Company Registration Number: N1665042 Charity Number: NIC108216 cafe incredABLE Annual Report Year ended 31" March 2024 Daly Park & Company Ltd Chartered Accountsnts and Registered Auditors 4 Carnegie Street Lurgan County Annagh BT66 6AS Northern Ireland
IncredABLE Enterprises IA Company limited by guarantse, not having a Share capital) CONTENTS Page Reference and Administrative InfOallOn Trustees, Annual Report Statement of Trustees, Responsibilities Independent Auditorfs Report 8-10 Statement of Financial Activities 11 Balance Sheet 12 Statement of Cash Flows 13 Notes to the Financial Statements 14-19
IncredABLE Enterprises IA eompany limttÈd by guarantee, not having a sharè ¢apitall REFERENCE AND ADMINISTRATIVE INFORMATION Trust99S Edwin Graham Alan Turtle Company Sgcrgtary Nigel Hampton Charity Numbgr in Northern Ireland NIC108216 Company Registratlon Number N1665042 Registered Office and Prlnclpal Address 162 Portadown Road Richhill Co. Amiagh BT619LJ Northern Ireland Auditors Daly Park & Company Ltd Chartered Aceountanls and Registered Auditors 4 Carnegie Street Lurgan CountyAmagh BT66 6AS Northern Ireland Prin¢ipal Bankers Danske Bank 4548 High Street Portadown Co.Armagh BT62 1 LB Northem Ireland
IncredABLE Enterprises {A company limited by guarantee, not havlng a sharè capital) TRUSTEES. ANNUAL REPORT for the financial year ended 31 March 2024 The trustees present their TTUStees' Annual Report. combining the Directors. Report and Trustees, Report, and the audited financial ststements for the financial year ended 31 March 2024. The financial statements are prepared in accordance with the Companies Act 2006. FRS 102 "The Financi81 Reporting Standard applicable in the UK and Republic of Ireland" and Aceounling and Reporting by Charities.. Statement of Recommended Practice applicable lo charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 1021. The Trustees, Report contains the information required lo be provided in the Trustees, Annual Report under the Statement of Recommended Praeli¢e {SORP) guidelines. The trustees of the charity are also charity trustees for the purpose of charity law and under the charity's constitution are known as members of the board of trustees. In this report the trustees of IneredABLE Enterprises present a summary of its purpose, governance, activities. achievements and finances for the financial year 31 Mar¢h 2024. Misslon, Objectives and Strategy Objeetlves Aims & Objectives IncredABLE Enterprises empowers individuals with leaming difficulties lo make choices. discover tslenls, realise passions, participate in community and become more independent. The organisation voluntarily runs a number of Cafes that provide training, education and employment opportunities for people with autism andl or leaming difficults. The organisation's aim is to help people with autism andl or leamin9 drfficullies to feel supported, valued and included whilst obtaining employment. structure. Governance and Management structure The charity was set up in October 2019 8$ a eompany limited by guarantee Constituted under the Companies Act 2006 and is also registered with the Charity Commission for Northem Ireland as charitable comp8ny under ref NIC108216. The company is governed by ils Memorandum and Articles of Association with the principal office of the company located at 162 Portadown Road. Richhill. Trustees Trustees are recruited and appointed al its Annual General Meeting. The protrss for the appointment of Trustees is outlined in the governing documents. The directors of the organisation ale also charity trustees for the purposes of charity law. Each new Iruslees undergoes an induction process and training in good governance. Tho trustees of the company are its directors for the purposes of charity law. IncredABLE Enterprises is managed by board of voluntary trustees with experience working in the charitable sector. Trustees are elected and appointed each year and can include representatives from some of the regional stalulory agencies with expertence working with individuals with autism I leaming difficulties. Trustees re1ve an inductton process which includes an explanation of the current and future plans for acliMty within the charity and guidance on governance and responsibilities of trustee. The day lo day management of incredABLE Enterprises is delegated lo a management team headed by Nigel Hampton. CEO. which report5 to the Board on a regular basis. The ¢harity'$ main risk assessed by the board is cashflow and the ability of the company to meet payments when they fall due. A reserves poliey ha$ been developed to help smooth cashflow pressure in circumstances where funding ceases or is delayed. Review of A¢tivitios, Achievgments and Perfomiance Café incredABLE @ Jelhro Our café in the Jethro Centre Is wnning strong, open 5 days a week offering made to order meals from carefully-crafted monu. Additionally. Café incredABLE caters for internal Jethro Centre clients as well as outside group$ regularly. giving participant trainees the opportunity lo learn catering in addition to cooking, serving. using the till. and more. Café incredABLE @ Jethro decreased total sales by 5% over the 2023-24 financial year, serving 17.112 ¢uslomer transactions, employed 4 people with a learning disability andlor Autism, and facilitated a further 4 people in voluntary plaoment.
IncredABLE Enterprises IA company limtted by guarantèè, not havlng a share rapita TRUSTEES. ANNUAL REPORT for the financial year ended 31 March 2024 Café incredABLE @ South Lake Our flagship café in South Lake Leisure Centre in Craigavon also continues to shine. We are proud of the service we offer al SLLC, and we are even moTe proud that this café, in addition lo having become a community hub, continues to be a place where we offer vocational training. employment, and meaningful daytime activity for individuals with a learninglintelleelual disability andlor autism within our café spas. Our customer base eonlinues lo remain loyal, and we serve as many people who come to the South Lake Leisure Centre just for a coffee or breakfast as we do those who are in the SLLC already for their own purposes and stop by for refreshment before or after. In March 2024 not only did we continue to trade as nomial bul also provided ¢alerrng for the Special OlympiGS Ireland Winter Games 2024, which resulted in our busiest weekend of trading since opening our doors in November 2020. Café incredABLE @ South Lake increased the lolal sales by 8% over the 2023-24 financial year, seNing 146.027 customer transactions, employing 9 people with a learning disability andlor Autism, and facilitating a further 9 people in voluntary placement. Café incredABLE @ Banbridge Leisure Centre Our café in Banbridge Leisure Centre continues lo gain momentum, open 7 days a week offering made to order meals from a carefully-crafted menu. Additionally. the café provides in-house catering for events being held within the centre and the council civic building opposite the cenlre. On 19 May 2023 we saw our busiest trading day to dale catering for the Armagh City, Banbridge, & Craigavon Local Election Count Cenlre. Café incredABLE @ Banbridge had a total of 35,822 customer Iransaclions. employed 3 people with a learning disability andlor Autism. and facilitated a further 3 in voluntary placement. Financial Review The results for the financial year are set out on page 11 and additional notes are provided showing income and expenditure in greater detail. Flnanclal Results At the end of the financial year the charity has assets of £186,667 {2023- £183.6591 and liabilities of £101,441 {2023 £105,944). The nel assets of the charity have increased by £7.511. Reserves Posltlon and Poli¢y A reserves policy has been formulated to explain the rationale for holding reserves and the level of reserves that is appropriate for the charity. The trustees review this on an annual basis and believe a free reserve target of three months running costs would be appropriate. Trustees The trustees who served throughout the financial year. except as noted, were as follows.. Ethin Graham Alan Turtle In accordan¢e with the Constitution. the Iruslees retire by rotation and. being eligible. offer themselves for re-election. The secretary who served during the financial year was.. Nigel Hampton Compliance with Sector-wide Legislation and Standards The charity engages pro-actively with legislation, standards and codes which are developed for the sector. IncredABLE Enterprises subscribes to and is compliant with the following.. The Companies Act 2006 The Charities SORP (FRS 102) Public Beneflt The direct benefits which flow from our purposes inciude 3060providing meaningful social. recreational, educational and daytime activities for individuals with a learning or an intellectual disability. We provide young people with an opportunity and a space to be creative and learn new skills in a Safe, structured environment, and lo have fun doing IL This improves the wellbeing. self-esteem. and quality of life for people with a leamin9 1 intellectual disability. We equip these people with the skills they need to have meaningful careers, prospects and social engagement. These beneffts are demonstrated through our provision of training and employment and gducation for people with leaming disabilities and or autism. Café ineredABLE has helped these people to obtsin Level One Qualifications in catering and hospitality. We have employed some of our café trainees and hope lo employ more who come through our training programme. Our vision is a society where individua15 with learning l intelleelual disability and l or autism are supported, valued and included. People with learning l intellectual disabilities and their carers often require recurring if not lifelong support.
IncredABLE Enterprises {A company limited by guarantee, not having a share capital) TRUSTEES, ANNUAL REPORT for the financial year ended 31 March 2024 We help to make these people with more autonomy and independence. These purposes do not lead lo harm. The charity's beneficiaries are people with a learning l intellectual disability in the Southern Health & Social Care trust area. They also include family members and carers of those who are diagnosed with a learning l intellectual disability. All members of the community are welcome in our café and can benefit from our purposes. The Auditors The auditors, Daly Park & Company Ltd, (Chartered Accountants) have indicated their willingness to continue in office in accordance with the provisions of Section 485 of the Companies Act 2006. Approved by the Board of Trustees on i&U- gec0th 2Yand signed on its behalf by: Edwin Graham Trustee Alan Turtle Trustee
IncredABLE Enterprises IA company limited by guarantee, not having a share capital) STATEMENT OF TRUSTEES, RESPONSIBILITIES for the financial year ended 31 March 2024 The trustees, who are also directors of IncredABLE Enterprises for the purposes of company law, are responsible for preparing the financial statements in accordance with applicable law and regulations. Company law requires the trustees as the directors to prepare financial ststements for each financial year. Under that law the IrLJslees have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable lawl including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" Section 1A (Small Enlitiesl. Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the surplus or deficit of the company for that period. In preparing these financial statements, the trustees are required to: select suitable accounting policies and apply them consistently- observe the methods and principles in the Charities SORP make judgements and accounting estimates that are reasonable and prudent., state whether the financial statements have been prepared in accordance with applicable accounting standards, identify those standards. and note the effect and the reasons for any material departure from those standards,. and prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation. The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any lime the financial position of the charily and enable them lo ensure that the financial statements comply with the Companies Act 2006 and. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. In so far as the trustees are aware- there is no relevant audit information (information needed by the charity's auditor in connection with preparing the auditor's report) of which the charity's auditor is unaware, and Ihe trustees have taken all the steps that they ought lo have taken as trustees in order to make themselves aware of any relevant audit information and lo establish that the charity's auditor is aware of that information. Approved by the Board of Trustees on I and signed on its behalf by: Edwin Graham Trustee Alan Turtle Trustee
INDEPENDENT AUDITOR'S REPORT to the Members of IncredABLE Enterprises IA company Ilmltod by guarantèè. not having a share capltall Report on the audit ofthe financial statements Opinion We have audited the charity financial statements of IncredABLE Enleiprises {'Ihe charity) for the financial year ended 31 March 2024 which comprise the Slalement of Financial Activities lincorporaling an Income and Expenditure Account}, the Balan Sheet. the Statement of Cash Flows and notes to the finaneial statements, including the summary of significant accounting policies set out in note 2. The financial reporting framework that has been applied in their preparation is applieable law and United Kingdom Accounting Standards, induding FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" applying Section 1A of that Standard and Aecounting and Reporting by Charities.. Slalemenl of Recommended Practice applicable to charities preparing their accounts in accordance with FRS 102. In our opinion. when reporting in accordance with a fair presentation framework the financial stalemenls.. give a true and fair view of the slate of the charity's affairs as al 31 March 2024 and of its surplus for the financial year then ended; have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice.. and have been prepared in accordance with the requirements of the Companies Act 2006 and the Charities Act (Northern Ireland) 2008. Basis for opinion We conducted our audit in accordan with International Standards on Auditing IUKI {ISAs IUK}l and applicable law. Our responsibilities under those standards are further described in the Audilovs responsibilities for the audit of the financial slalements section of our report. We are independent of the charity in accordance with ethical requirements that ale relevant to our audit of tho financial slalements in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidenee we have obtained is sufficient and appropriate to promde a basis for our opinion. Conclusions relatlng to golng concem In auditing the financial statements. we have concluded that the trustees, use of the 90ing concern basis of accounting in the preparation of the financial slalements is appropriate. Based on the work we have perfomied. we have not identrfied any material uncertainties relating lo events or conditions that, individually or collectively, may cast significant doubl on the charity's ability to continue as a going concern for a period of at least e1ve months from the dats when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the trustees with respe¢t to going coneem are described in the relevant sections of this report. Other Infomiation The other information comprises the information included in the annual report other than the financial statements and our Audilorfs Report Ihereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other infomation and, exeept lo the extent otherwise explicitly stated in our report. we do not express any forn of assurance conclusion Ihereon. Our responsibility is to read the other information and, in doing so. consider whether the other infomation 15 materially inconsislenl with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material in¢onsislencies or apparent material misslalements. we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If. based on the work we have perfomed. we conclude that there is a material misstatement of this other infomation, we are required lo report that fact. We have nothing to report in this regard. Oplnion on othor matter prescribed by the Companies Act 2006 In our opinion. based on the work undertaken in the cours8 of the audit.. the information given in the Trustees, Annual Report for the financial year for which the financial staternents are prepared is consistent with the financial slalements., and the Trustees, Annual Report has been prepared in accordance with applicable legal requirements.
INDEPENDENT AUDITOR'S REPORT to the Members of IncredABLE Enterprises IA company limited by 9uarantee, not having a shar8 capltall Matt9rs on which we are requlred to report by exception In the light of our knowledge and understsnding of the charity and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees, Annual Report. We have nothing to report in respect of the following matters where the Companies Act 2006 requires us lo report to you if. in our opinion.. adequate accounting records have not been kept.. or the financial slalements are not in agreement with the accounting records and retums.. or certain disclosures of trustees, remuneration specified by law are not made,. or the trustees were not entitled lo prepare the financial stslemenls in aecordance with the small companies gIe and lake advantage of the small companies. exemption in preparing the Trustees, Annual Report. Responslbllities of truste95 for the financlal statements As explained more fully in the Slalement of Trustees, Responsibilities sel out on page 6. the trustees are responsible for the preparation of the financial ststemenls and for being satisfied that they give a true and fair view, and for such inlemal control as they delemine is necessary lo enable the preparation of financial statements that are free from material misstatement. whether due to fraud or error. In preparlng the financial statements, the trustees are responsible for a$5essing the charity's ability to continue as a going coneem. disclosing, as applicable, matters related lo going coneem and using the going concern basis of accounting unless management either intends to liquidate the charity or lo cease operations. or has no realistic alternative bul to do so. Auditor's responsibilltles for the audlt of the financial statements Our objectives are lo obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement. whether due lo fraud or error. and to issue an Audilols Report that ineludes our opinion. Reasonable assurance is a high level of assuran, but is not a guarantee that an audit conducted in accordance with ISAS IUK} will always detect a material misstalemenl when it exists. Misstatements can arise from fraud or error and are considered material if. individually or in the aggregate. they could reasonably be expected to influen* the economic decisions of users taken on the basis of these financial statements. Irregltlarities. including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to delecl material misslalements in respect of irregularities, including fraud. The exlenl lo which our procedures are capable of detecting irregularities, induding fraud is detailed below.. There is an inherent difficulty in deteeling iriegularities during audit. However the effectiveness of entity's controls. the nature and exlenl of audit prOdreS performed. gives us confidence in deteeling irregularities. Further Informatlon regardlng the scope of our responsibilities as auditor As part of an audit in accordance with ISAS IUKI, we exercise professional judgement and maintain professional scepticism throughout the audit. We also.. Identify and assess the risks of mateiial misststemenl of the financial slatsments, whether due to fraud or error, design and perfomi audit procedures responsive lo those risks. and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not delecling a material misststemenl resulting from fraud is higher than for one resulting from error, as fraud may involve collusion. forgery. intentional omissions. misrepresentations, or the override of internal control. Obtain an understanding of internal control relevant to the audit in order lo design audit prOdureS that a appropriate in the eireumstsnces, bul not for the purpose of expressing an opinion on the effectiveness of the charity's internal control. Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by trustees. Conclude on the approprialenes$ of the trustees, use of the going concern basis of accounting and, based on the audit emdence obtained. whether a material uncertainty exists related lo events or eondilions that may cast signrfieant doubl on the charity's ability lo continue as a going concern. If we conclude that a material uncertainty exists. we are required to draw attention in our Auditorf$ Report to the related disc105ures in the financial slatem8nls or. rf such disclosures are inadequate. to modify our opinion. Our wnclusions are based on the audit evidence obtained up lo the dale of our Audilof s Report. However, fvture events or conditions may cause the charity to cease lo continue as a going concem. Evaluate the overall presentslion. structure and conlenl of the financial statements, including the disclosures. and whether the financial statements represent the underlying transaction5 and events in a manner that achieves fair presentation.
INDEPENDENT AUDITOR'S REPORT to the Members of IncredABLE Enterprises {A company lirnited by guarantee, not havrng a $hare pital We communicate wlth those charged with govemance regarding, among other matters. the planned scope and liming of the audit and significant audit findings, including any significant deficiencres in internal control that we identify during our audit. The purpose of our audit work and to whom we owe our responsibilities This report is made solely to the charity's members, as a body. in aceordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might slate lo the charity's members those matters we are required to slate to them in an auditors report and for no other purpose. To the fullest extent pemiitted by law. we do not accept or assume sPOnsIbl11ty to anyone other than the charity and the charity's members as a body. for our audit work, for this report. or for the opinions we have formed. Ruairi agin Senior Statutory Audltorl for and on b alf of DALY PARK & COMPANY LTD Chartered Accountants and Registered Auditors 4 Carnegie Street Lurgan County Am8gh BT66 6AS Northern Ireland !gl.1.4.z 10
IncredABLE Enterprises IA cornpany limited by guarantee. not having a share capital) STATEMENT OF FINANCIAL ACTIVITIES Ilncorporating an Incom• and Expenditure Account) for the financial year ended 31 March 2024 Unrestricted Funds 2024 Totsl Unrestricted Fund$ Funds 2024 2023 Totsl Funds 2023 Notes Income Donations and legacies Charitable activities Self-generaled income 19.070 19.070 3.2 1.225.240 1.225,240 968.617 968,617 Total Incomo 1,225.240 1.225,240 987,687 987.687 Expenditure Charitable activities 4.1 1,217,728 1,217.728 1,017,126 1,017,126 Net in¢omg1(expenditure) 7.512 7,512 129.439) 129,4391 Transfers beeen ftjnds Net movement In funds for the financial year 7,512 7,512 129,4391 129,439) Reconciliation of funds: Total funds beginning of the year 15 77.714 77.714 107,154 107.154 Total funds at the end of thg year 85,226 85,226 77.715 77,715 The Ststemenl of Financi81 Acliwlies includes all gains and losses recognised in the financial year. All income and expenditure relate lo continuing activities. The notes on pages 14 to 19 form part of the financAal statements 11
IncredABLE Enterprises IA company Ilmited by guarantèé, not havlng a share capital) CoTnpany Number.. N1665042 BALANCE SHEET as at 31 March 2024 2024 2023 Notes Fixed Assets Tangible assets 23,975 29,167 Current Assets Stocks Debtors Cash at bank and in hand 10 11 12 1,000 61,381 100.311 1,000 62,561 90,931 162,692 154,492 Creditors: Amounts falling due within one year 13 1101.4411 {105,9441 Net Current Assets 61,251 48,548 Total Assets less Current Liabilities 85.226 77,715 Funds General fund (unreslricted) 85,226 77.715 Total funds 15 85,226 77,715 These financial statements have been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006. The financial statements have been prepared in accordance with the provisions applicable lo companies subject to the small companies, regime and in accordance with FRS 102 "The Financial Reporting Standard applicable in the UK and RepLJblic of Ireland" applying Section 1A of that standard. Approved by the Board of Trustees and authorised for issue on behalf by IbK De,JrIo24 and signed on its Edwin Graham Trustee Alan Tu Trustee The notes on pages 14 to 19 form part of the financial statements 12
IncredABLE Enterprises STATEMENT OF CASH FLOWS for the financial year ended 31 March 2024 2024 2023 Notes Cash flows from operatlng actNlties Nel movement in funds Adjustments for Depreciation 7,511 (29.4391 6.862 6,611 14.373 {22,8281 Movements in working capital: Movement in stocks Movement in debto Movement in creditors 13001 2,109 47,392 14.5031 Cash generated from operations 9.908 26.373 Cash flows from investing actlvltles Payments lo acquire tangible assets 11.6701 {2.5791 Cash flows from financlng actlvities Advances lo subsidiarieslgroup companies 1.142 114.1101 Net Increase In cash and cash equivalents Cash and cash equivalents at the beginning of the year 9,380 90,931 9,684 81,247 Cash and cash equivalents at the end of the year 12 100,311 90,931 13
IncredABLE Enterprises IA company limitèd by guarantee, not havlng a share eapitall NOTES TO THE FINANCIAL STATEMENTS for the financial year ended 31 March 2024 GENERAL INFORMATION IncredABLE Enterprises is a company limited by guarantee incotporaled in Northem Ireland. The registered office of the charity is 162 Portadown Road. Richhill, Co. Armagh, BT61 9LJ, Northern Ireland which is also the principal place of business of the charity. The financial statements have been presented in Pound 1£) which is also the functional currency of the charFty- SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The following accounting policies have been applied consistently In dealing with items which are considered material in relation to the charity's financial statements. Basis of preparation The financial ststemenls have been prepared on the going concern basis under the historical eosl convention, modified lo include certain items al fair value. The financial statements have been prepared in accordance with the Slalernent of Recommended Practi ISORPI "Aceounting and Reporting by Chartlies preparing their accounts in accordants with the Financial Reporting Standard applicable in the UK and Republic of Ireland FRS 102" applying Section 1A of that Standard. As pemitted by the Companies Act 2006. the charity has varied the standard fomal$ in that act for the Statement of Financial Activities and the Balance Sheet. Departures from the standard fomiats are to comply with the requirements of the Charities SORP and are in ¢ompliance with section 4.7, 10.6 and 15.2 of that SORP. SLitement of compliance The financial statements of the charity for the financial year ended 31 December 2017 have been prepared on the going conrn basis and in accordan with the Statement of Recommended Practice ISORP) "Aecounling and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland FRS 102" applying Sectson 1A of that Standard. Fund accounting The following are the ¢ategories of funds maintained.. Restricted funds Restricted funds represent income received which can only be used for particular purposes, as specified by the donors. Such purposes are within the overall objectives of the charity. Unrestrlcted funds unStrIcted funds consist of General and Designated funds. General funds represent amounts which are expendable al the discretion of the board. in Irtherance of the objectives of the charity. Designated funds comprise unrestricted funds that the board has, at its discretion, set aside for part¢cular purposes. These designations have an adminislralive purpose only. and do not legally restrict the board's discretion lo apply the fvnd. Income Income is recognised by inclusion in the Statement of Financial Activities only when the charity is legally enlilled to the income, performan¢e eondilions attached lo the item(s} of income have been met. the amounts involved can be measured with sufficient reliability and it is probable that the income will be received by the charity. Income from charltable activities Income from charitable activities include income earned from the supply of services under contractual arrangements and from performance related grants which have conditions that specrfy the provision of particular servitss lo be provided by the charity. Income from government and other co-funders is recognised when the charity is legally enlilled lo the incorne because il is fulfilling the conditions contained in the related funding agreements. Where a grant is received in advance. its recognition is deferred and included in creditors. Where enlitlemenl occurs beforg income is received. il is accrued in debtors. Grants from governments and other upfunders typically include one of the following types of conditions.. Performance based conditions.. whereby the charlty is contractually entitled to funding only lo the exlenl that the core objectives of the grant agreement are achieved. Where the charity 1$ meeting the core objectives of a 14
continued IncredABLE Enterprises IA company Ilmlted by guararttÈè. not having a share capltall NOTES TO THE FINANCIAL STATEMENTS for the financial year ended 31 March 2024 grant agreement. it recogni$es the related expenditure. lo the extent that il 15 reimbursable by the donor, as income. -Time based conditions.. whereby the charity is contractually entitled to funding on the condition that il is ulilised in a particular period. In these cases the charity recognises the income lo the extent il is utilised within the period specified in the agreement. In the absence of such conditions, assuming that receipt is probable and the amount can be reliably measured. grant income is recogni$ed once the charity is nottfied of enlillemenl. Grants received towards Capital expenditure are credited lo the Ststement of Financial Activities when reoived or receivable. whichever is earlier. Expenditure Expenditure is analysed beeen costs of charitable activities and raising funds. The costs of each activity are separately accumulated and disclosed, and analysed according lo their major components. Expenditure is recognised when a legal 01 constructive obligation exists as a result of a past event, a transfer of economic benefits is required in settlement and the amount of the obligation can be reliably measured. Support costs are those functions that assist the work of the charity but cannot be attributed lo one aclivtty. Such costs are allocated to activities in proportion to stsff lime spent or other suitable Measure for each activity. Tangible fixed assets and depreciation Tangible fixed assets are stated at eosl or at valuation, less accumulated depreciation. The charge lo depreciation is calculated to write off the original cost or valuation of tangible fixed assets, less their estimated residual value. over their expected useful lives as follows: Fixtures. fittings and equipment Motor vehicles 15¥ts Straight line 25% Straight line Inventories Inventories are slated at the lower of cost and net realisable value. after making due allowance for obsolete and slow moving items. Cost includes all costs incurred in the noal course of business in bringing them lo their present location and condition. Inventories comprise fundraising materials. 11 is not considered practicable to value inventories of unsold donated goods al the financial year end. Debtors Debtors are recognised at the settlement amount due after any discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. Income iecognised by the charity from government agencies and other co-funders. but not yet received al financial year end, is included in debtors. Cash at bank and In hand Cash at bank and in hand comprises cash on deposit at banks qUiring less than three months. notice of withdrawal. Taxation and deferred taxatlon No current or deferred taxation arises as the charity has been granted ¢haritable exemption. Irrecoverable valued added tax is expensed as incurred. Deferred tax is recognised in respe¢t of all liming differences that have originated but not reversed at the balance sheet date where transactions or events have occurred al that dale that will SuIt in an obligation lo pay more lax in the future. or a right to pay less tsx in tho future. Timing differences are temporary differen¢e$ beeen the charity's taxable income artd 115 results as slated in the financial stalemenls. Deferred lax is measured on an undiscounled basis al the lax rates that are 8nlicipaled to apply in the periods in which the liming differences are expected to reverse, based on lax rates and laws that have been enacted or substantively enacted by the balance sheet date. INCOME DONATIONS AND LEGACIES Unrestricted Restricted Funds Funds 2024 2023 Donations and legacies 19.070 15
continued IncredABLE Enterprises IA company Ilmlted by guarantee, not having a sharg capital) NOTES TO THE FINANCIAL STATEMENTS for the financial year ended 31 March 2024 CHARITABLE ACTIVITIES Unrestricted Restricted Funds Funds 2024 2023 Grants from governments and other co-fundgrs: Income from charitable activities 1.225,240 1,225,240 968.617 EXPENDITURE CHARITABLE ACTIVITIES Direct Costs Other Costs Support Costs 2024 2023 Expenditure on charitable activities 1,196,046 21,682 1,217,728 1.017.126 SUPPORT COSTS Charitable Activities 2024 2023 Support 21.682 21,682 21,794 ANALYSIS OF SUPPORT COSTS 2024 2023 Support 21.682 21.794 NET INCOME 2024 2023 Net Income is stated after chargingl{crediting): Depreciation of tangible assets Grants receivable received 6,862 6.611 18,0001 INVESTMENT AND OTHER INCOME 2024 2023 Revenue grants received 8.¢JJO EMPLOYEES AND REMUNERATION The staff costs comprise: 2024 2023 Wages and salaries Pension costs 549.344 6.891 449.102 14.704 556,235 463.806 16
continued IncredABLE Enterprises IA company limited by guarantee, not having a sham capital) NOTES TO THE FINANCIAL STATEMENTS for the financial year ended 31 March 2024 TANGIBLE FIXED ASSETS Flxtures, fittings and equipment Motor vehicl95 Totsl Cost At 1 April 2023 Additions 23,077 1,670 21,000 44.077 1,670 Al 31 March 2024 24,747 21,000 45,747 Depreciation At 1 April 2023 Charge forthe financial year 8.610 3,712 6.300 3,150 14.910 6.862 At 31 March 2024 12.322 9.450 21.772 Net book value At 31 March 2024 12.425 11.550 23.975 At 31 March 2023 14,467 14,700 29,167 10. STOCKS 2024 2023 Finished goods and goods for resale 1,000 11. DEBTORS 2024 2023 Trade debtors Amounts owed by related parties Prepayments and accrued income 17,831 43,437 113 17,882 44.579 100 61.381 62,561 12 CASH AND CASH EQUIVALENTS 2024 2023 Cash and bank balances 100.311 90.931 13. CREDITORS Amounts falllng due within one year 2024 2023 Trade creditors Taxation and social security costs Other ereditors Accruals and deferred income 50,020 47,921 55.947 47.131 3,214 2.866 101.441 105, 17
continued IncredABLE Enterprises IA compat)y Ilmlted by guarantèe. not having a share capital) NOTES TO THE FINANCIAL STATEMENTS for the financial year ended 31 March 2024 14. RESERVES 2024 2023 Al the beginning of the year SurplusllDeficill for the financial year 77,715 7.511 107.154 129.4391 Al the end of the year 85,226 77.715 15. FUNDS 15.1 RECONCILIATION OF MOVEMENT IN FUNDS Unrestrlcted Funds Total Funds Al 1 April 2022 Movement during the financial year 107,154 {29.4391 107,154 129,4391 Al 31 March 2023 Movement during the financial year 77,714 7.512 77,714 7,512 At 31 March 2024 85.226 85.226 15.2 ANALYSIS OF MOVEMENTS ON FUNDS Balance 1 April 2023 Income Expenditure Transfers between funds Balance 31 March 2024 Unrestricted funds Unreslricled General 77.714 1.225,240 1,217.728 85.226 Total funds Tl.714 1.225,240 1,217.728 85,226 15.3 ANALYSIS OF NET ASSETS BY FUND Fixed assets - charity use Current Current Ilabilities Totsl Unrestricted general funds 23,975 162.692 1101,4411 85,226 23.975 162,692 1101,4411 85,226 16. STATUS The charity 1$ limited by guarantee not having a shafe capital. The liability of the members is limited. Every member of the company undertakes to eonlribule to the assets of the ¢ompany in the event of its being wound up while they are members, or within one financial year thereafter. for the payment of the debts artd liabilities of the company contracted beforg they ceased to b8 members, and the costs, charges and expenses of winding up, and for the adjustment of the rights of the contributors among themselves, such amount as may be required. not exceeding £ 1. 18
continued IncredABLE Enterprises IA company Ilmited by guarantèe, not having a share capilall NOTES TO THE FINANCIAL STATEMENTS for the financial year ended 31 March 2024 17. RELATED PARTY TRANSACTIONS The trustees of IncredABLE Enterprises are also trustees of IncredABLE. Al the year-end £43.437 {2023- £44.5791 was owed from IncredABLE in respect of financial assistan as disclosed in Note 1110 the financial slalements. 18. POST-BALANCE SHEET EVENTS The have been no significant events affecting the Charity since the financial year-end. 19. TRUSTEE REMUNERATION None of the Trustees received nor waived remuneratior¢ for their services as Trustees during the current or previous financial year. 19