
Page 17 Ladybirds Children's Services Company Limited by Guarantee Notes to the Financial Statements {conlinuÈd) Year ended 31 March 2024 10. Staff costs (contlnu•d) The average head count of employees during the year was 12 {2023.' 11). No employee received employee benefits of more than £60,000 during the year (2023.. Nill. 11. Trustee remuneration and expenses No Trustees have received renumeration in the year. 12. Tangéble fixed assets Equipment Total Cost At 1 Aprll 2023 Additions 13,901 6,528 13.901 6,528 At 31 March 2024 20,429 20,429 Depreciation At 1 April 2023 Charge for the year At 31 March 2024 4,747 3.136 4,747 3,166 7,883 7,883 Carrylng amount At 31 March 2024 12,546 12,546 9,154 Al 31 March 2023 9,154 13. Deblors 2024 2023 Other debtors 2,400 2,400 14. Credltors: amounts falllng due wlthln one yèar 2024 2023 Accruals and deferred income Social security and other taxes Other Creditors 3,410 5,515 13,138 3.409 774 17,138 22,063 21,321 15. Pensions and other post retlrement benefits Oeflned contribution plans The amount recognised in income or expenditure as an expense in relation to defined contribution plans was £1,978 {2023.' £1,635).
Page 18 Ladybirds Children's Services Company Limited by Guarantee Notes to the Financial Statements {c4ntinu¢d) Year ended 31 March 2024 16. Analysis of charltable funds Unrestricted funds At 31 March 2024 Al 1 Aprll 2023 Income Expenditure General funds 14,294 101,517 (112,748) 3,063 At 31 March 2023 At 1 AprS12022 Income Expenditure General funds 14,038 110,646 (110,390) 14,294 Restrl¢ted funds At 31 March 2024 At 1 Aprll 2023 Income Expenditure Restricted Fund 10.660 50,945 (55,128; 6,477 Al 31 March 2023 At 1 April 2022 Income Expenditure Restrlcted Fund 15,860 23,689 128,889) 10,660 17. Analysis of net assets between funds Unrestricted Restrlcted Total Funds Funds Funds 2024 Tangible fixed assets Current assets Creditors les5 than 1 year Net assets 12,546 12,546 37,121 (22,063) 27,604 (22,063) Unrestricted Restricted Total Funds Funds Funds 2023 Tangible fixed assets Current assels Creditors less than 1 year Net assets 9,154 26,461 (21,321) 14,294 9,154 37,121 (21,321) 24,954 10.660 10,660
Page 19 Ladybirds Children's Services Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 31 March 2024 18. Analysis of changes In net debt At Al 1 Apr 2023 Cash flows 31 Mar 2024 Cash at bank and in hand 34,721 (18,064) 16,657