Company Registration Number.. N1665042 Charity Numbar: NIC108216 IncredABLE Enterprises IA company limited by guarantee, not having a share capitsll Annual Report and Audited Financial Statements for the financial year ended 31 March 2025 Daly Park & Company Ltd Chartered Accountants and Registered Auditors 4 Carnegie Street Lurgan County Armagh BT66 6AS Northern Ireland
IncredABLE Enterprises IA cornpany limited by guarantee. not havlng a share capital) CONTENTS Page Reference and Administrative Information Trustees, Annual Report Statement of Trustees, Responsibilities Independent Auditor's Report 8-10 Statement of Financial Activities Balance Sheet 12 Statement of Cash Flows 13 Notes to the Financial Stalernents 14- 18
IncredA8LE Enterprises IA company limited by guarantee. not having a Share capital) REFERENCE AND ADMINISTRATIVE INFORMATION Trusts8s Edwin Graham Alan Turtle Company Secretary Nigel Hampton Charity Number In Northern Ireland NIC108216 Company Reglgtration Number N1665042 Registered Offl¢8 and Principal Address 162 Portadown Road Co. Armagh BT61 9LJ Northern Ireland Auditors Daty Park & Company Ltd Chartered Accountants and Registered Auditors 4 Carnegie Street Lurgan County Armagh BT66 6AS Northern Ireband Prlnclpal Bankers Danske Bank 45-48 High Street Portadown Co. Atmagh BT62 1 LB Northern Ireland
IncredABLE Enterprises IA Company litnrted by guarantee, not havlng a share capltall TRUSTEES. ANNUAL REPORT for the financial year ended 31 March 2025 The Iruslee5 present their Trustees, Annual Report, combining the Directors, Report and Trustees, Report, and the audited financial slalemenls for the financial year ended 31 March 2025. The financial statements are prepared in accordance with the Companies Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and Accounting and Reporting by Charities.. Slalemenl 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 IFRS 1021. The Trustees, Report contains the information required lo be provided in the Trustees, Annual Report under the Statement of Recommended Practice ISORPI guidelines. The Iruslees of the charity are also charity Iruslees for the purpose of charity law and under the chaTIty's conslilulion are known as members of the board of Iruslees. In this report the Iruslees of IncredABLE Enleiprises present a summary of ils purpose, governance. activities, achievements and finances for the financial year 31 March 2025. Prlncipal Activlty The promotion of those in need by reason of learning difficulties, disability or other disadvantage and the provision of 8ducalion and training lo assist all such persons to realise their full potential and lead fulfilling lives. Mission. Obje¢tiV9s and Strategy Objectives Aims & Objectives IncredABLE Enterprises empowers indwiduals with learning difficulties lo make choices, discover talents. realise passions, participate in community and becorne more independent. The organisalion voluntarily run5 a nurnber of cafes that provide training, education and employment opportunities for people with au115Fn andl 01 learning difficulties. The organisalitsn's aim is lo help people with autism andl or learning difficuleS lo feel suppr)rted, valued and included whilst obtaining employment. Structure. Govemance and Manay8ment structure The charity was sel up in October 2019 as a company limited by guarantee con51iluled under the Companies A 2006 and is also registered with the Charty Commission for Northern Ireland as charitable company under ref NIC108216. The company is governed by its Mernorandum and Articles ol As50cialion with the principal office of the company located al 162 Portadown Road, Richhill. Trustees Trustees are recruited and appointed al ils Annual General Meeting. The process lor the appointment of Trustees is outlined in the governing documents. The directors of the organisalion ar& also charity Iruslees for the purposes of charity law. Each new Iiusletts undergoes an induction process and training in good govemance. The Iruslees of the company are ils directors for the purposes of charity law. IncredABLE Enterprises is managed by a board of voluntary Iruslees with experience working in the Charilable sector. Truslees are elected and appointed &a¢h ye8r and can include represenlalives from some of the regional statutory agencies Wlth experience working with individuals with autism I learning diffi¢ullies. Trustees receive an induction process which includes an explanation of the current and future plans for activity within th8 charity and guidance on governance and responsibilities of a Iruslee. The day lo day management of incredABLE Enterprises is delegated lo a management team headed by Nigel Hampton. CEO. which reports lo the 803rd on a regular basis. The charity's main risk assessed by the board is cashflow and the ability oflhe company lo meet payments when they fall due. A reserves policy has been developéd to help smooth cashflow pressure in circumstances where funding ceases or is delayed.
IncredABLE Enterprises IA company Ilmlted by guarantee, not haylng a share capltall TRUSTEES, ANNUAL REPORT for the financial year ended 31 March 2025 Revlew ofActivitigs, Achievements and Performance Café incredABLE Jethro Our calé in the Jelhro Centre is running strong, open 5 days a week offering made lo order meals from a carefully-crafted menu. Additionally, Café incredABLE Galers for internal Jelhro Cgnlre clients as well as outside groups gularty. giving participant trainees the opportunrty lo learn catering in addition lo cooking, serving, using the lill. and more. Jelhro's sales are up by 4.50/0 from the previous year, a small increase in transactions by 0.78Vo to 17,245. 4 staff were employed wlh a learning disability and a further 3 volunleors during Ihis financial year. Cafè incredABLE South Lake Our flagship café in South Lake Leisure Centre in Craigavon also continues lo shine. We are proud of the Service we offer al SLLC. and we are even more proud Ihat this café. in addition lo having become a community hub, continues lo be a place where we offer vocational training. employment, and meaningful daytime activity for individuals wlh a learninglinlelle¢lual disability andlor autism within our café spaces. Our customer base continues lo remain loyal, and we serve as many people who come lo the South Lake Leisure Centre just for a coffee or breakfast as we do Ih05e who are in the SLLC already for their own purposes and slop by for refreshment before or after. South Lakes sales increased by 2.5YD on previous year lo, transactions down by 1°A to 140,719, large swimming galas bringing in record daity figures on some weekends. 11 staff were employed with a learning disability and a further 8 volunteers. Cafè incr8dABLE Banbrid e Leisure Centre Our café in Banbridge Leisur& Cantre continLJes lo gain momentum, open 7 days a week tsffering made lo order mea15 from a carefully-crafted menu. Additionally, the café provides in-house catering for even15 being held within the centre and the council cwic building opposite the cenlre. Banbiidge sales are up by 18.2°1Tr on previous year and transactions also increased by 12¢/. 10 40,313, helped by catering for large events such as Judo and CyrTinaslic5 competitions held in the ¢enlre. 4 staff were employed with a learning disability and a further 4 volunteers. Financial Review The results for the firTrancial year are sel out on page 11 and additional notes are provided showing in¢ome and expenditure in greater detail. Financial Results Al the end of the financial year the charity has assets of £171,13712024 - £186,667) and liabilities of £103,62712024 £101,441). The nel assets of the charity have decreased by £117,716). Reserves Position and Policy A reserves policy has been fomiulaled to explain the rationale for holding reserves and the level of reserves that is appropriate for the charity. Thg trustees review this on an annual basis and believe a free reserve largel of three months running cosis would be appropriate, Truste&s The trustees who served throughout the financial year, exp1 as noted, were as follows.. Edwin Graham Alan Turtle In aordan with the Conslilulion, the Iruslees retire by rolalion 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 Stsndards The charity engages pro-actively with legislation. standards and codes which are developed for the sector. IncredABLE Enterprise5 subscribes lo and is compliant with the following.. The Companies Act 2006
IncredABLE Enterprises IA company limlted by guarantee, not havlng a share capltall TRUSTEES, ANNUAL REPORT foi the financial year eTrded 31 MarEh 2025 The Charities SORP IFRS 1021 Public Benefit The direcl benefits which flow from our purposes include 3060providing meaningful social. recreational, education81 and daylirne aGlivilie5 lar individuals with a learning or an intellectual disability. We provide young people with an opportunity and a space lo be ¢realive and learn new skills in a sale. slruclured environment, and lo have fun doing it. This improves Ihe wellbeing, sell-esleem, and quality of life for people with a learning l intellectual disability. We eqLJiP these péople with the skills they need lo have meaningful careers, prospects and social engagement. These benefits ale detnonslialed through our provision of training and employtnenl and education lor people with lèarning disabilities and or autism. Café incredABLE has helped these people lo obtain Level One Qualifications in catering and hospilalily. We have ernployed some of our café trainees and hope lo ernploy tnore who Gome through our training programme. Our vision 15 a society where individuals with learning l intellectual disability and l or autism are 5UPPOrted, valued and included. People with learning l intellectual disabilitie5 and their caiers often require recutting if not lifelong support. We help lo make these people with more autonomy and independence. These purposes do nol lead lo harm. The charity's beneficiaries are peaple with a learning l intellectual disability in the Southern Health & Social Care trust area. They also include family member5 and carers ol those who ale (fiagnosed with a leaining I Intellectual disability. All member5 01 the community are welcome in our café and can benefit from our purposes. The Audltors The audi10, Daly Park & Company Ltd, (Chartered Accounlanlsl have indicated their willingne53 lo continue in office in accordance with the provisions ol Section 485 01 the Cornpanies Act 2006. Approved by the Board of Trustees on and signed on its behalf by.. Edwin Graham Tnjslee Alan Turtle Trusteè
IncredABLE Enterprises IA company lirnitecj by guarantee. not having a share capitall STATEMENT OF TRUSTEES, RESPONSIBILITIES lor the financial year ended 31 March 2025 The Iruslee5, who are also director5 01 In¢redABLE Entèrprises for the pUOseS of company law. are re5POn5ible for preparing the fin2nci21 statements ill accordance with applicable law and regulations. Company law requires the Iruslees a5 the director5 to prepare financial slalemenls for each financial year. Under Ihal law the Iruslees have elected lo prepare the financial 51alefflen15 in accordanTr with United KingdoTn Generally AcTrpled Accounting Practice (Uniled Kingdom Accounting Standards and applicable lawl including FRS 102 'The Financial Reporting Standard applicable irTr the UK and Republic of Ireland" Seclioll 1A Ismall Enliliesl. Under company law the Iruslees musl not approve the financi81 slalemenls unless they are satisfied Ihal they give a Iiue and lair view of the slate ol attairs ol the company alld of the surplus or deficit of the company lor thal period. In preparing Ihese financial slalemenls, the Iru51ees are required lo.. select suitable accounting policies and apply them consislenlly-. obseNe the methods and principles In the Charities SORP make judgements and a¢counling estimates that are reasonable and prudent., state whether the financial slalemenls have been prepared in accordance with applicable 3CCOLJnting standards. identify those standards, and note Ihe 2ffecl and Ihe reasons lor any rnalerial departure from those standards., and prepare the financial slalements on the going concern basis unless 11 is inappropriate lo presume that the charity will continue in operation. The trustees are responsible for keeping adequate accounting records that are sufficient lo show and explain the Gharily's Iran5aclions and disclose with reasonable accuracy al any lime the Iinar)cial position of the charity and enable them lo ensure th81 Ihe fin8ncial slalemenls comply with the Companies Act 2006 and. They are also re5pofjsible lor safeguarding the assels of the charity and hence lor taking reasonable steps lor the prevention and detection ol fraud and other irregularities. In so far as the Iruslees ale aware.. Iheie Is no relevant audit infortnalion linformalion needed by the charity's auditor in connection wilh preparing the auditorts report) ol which the charity's auditor Is unaware, and the Iruslees have taken 311 lh& steps that they ought lo have taken as Iruslees in order lo make Ihemselves aware ol any relevant audit inlortnalion and lo establish that the charity's auditor is aware ol that Inform2lion. Approved by the Board of Trustees on 9 06L 201 and signed on Èls behalf by.. Edwin Graham Trustee Alan Turtle Tnjstae
INDEPENDENT AUDITOR'S REPORT to the Members of IncredABLE Enterprises IA company limited by guarant88, llDt having a share capltall Report on tho audit of the financial statements Opinion We have audited the charity financial slalemenls of IncredABLE Enterprises I'lhe charity'l for the financial year ended 31 March 2025 which comprise the Slalemenl of Financial Adivilies lincorporaling an Income and Expenditure Accounll, the Balance Sheet, the Slalemenl ol Cash Flow5 and notes lo tho financial statements, including the sumrnary of significant accounting policies sel out in note 2. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 'The Financial Reporting Standard applicab in the UK and Republic of Ireland" appfying Section 1A of that Standard and Accounting and Reporting by Charities.. Slalemenl of Recommended Practice applicable lo charities preparing their accounts in accordance with FRS 102. In our opinion. when reporting in accordance wlh a fair presentation framework the financial statements.. give a true and fair view of the slate of the charity's affairs as al 31 March 2025 and of ils deficrt for the financial year then ended., have been properly prepared in accordance with United Kingdom Generally Ac¢epled Accounting Practice.. and have been prepared in accordance with the requirements of the Companies Act 2006 and the Charities Act (Northem Irelandl 2008. Basi$ for opinion We conducted our audit in accordance with International Standards on Auditing IUKI IISAS IUKII and applicable law. Our responsibilitie5 under those standards are further described in the Auditor's respon8ibililies for the audit of the rinancial statements section of our report. We ale independent of Ihe charity in accordance with ethical requirements that are relevant lo our audit of the financial slalemenls in the UK, including the FRC'S Ethical Slandaid, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit eviden we have obtained is sufficient and appropriate lo provide a basi5 for our opinion. Conclusions relatlng to golng concom In auditing the financial slalemenls, we have concluded that the Iru5tees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating lo events or conditions that, individually or collectively, may cast significant doubl on the charity's ability lo continue as a going concem for a period of al least twelve months from the dale when the financial stolemenls are authorised for issue. Our responsibilities and the responsibilities of the Iruslees with respect lo going concern are described in the relevant sections of this report. other Inforniation The other Infomalion comprises the information included in the annual report other than the financial 51alemenls and our Audrtor's Report Ihergon. The trustees are responsible for the other infomalion contained within the annual report. Our opinion on the financial slalemenls does not cover the other information and. ex¢ept to the extent otherwise explicitly slated in our report, we do nol express any lomi ol assurance conclusion Ihereon. Our responsibility is to rgad the other inforrnalion and, in doing so, consider whether the other infomialion is malerially inconsislenl with the financial slalemenls or our knowledge obtained in the course of the audit, or olheNise appears lo be materially misstated. If we identify such rnalerial inconsistencies or apparent material misslatements, we are required lo delemiine whether this give5 rise lo a material misslalemenl in the financial statements themselves. If, based on the work we have perfomied, we conclude that there is a material misstatement of this other information. we are required lo report that fact. We have nothing lo report in this gard. Oplnlon on other matter prescribed by the Companies Act 2006 In our opinion, based on the work undertaken in the course of the audit.. the information given in the Tru5tees' Annual Report for the financial year for which the financial slalemenls are prepared is Consistent with the financial slalernenls", and the Truslee5' Annual Report has been prepared in accordanee with applicable legal requirernenls.
INDEPENDENT AUDITOR'S REPORT to the Members of IncredABLE Enterprises IA company Ilmlted by guarantee. not having a 5har• capit) Matters on which we are rgquired to report by exception In the light of our knowledge and understanding of the charrty and ils environment obtained in the course of the audit, we have not identified material misslalemen15 in the Truslee5' Annual Report. We have nothing to report in respect of the following mallers whero the Companies Act 2006 requireg us lo report lo you if, in our opinion.. adequate accounting records have not been kept., or the financial slalemenls are not in agreement with the accounting records and relumy., or certain disdosure5 of Iruslees. remuneration specified by law are not made., or the Iruslees were not enlilled lo prepare the financial slalemenls in accordance with the 5rnall companies regime and lake advantage of the srnall companies, exemption in preparing the Trustees, Annual Report. Responsiblllties of trustees for the financial Statements As explained more fulty in the Statement of Trustees, Responsibilities sel out on page 6, the Irus1È2s are responsible for the preparation of the financial slalemenls and for being satisfied that they give a true and fair view, and for such internal control as they delemiine is necessary lo enable the preparation of financial statements that are free from material misstalemenl, whether due lo fraud or error. In preparing the financial slalelnenls, the Iruslees are responsible for assessing the charity's abilty lo continue as a going concern, disclosing, as applicable. Matte related lo going concern and using the going conrn basis of a¢¢ounling unless management either intends lo liquidate the charity or lo cease operations, or has no realistic atternalive bul lo do 50. Auditorfs responslbllltles for the audit of the financial statements Our objective5 are lo obtain reasonable assuran about whether the financial slalemenls as a whole are free from material misslalemenl, whether due lo fraud or error, and lo issue an Auditor'5 Report that includes our opinion. Reasonable assurance is a high level of assurance, bul Is not a guarantee that an audit conducted in accordance wilh ISAS IUKI will always detect a material misslalemènl when il exists. Misslaloments Can arise from fraud or error and are Considered material if, individually or in the aggregate, they could reasonably be expected lo infiL5ence the economic decisions of users taken on the basis of these financial slalemenls. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We desNJn procedures in line with our respon5ibililies, outlined above, lo delecl material misstalements in respect of irregularities, including fraud. The exienl lo which our procedures are capable of delecling irregularities, Including fraud is detailed below". There is an inherent difficulty in delecling irregularities during audit. However the effeclNeness of entity's controls, the nature and exlenl of audit procedures performed. gives us confidence in detecting irregularities. Further information regardSng the scope of our responsibilities as auditor As part of an audit in accordance with ISAS IUKI, we exercise profe55iollal judgement and maintain professional sceplicism throughout th8 audit. We also.. Identify and assess the risks of material misslalemenl of the financial slalemenls. whether du8 to fraud or error, design and perform audit procedures responsive lo those risks, and obtain audit evidence that is sufficient and appropriate lo provide a basis for our opinion. The risk of not delecling a material misslalemenl resulting from fraud is higher than for one re5ulling from error, as fraud may involve collusion, forgery, intentional omissions, misrepresenlalion5, or the override of internal Gonlrol. Obtain an understanding of internal control relevant lo the audit in order lo design audit procedures that are appropriate in the circumstance5, but not for the purpose of expressing an opinion on the effectiveness of the charity's nternal control. Evaluate the approprialenes5 of accounting policies used and the reasonableness of accounting eslimale5 and related disclosures made by Iruslees. Conclude on the approprialene55 of the Iruslees, use of the going conrn basis of accounting and, based on the audit evidence obtained, whether a material uncertainly exists related lo events or conditions that rnay cast significant doubt on the charty's ability lo continue as a going cOnrn. 11 we conclude that a material uncertainty exists, we are required lo draw attention in our Audilorfs Report to the related disclosures in the financial slalements or. if such disclosures are inadequate. lo modify our opinion. Our conclu5ion5 are based on the audit eviden obtained up lo the dale of our Audilorfs Report. However, future events or conditions may cause the charity lo cease lo continue a5 a going concern. Evaluate the overall presentation, structure and conlenl of the financial slalemenls, including the disclosures. and whether the financial slalemenls rgpresenl the underlying transactions and events in 8 manner that achieves fair presentation.
INDEPENDENT AUDITOR'S REPORT to the Members of IncredABLE Enterprises IA company IlmSted by guarantee. not ha¥lng a share eapltall We communicat& with those charged with governance regarding, among other mallers, the planned scope and limin9 of the audit and significant audit findings, including any significant deficiencies in internal colllrol that we identify during our audit. The purpose of our audit work and to whom we owe our responsibllities This port is made solely lo the charity's member5, as a body, in accordance with Chapter 3 of Part 18 of the Companies Act 2006. Our audit work has been undertaken so that we might slate lo the charity's members those rnatters we are required lo slate lo IheTFI in an auditor's report and lor no other purpose. To the fullest exlenl perrnitted by law, we do not accept or assume responsibility lo anyone other than the charity and the charity's members as a body, for our audit work, for this report, or foi the opinions we have formed. Ruairi Magi n (Senior Statutory Auditorl for and on ehalf of DALY PAR & COMPANY LTD Chartered Accounlanls and Registered Auditors 4 Carnegie Street Lurgan CounlyAmagh BT66 8AS Northèrn Irgland .f.l !LJ.LS 10
IncredABLE Enterprises IA company Itmited by guarantee. not having a Share capitzll STATEMENT OF FINANCIAL ACTIVITIES Iln¢orporatlng an Income and Expenditure Account) for the financial year ended 31 March 2025 Unrestricted Funds 2025 Total Unreslricled Funds Funds 2025 2024 Total Funds 2024 Notes Income Charitable activities se-genera1ed income 3.1 1,287,935 1,287,935 1.225,24D 1,225.240 Expenditure Charitable activities 4.1 1,305,651 1,305,651 1,217,728 1,217,728 Net Incomellexpenditurel 117,7161 117,7161 7,512 7,512 Transfers beeen fijnds Net movement in funds for the financial year {17,7161 117,7161 7,512 7.512 Reconciliation of funds.. Total funds beginning of the year 13 85,226 85,226 77,714 77,714 Total funds at the end of the year 67.510 67,510 85,226 85.226 The Slalemenl of Financial Aclivilie5 inGludes all gains and losses recognised in the financial y8ar. All income and expenditure relate lo Gonlinuing aclivilies. The notes on peS 14 to 18 form part of the financial statntS 11
IncredABLE Enterprises IA company lim1ted by guarantÈÈ, not having a share capital) Company Number.. N1665D42 BALANCE SHEET a5 al 31 March 2025 2025 2024 Notes Fixed Assets Tallgible assets 19,835 23.975 Current Assets Stocks Debtors Cash al bank and in hand 1,000 16.309 133,993 1.000 61,381 100.311 10 151,302 162,692 CrÈdtors.' Amounts falling due within one year 1103,6271 1101,4411 Net Current Assets 47,675 61,251 Total Assets less Current Liabilitles 67,510 85.226 Funds General fund lunreslridedl 67,510 85.226 Total funds 67,510 85.226 These financi31 slalemènls have been prepared in accordance with the spècial provisions relating lo small cotnpanies within Part 15 of Ihe Companies Act 2006. The financial slalements have bepn prepared in accordance with the provisi(>n5 applicable lo companies subject lo the small companies, regime and in atcord8nce with FRS 102 "The Financial Reporting Standard applicable in the UK anLI Republic of Ireland" applying Section IA of that Standard. Approved by the Board of Trustèes and authorlsed for issue on S 2oif behalf by and signed on its Edwin Graham Trustee Alan Turtle Trustee The notes on pages 14 10 18 form part of the financial 51aletnenls 12
IncredABLE Enterprises STATEMENT OF CASH FLOWS for the financial year ended 31 March 2025 2025 2024 Notes Cash flows from operating activities Nel movement in funds Adjuslmenls for.. Depreciation 117,7161 7,511 7.242 6,862 110,474} 14.373 Movements in working capital.. Movemenl in debtors Movement in creditors 1.635 2,186 38 14.5031 Cash (used inllgeneraled from operations 16,6531 9,908 Cash flows from investing activities Payments lo acqui tangible assets 13,102 11,6701 Cash flows from financing activities Advances lo subsidiarieslgroup ccrnpanies 43,437 1,142 Net increase in cash and cash equivalents Cash and cash equivalents at the beginning of the year 33,682 100,311 9,380 90,931 Cash and cash equivalents at the ond of the year 10 133,993 100,311 13
IncredABLE Enterprises IA company lifflited by guarantee, not havlng a share capltall NOTES TO THE FINANCIAL STATEMENTS for the financial year ended 31 March 2025 GENERAL INFORMATION IncredABLE Enterprises is a company limffed by guarantee incorporated in Northern Ireland. The registered office of the charity is 162 Portadown Road, Richhill, Co. Armagh, BT61 9LJ, Northern Ireland which is also the principal pla of business of the charity. The financial slalemenis have been presented in Pound 1£) which is also the functional currency of the charity. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The following accounting policies have been applied consistently in dealing with items which aTe considered material in relation lo the charity's financial slalemenl5. Basis of preparatlon The financial statements have been prepared on the going concern basi5 under the historical cost convention, modified lo include certain rtems al fair value. The financial statements have been prepaTed in a¢¢ordance th the Statement of Recornmended Practicè ISORPI "Accounting 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 Section 1A of that Standard. A5 permitted by the Companies Act 2006, the charty has varied the standard formats in that act for the Slalemenl of Financial Activities and the Balance Sheet. Departure5 from the standard fomals are to comp th the requir8ments of the Charities SORP and are in compliance with section 4.7, 10.6 and 15.2 of that SORP. Statement of compllancg The financial statements of the charity for the financial year ended 31 March 2025 have been prepared on the going concern basis and in accordance with the Statement of Recornmended Practice ISORPI "Accounting and Reporting by Charities preparing Iheii a¢Gounls in accordan with the Financial Reporting Standard applicable in Ihe UK and Republic of Ireland FRS 102" apptying Section 1A of that Standard. Fund a¢¢ounting The following are the categories of funds maintained.. Restricted funds Restricted furTrds 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. Unrestrlctsd funds Unreslricled funds consist of General and Designated funds. General funds represent amounts which are expendable at the disClI0n of the board, in furtherance of the objectives of the Charity. Designated funds comprise unre51ricled funds that the board has, al ils discretion, sel aside for particular purposes. These designations have an admini51ralive purpose onty, and do not legalty restrict the board's discretion lo apply the fund. Income Income is recognised by inclusion in the Statement of Financial Activities only when the charity is legally enlilled lo the income, performance conditions attached lo the ilemlsl of income have been mel, the amounts involved Can be measured with sufficient reliability and il is probable that the income will be received by the d)arily. In¢om• from charitable activities Income from charitable aclThirties include income earnèd from the Supp of services under conlraclual arrangements and frorn performance related grants which have condrtlOn5 that specify the provision of particular services lo be provided by the charity. Income from governmelll and other co-funders is recognised when the charity is legal enlilled lo the income because il is fulfilling the conditions contained in the related funding agreements. Where a grant is received in advance, 115 recognition is deferred and included in creditors. Where ènlillemenl occurs before incorne is received. il is acciued in debtors. Grants from governments and other co-funders typically include one of the following Iypgs of conditions.. Perfomance based ¢onditions'. whereby the charity is conlraclually enlilled to funding only lo the extent that the core objectives of the grant agreement are achieved. Where the Charity is meeting the core objectives of a 14
continued IncredABLE Enterprises IA company Ilmlted by guarantee. not having a shar• capttall NOTES TO THE FINANCIAL STATEMENTS for the financial year ended 31 March 2025 grant agreement. it recognises the related expendrture, lo the exlenl that il is reimbursable by the donor, as income. -Time based conditions.. whereby the charity is conlraclually entitled to funding on the condition that il iq utilised in a particular period. In these cases the charity recognises the income lo the extent il is ulilised within the period specified in the agreement. In the absence of such nditiOns, assuming that receipt Is probable and the amount Can be reliabfy rneasured, grant income is recogni5ed once the charity is notified of enlillemenl. Grants r&ceived towards capital expenditure are credited lo the Slalemenl of Financial Activities when received or receivable, whichever is earlier. Expenditure Expenditure is analysed between costs of chanlable activi(ies and raising funds. The costs of each activity are separalety accumulated and disclosed, and analysed according lo their major ¢omponenls. Expenditure is re¢ognised when a legal or constructive obliyalion exists as a result of a past event, a transfer of economic benefits 15 required In sellleTnenl and the amount of the obligation can be reliably measured. Support costs are those functions that assist tho work of the charity bLJt cannot be atlribuled lo one activity. Such costs are allocated lo aclivilie5 in proportion lo staff time spent or olher Suitab measure for each activity. Tangible fixed assets and depreciation Tangible fixed assets are slated al cost or al valuation, less accumulated depreciation. The charge lo depreciation is calculated lo write off the original cost or valualion ol tangible fixed assets, less their eslimaled residual value, over their expected useful lives as follows.. Fixtures, fillings and equipment Motor vehicles 150/0 Slraighl line 25Vo Slraighl line Inventorles Inv8ntories are Staled al the lower of cost and nel realisable value. after making due allowance for obsolete and slow moving items. Cost includes all 00515 incurred in the normal ¢ourse of business in bringing them lo their present location and condition. Invenloiies comprise fundraising materials. It is not considered practicable lo value inventories of unsold donated goods al the financial year end. Debtors Debtor5 are recognised al the settlement amount due after any discount offered. Prepayments are valued al the amount prepaid nel of any trade discounts due. Income recognised by the charity from government agencies arld other co-funders, bul not yet received al financial ye8r end, is included in debtors. Cash at bank and In hand Cash al bank and in hand comprises cash on dep0511 al banks requiring less than three months, notice of withdrawal. Taxatlon and def&rr8d taxation No current or deferred taxation arises as the charity has been granted charrtable exemption. Irrecoverable valued added lax is expensed as incurred. Deforred lax is recognised in respect of all liming differences that have originated bul not reversed al the balance sheet dale where transactions or events have OCCUTred al that dale that will result in an obligation lo pay more lax in the future, or a right lo pay less lax in the future. Timing dIfferenS are lernporary difference5 betwèèn the charity's taxable incoTne and ils results as slated in the financial statements. Deferred lax is measured on an undiscounled basis al the lax rates that are anlicipaled lo appty in the peThods in which the liming differences are expected lo VerSe, based on lax rates and laws Ihal have been enacted or subslanlively enacted by the balance sheet dale. INCOME CHARITABLE ACTIVITIES Unrestricte(l Re$trl¢ted Funds Funds 2025 2024 Grants from governments and other Cowfundets.. Income from charitable activities 1.287.935 1,287,935 1.225,240 15
continued IncredABLE Enterprises IA cornpany limited by guarantee, not havlng a share capltall NOTES TO THE FINANCIAL STATEMENTS for the financial year ended 31 March 2025 EXPENDITURE CHARITABLE ACTivrriES Direct Costs Other Costs Support Costs 2025 2024 Expenditure on charitable activities 1,283.960 21,691 1.305,651 1,217,728 42 SUPPORT COSTS Charitable Activities 2025 2024 Support 21.691 21,691 21,682 NET INCOME 2025 2024 Net Incomg is $tated after chargintylcreditingl: Depreciation of tangible assets 7,242 6.882 EMPLOYEES AND REMUNERATION The staff costs comprise.. 2025 2024 Wage5 and Salaries Pension costs 584,947 6,$99 549,344 6.891 591,546 556,235 TANGIBLE FIXED ASSETS Flxtures, flttings and equipment Motor vehicles Total Cost Al 1 April 2024 Additions 24.747 3.102 21,OCIO 45,747 3,102 Al 31 March 2025 27.849 21.000 48.849 Depreciation Al 1 April 2024 Charge for Ibe financial year 12.322 4.092 9,450 3,150 21.772 7,242 Al 31 March 2025 18,414 12.600 29,014 Net book value Al 31 March 2025 11,435 8,400 19,B35 Al 31 March 2024 12,425 11.550 23,975 STOCKS 2025 2024 Finished goods and goods for resale 1,000 1.000 16
continued IncredABLE Enterprises IA company limited by guarantee, not havlng a share capltall NOTES TO THE FINANCIAL STATEMENTS for the financial year ended 31 March 2025 DEBTORS 2025 2024 Trade debtors Amounts owed by related partE5 Prepayments and accrued income 16,268 17,831 43,437 113 41 16,309 61,381 10. CASH AND CASH EQUIVALENTS 2025 2024 Cash and bank balances 133,993 100.311 CREDITORS Amount$ falling due within one year 2025 2024 Trade creditors Taxation and social securrty costs Other creditors Accruals and deferfed income 53,738 42,782 3,610 3,497 50.020 47.921 286 3,214 103.627 101.441 12. RESERVES 2025 2024 Al the beginning of the year {DeficilllSurplus for the financial year 85,228 117.716 77,715 7,511 Al the end of the year 67.510 85,226 13. FUNDS 13.1 RECONCILIATION OF MOVEMENT IN FUNDS Unrestricted Funds Total Funds Al 1 April 2023 Movement during the financial year 77,714 7.512 77,714 7.512 Al 31 March 2024 Movement during the financial year 85,226 117,7161 85,226 117,7161 Al 31 March 2025 67,510 67,510 13.2 ANALYSIS OF MOVEMENTS ON FUNDS Balance 1 April 2024 Income Expendlture Transfors b&twe8n funds Balance 31 Mar¢h 2025 Unrestricted funds Unreslricled General 85,226 1,287,935 1.305,651 67,510 Total funds 85,226 1,287,935 1,305,651 67,510 17
continued IncredABLE Enterprises IA company Ilmlted by guarantee, not havlng a share capltall NOTES TO THE FINANCIAL STATEMENTS for the financial year ended 31 March 2025 13.3 ANALYSIS OF NET ASSETS BY FUND Fixed assets - charity use Current assets Current Total Unreslricled general funds 19,835 151,3D2 1103,6271 67,510 19.835 151,302 1103.6271 67,510 14. STATUS The charity is limited by guarantee not having a share capital. The liability of the members is limited. Every member of the company undertakes lo contribute lo the assets of the company in the event of ils being wound up while they are members, or within one financial year thereafter, for the payment of the debts and liabilities of the Gompany Contracted before they ¢eased lo be members, and the costs, charges and expenses of winding up, and fLir the adjuslrnenl of the rights of the conlribulors among themselves, such amount as may be required, not exceeding £ 1. RELATED PARTY TRANSACTIONS The Iruslees of IncredABLE Enterprises are also trustees of IncredABLE. Al the year-end £nil 12024 - £43,43n was owed from IncredABLE in respect of financial assistance as disclosed in Note 11 to the financial stalemenls. 16. POST-BALANCE SHEET EVENTS There have been no significant events affecting the Charity since the financial yearwend. 17. TRUSTEE REMUNEPATION None of the Tru51ees reiVed nor waived remuneration for their services as Trustees during the current or previous finanGial year. 18