UHUB Therapy Centre Company Limited by Guarantee ststement of Financial Activities (including income and expenditure account) Year ended 31 August 2024 2024 Restricted funds Total funds Total funds 2023 Unrestricted funds Income and endowments Donations and legacies Charitable activities Other trading activilies Investment inc¢)me 91.123 91,123 453,521 149.974 372 77,703 263,204 111.402 453,521 149,974 372 Total income 241.469 453.521 694.990 452,309 Expondilure Expenditure on charitable activities Total expenditure 9,10 242.745 245,875 488,620 460.601 242,745 245,875 488,620 460.601 Net Incomel(expendlture) (1,276) 207,646 206,370 18,292) Transfers beeen funds 172.652 (172,652) Net movement in funds 171,376 206.370 18,292) Reconciliation of funds Total funds brought forward Total funds carried forward 9.036 9.036 17.328 180.412 34.994 215.406 9.036 The ststernent of financial activities includes all gains and losses recognised in the year. All income and expenditure derive frorn continuing activities. The notes on pages 16 to 27 fom) part of these financlal statements. 13
UHUB Therapy Centre Company Limited by Guarantee Statement of Financial Position 31 August 2024 2024 2023 Nole Fixed assets Tangible fLxed assets 16 175.640 8,120 Current assets Debtors Cash at bank and in hand 17 28.956 76,299 40,812 60.997 105,255 101,809 Creditors: amounts falling due within one year Net current assets 18 65,489 100.893 916 39,766 Total assets less current liabilities 215.406 9,036 Net assets 215,406 9,036 Funds of the charity Restricted funds Unrestricted funds 34.994 180.412 9,036 9,036 Total charity funds 21 215.406 These financial statements have been prepared in accordance with the provisions applicable to companies subject lo the small companies. regime. These financial statements were approved by the board of trustees and authorised for issue on 9 May 2025, and are signed on behalf of the board by: L Wilkinson (Chair) Trustee The notes on pages 16 to 27 fomi part of thgse financial statements. 14
UHUB Therapy Centre Company Limited by Guarantee Statement of Cash Flows Year ended 31 August 2024 2024 2023 Cash flows from operating activities Net incomel(expenditure) 206.370 18,292) Adjustments for Depreciation of tangible fixed assets Other interest receivable and SiTnilar income Interest payable and similar char9es Accrued expenses 4,591 {372} 332 3.744 1.133 634 400 Changes in." Trade and other debtors Trade and other creditors 11.856 (39,1481 187.373 24.108 8,716 Cash generated from operations 26,699 Interest paid Interest received (332) 372 1634) Net cash from operating activities 187,413 26,065 Cash flows from investing activities Purchase of tsngible assets Net cash used in investing activities (172,1111 (172.111) (7,099) (7,099) Net increase In cash and cash equivalents Cash and cash equivalents at beginning of year Cash and cash equivalents at end of year 15.302 60.997 18,966 42,031 76,299 60.997 The notes on pages 16 to 27 fonn part of these finan¢ial statements. 15
UHUB Therapy Centre Company Limited by Guarantee Notes to the Financial Statements Year ended 31 August 2024 General infomtIon The charity is a public benefit entity and a private company lirnited by guarantee. registered in Northern Ireland and a registered charity in Northern Ireland. The address of the registered offiGe is 36 Hamilton Road, Bangor. Northem Ireland, 8T20 4LE. Statement of compliance These financial statements have been prepared in compliance with FRS 102, The 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 IrelaThJ IFRS 102) (Charities SORP (FRS 102)) and the Companies Act 26. Accountlng policies Basis of preparation The financlal statements have been wepared on the historical cost basis, as modffjied by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expendiknjre. The financial statements are prepared in sterling, which is the functional currency of the entty. Going ¢onc•rn There are no material uncertainties about the charity's abilty to continue. Judgements and key sources of estlmation uncertainty The preparation of the financial statements requires management to make judgements. estimates and assumptions that affect the amounts reported. These estimates and judgements are continually vieWed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circUmstans. Fund accounting Unrestricted funds are available for use at the discretion of the trust&s to further any of the chariws purposes. Designated funds are unrestrrted fu15 earrnarked by the trustees for particular fvtre project or ¢ommitmenL Restricted funds are subjected to restrictions on their expenditure declared by the donor or Ihrough the terns of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds. 16
UHUB Therapy Centre Company Limited by Guarantee Notes to the Financial Statements (¢onllnu•dJ Year ended 31 August 2024 Accountlng pollcles {conllnued) Incomlng resources All incoming resources are iluded in the statement of financial activities when entidement has passed to the tharity" it is probable that the economic befitS assock3ted with the transaction will flow to the chartty and the amount can be reliably measured. The following specific policies are applied to particular calegories of income: income from dortionS or grants is recogntsed when there is evidence of entit]ement to the gift, receipt is probable and tts amount In be measured reliabty. legacy income recognised bthen reIpt is probable aThJ entilernerrt is estsblished. income from donated goods is measured at the fair value of the go¢)Js unless this is impractical to measure reliably. in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are induded for the contribution of general volunteers. income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirernent for it to be spent on a particular purpose and retumed if unspent, in which case it may be regarded as restricted. Resources expended 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 activities to which it relates: expenditure on raising funds includes the $t$ of all fundraising activities, events, non- charrtable trading actIes, and the sale of donated good5. expenditure on charitable athities indudes all costs incurred by a charity in undertaking activities that further its charitsble aims for the benefit of its beneficiaries, including those support costs and costs relating to the govemance of the charity apportioned to charitable activilies. other expenditure includes all expenditure that is neittr related to raising funds for the charity nor part of its expenditure on tharitable adiwties. All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributsble to a single activity are allocated direcuy to that activty. Shared costs are apportioned beeen the activities they contribute to on a reasonable, justifiable and consistent basis. Tangible assots Tangible assets are initially recorded at cost. and subsequeTrUy stated at cost less any accumulated depreciation and impairment losses. Any tsngible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impaimient losses. 17
UHUB Therapy Centre Company Limited by Guarantee Notes to the Financial Statements (conlinuedj Year ended 31 August 2024 Accounting policies (eontlnu•d) Tangible assets (continuedj An increase in the carying anUnt of an asset as a result of a revaluation. i8 recognised in other recognised gains and losses. unless il reverses a charge for impaimient that has previously been recognised as expenditure within the statement of financial activib'es. A decrease in the carrying amount of an asset as a result of revaluation. is rewgnised in other woJnised gains and losses, except to which it oftsels any previous revaluation gain. in which case the Ic6s is shown within other recognised gains and losses on the statement of finanaal activities. Depreciation Depreciation is calculated so as to write off the cost or valuation of an a&8et, les5 its residual value. over the useful economic lrfe of that asset as folk)ws: Freehold propety Fixtures and fittings 2% straight line 33Yo straight line Impaimient of fixed assets A review for indicators of impairment is carried out at eath rtIng date. with the recoverable amount being estimated where such indicators exisL Where the carrying value exceeds the recoverable amount. the asset is impaired accordingty. Prior impairments are also reviewed for possible reversal at each reporting date. For Ihe PUTposes of impairment testing. when it is not wssible to estimate the recoverable amount of an individual asset. an estimale is made of the recoverable amount of the cash- generating unit to V4hh the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash infiows that largely independent of the cash inflows from other assets or groups of assets. For impaimient testing of gootfvrill, the goodwill acquired in a business combination is. from the acquisition date. allocated to each of the cash-generating units that a expected to benefit from the synergies of the combination. Irrespective of whether other assets or liabilities of the charity are assigned to those units. Financial instruments A financial asset or a financial liabiltty Is recognised onty when the charity bernes a paty to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the amount reNable or payable including any related transaction costs. Current assets and current liabilities are subsequentty measured at the cash or other ¢*nsideration expected to be paKI or rerVed and not discounted. Debt instruments are subsequenuy measured at amortised cost. 18
UHUB Therapy Centre Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 31 August 2024 Accounting policiès (conllnu¢d) Flnancial instruments {ntinued) Where investrnents in shaS are publtcly traded or thety fair value can otherwise be measured reliably. the investment is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impairment. Other financial instruments, induding derivatives. are initially rec<)3nised at fair value, unless payrnent for an asset is deferred beyond nomial business terms or fInand at a rate of interest that is not a rnarket rate, in which case the asset is measured at trie present value of the future payments discounted at 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 ffinanciJ activities. wtth the exption of hedging instruments in a designated hedging relationship. Financial assets that are measured at st or amortised cost are reviewed for objective eviden of impaimient at the end of each PortIng date. If there is objective evidence of impairrnent, an impaimient loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised. For all equity instrurnents regardless of significance. and other financial assets that are individually signtficant, these are assessed individually for impaimient. Other financial assets are either assessed individually or grouped on the basis of similar credtt risk characteristics. Any reversals of impairment are rec(gnised immediately. to the extent that the reversal does not result in a carying amount of the finanaal asset that exceeds wh* the carrying amount would have been had the impairnient not previously been recognised. Defined contributlon plans Contributions to defined contribution pIar are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised a5 an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are mt expected to be settled wholly within 12 months of the end of the reporting date 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 aris8S. Limited by guarantee UHUB Therapy Centr8 is a company limited by guarantee and has no share capital. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity 19
UHUB Therapy Centre Company Limited by Guarantee Notes to the Financial Statements (1orf) Year ended 31 August 2024 Donations and legacles Unrestricted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Donations Donations 91,123 91,123 77.703 77,703 Charitable activities Restricted Total Funds Funds 2024 Restricted Total Funds Funds 2023 DFC TNCLF CFNI Comic Relief CED BHSCT DOH SEHSCT BCC Garfield Weston COF 49.373 138,991 6.250 49,373 138.991 6.250 48.085 137.411 13.750 1.027 29.909 4.772 26.250 2.000 48,085 137,411 13,750 1,027 29.909 4.772 26,250 2,000 47.166 38,401 47.166 38.401 18.000 155.340 18.000 155.340 453.521 453.521 263.204 263,204 Other trading activities Unrestricted Total Funds Unstricted Total Funds Funds 2024 Funds 2023 Coun5elling sessions 149.974 149,974 111,402 111.402 Investment income Unrestricted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Bank interest receivable 372 372 20
UHUB Therapy Centre Company Limited by Guarantee Notes to the Financial Statements {conttnued) Year ended 31 August 2024 Expendlture on charltable actlvitles by fund type Unrestricted Funds Restricted Total Funds Funds 2024 Charitable adivities Support cosls 228,261 14,484 245,875 474,136 14,484 242.745 245.875 488.620 Unrestrtcted Funds ReStrted Totsl Funds Funds 2023 Charitable aclivities Support costs 195.073 2.324 263.204 458.277 2,324 197.397 263.204 460,601 10. Expenditure on charitable activities by activity type Actiwties undertaken directly Support costs Total funds 2024 Total fund 2023 Charitable activities Govemance costs 474,136 474,136 14,484 458,277 2,324 14,484 474,136 14,484 488.620 460.601 11. Net incomel(expendilure) Net incomel(expenditure) is stated after Chargin(cred[lIng). 2024 2023 Depreciation of tangible fixed assets 4.591 1.133 12. Auditors remuneration 2024 2023 Fees payable fcx the audit of the financial ststements 3.744 13. Independent examination fees 2024 2023 Fees payable to the independent examiner for. Independent examination of the financial statements 1,200 21
UHUB Therapy Centre Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 31 August 2024 14. Staff costs The total staff costs and employee benefits for the repcKtirNJ period are analysed as fc41ows: 2024 2023 Wages and salaries Social security costs Employer contributions to pension plans 261,994 13,776 4,815 250,585 11,257 5,076 280.585 266,918 The average head count of employees during the year was 15 (2023: 17)- No employee received employee beneffts of more than £60.oc during the year12023: Nil). Key Management Personnel Key management personnel include all persons that have authority and responsibilty for planning. directing and controlling the activthes of the charity- The total compensation paid to key management personnel for services provided to the chartty was £57,85412023:£62.990). 15. Trustee remuneration and expenses No trustees have received remunerdtion or rrnburSernent of expenses during the year. 16. Tangible fixed assets Freehold Fixtures and proFErty ffttirKJs Total Cost At 1 September 2023 Additions 11,330 200 11.330 172.111 171,911 At 31 August 2024 Depreciation At 1 September 2023 Charge for the year At 31 August 2024 Carrying amount At 31 August 2024 At 31 August 2023 171.911 11,530 183.441 3,210 1.153 3,210 4,591 3,438 3.438 4.363 7.801 168.473 7.167 175.640 8,120 8,120 22
UHUB Therapy Centre Company Limited by Guarantee Notes to the Financial Statements (Mnimuedj Year ended 31 August 2024 16. Tangible fixed assets (¢ontlnued) UHUB purchased a building in the year, 36 Hamiliton Road. Bangor for £171.911. in which they receNed fuThJing from COF and Garfield Weston for this. 17. Debtors 2024 2023 Trade debtors Olher debtors 26.819 2.137 33,735 7,077 28.956 40,812 18. Creditors: amounts falling duo withln one year 2024 2023 Trade creditors Accruals and deferred inLX)me Social security and other taxes 10.424 51,355 3.710 14,381 79,657 6,855 65.489 100,893 19. Deferred income 2024 2023 At 1 September 2023 Arnount released to inc¢Nne Arnount deferred in year At 31 August 2024 78,457 (78,457) 46.411 78.457 46,411 78,457 20. Pensions and other post retirement benefits Defined contribution plans The amount recognised in income or expendire as an expense in relation to defined contribution plans was £4,815 (2023: £5,076). 23
UHUB Therapy Centre Company Limited by Guarantee Notes to the Financial Statements lcontsnued) Year ended 31 August 2024 21. Analysis of charitable funds Unrestricted funds At 1 September 2023 At 31 August 2024 Income Expenditure Transfers Gen8ral funds Capital fund 9.036 241.469 {239,307) (3.438) (242,745) {688) 173.340 10.510 169,902 9.036 241.469 172.652 180,412 At 1 September 2022 At 31 August 2023 Income Expenditur8 Transfers General funds Capital fund 17.328 189,105 (197,397) 9.036 17,328 189.105 (197,397) 9,036
UHUB Therapy Centre Company Llmlted by Guarantee Notes to the Financial Statements fconfrnue(9 Year ended 31 August 2024 21. Analysls of charltable funds (conbnu8d) Reslrl¢ted funds At 1 September 2023 At31 Transfers August 2024 Income Expenditure DFC TNCLF CFNI Comic Relief CED BHSCT DOH SEHSCT BCC Garfield Weslon TNLCF - Cost of Living COF 49.373 124.098 6,250 (50,061 > (124.098) (6,250) 688 47,166 38.401 {46,415} (9,410) 751 28,991 18.000 14,893 155.340 (18,000) (9.641) 5,252 (155,340) (245.875) (172,652) 453,521 34.994 At 1 September 2022 At31 Transfers August 2023 Income Expenditure DFC TNCLF CFNI Comic Relief CED BHSCT DOH SEHSCT BCC Garfield Weston TNLCF - Cost of VIng COF 48.085 137.411 13,750 1.027 29.909 4.772 26.250 2.000 (48,085) (137,411) 113.750) {1,027) 129,909) (4,772) {26.250) (2,000) 263,204 {263.204} Transfers have taken place in the year which relates to fixed assets. Uhub Therapy Centre used funding to purchase a building in Ihe year, which has been transferred to Unrestrided Funds as UHub ftslly own this asset. no restriction has been placed on this asset. 25
UHUB Therapy Centre ompany Limited by Guarantee Notes to the Financial Statements (eonlinu8d) Year ended 31 August 2024 22. Analysis of net assets between funds Unrestricted Funds Restricted Total Funds Funds 2024 Tangible fixed assets Current assets Creditor5 less than 1 year Net assets 175,640 23,850 119.078) 180,412 175.640 105,255 {65.489) 215.406 81.405 (46,411) 34.994 Unrestricted Funds Restricted Total Funds Funds 2023 Tangible fixed assets Current assets Creditors less than 1 year Net assets 8.120 101,808 (100.892) 9,036 8,120 101,808 1100.8921 9,036 23. Ethi¢al standards In common with many oth businesses of our size and nalure we use our audttor5 to prepare d submit returns to the tax authorities and assist with the preparation of th8 financial statements. 24. Taxation Th8 Company is a registered charity, and as such is entled to tax exemptions on income and profits in furtheran of the charity's primary obJ"ectives. 25. Contingencies A contingent liabilty exists to paY grants and Trust monies received s)Uld rtain condittons not be fulfilled by the charity. In the opinion of the Trustees. the terms of the Letters of Offers have been, or will be, complied with and no liabilty ts expected. 26. Going concern The financial statements have been prepared on the going concem basis which assumes the company will continue in operalional existen for the foreseeable future. The validty of this assumption deperKls upon the conb'nugj support of grant funding. The balance sheet shows unrestricted reserves of £180.412. However £175,640 is tied up in tangible fixed assets. Without the fixed assets. the balance sheet would be showing a balance of £4.772. which does nol meet the target of the reserves policy of 6 months unrestricted expenditure which amounts to £244,310 for the year. 26
UHUB Therapy Centre Company Limlted by Guarantee Notes to the Financial Statements (continu8dJ Year ended 31 August 2024 27. Analysis of changes In net debt At At 1 Sep 2023 Cash flo4VS 31 Aug 2024 Cash at bank arKI in hand 60.997 15.302 76,299 28. Related parties FHNI is a related party to UHUB Therapy Centre. both organisations are co-founded by the same people and share resources. 27