Skilled Nl STATEMENT OF FINANCIAL ACTIVITIES for the financAal year ended 31 Marth 2026 Unrestricted Restrtcttd Funds Funds 2026 2026 Totsl Unrestricted Restricted Funds Funds Fvnd5 2026 21Y25 2025 Total Funds 2025 Income Charitable aCtive$ Investments 4.1 1.330.191 42 36,899 30.613 1.360.804 1.C69.685 36,899 35.227 132.049 1.201,734 35,227 Total income 1.367,090 30.613 1,397,703 1.104,912 132,049 1,236,961 EXperKlIre Raising funds Charttable activities 8.503 6.2 1,154.963 8,503 71.403 1.226,366 5.224 915,894 2.637 7.861 111.898 1,027,792 Totsl Expenditurg 1.163,466 71.403 1.234,869 921.118 114,535 1,035,653 Net gainsllb55es) on investments 111.88B 111.888 6.398 6.398 Not ine¢)mÈl{expenditurel 315.512 140,7901 274.722 19).192 17.514 207,7C6 Transfers bahveen funds 17.0251 7,025 Net movemènt in funds for the financial year 308.487 133.7651 274.722 19J.192 17,514 207.7 Reconciliation of funds: Total frjnds beginning of the year 21 1.611.088 33.765 1.6440S3 1.420.8 16,251 1.437.147 Totsl funds at the end of the yèar 1.919.576 1.919,$75 1,611.088 33.765 1.644,853 The Statement ol Financial ActiVeS irKludes all gains aThJ knsses re¢r•3nised in the finarrial year. All income and eKpendilure relate to continuing activitu. The notes on pages 17 to 24 lrym part ofthe finanual statemerts 14
Skilled Nl BALANCE SHEET as at 31 Marc) 2026 2026 2025 Fixed Assets Tangible assets Inve51rnents 14 1S 33,583 1,471.895 11.514 1,332.309 1.505A78 1,343,823 Cuffent Assets Debtors Cash al bank and in hand 16 17 64,023 374,517 94.501 228,848 438.$40 323,349 Crèditots: Amounts falllng due wlthln one year 18 124.443) {22,3191 Net Current Assets 414,097 301,030 Total Assèts less Current LiabSlltl8s 1,919,S75 1.644,853 Funds Restricted iTUSt funds General fvnd {unreslrictedl.' Called up share caprtal Other unrestricied income furKts 33.765 10 1.919,565 10 1.611.078 Total funds 21 1.919.57S 1.644.853 Approved by the Board ol Tnts1 and authorlsed for issue on 30 June 2026 and slgned On Its bphalf by P Donaghy Trustee G M¢Allistef TNsts¢ Th8 notes on p3es 17 to 24 frjtm oftt* finanrial statern8nts 15
Skilled Nl STATEMENT OF CASH FLOWS for the financial year ended 31 March 2026 2026 2025 Notes Cash flows from op•rating activitie5 Nel movement in funds Adjuslrnen15 for= Amount written back on investrnents DepciatIon Interest receNable and simikr incune 238,521 172,742 1111,8881 11,557 16981 16,3981 4,361 12631 137.492 170,442 Movements in working captial.. Movernenl in debtors Movement in creditors 30.912 2.124 148.9701 4.814 Cash genèrated froffl operalions 170.528 126.286 Cash fl¢)ws from investtng actlvltles Interest received Payments to acquire tangible assets Payments to acquire investments Receipts from sales of investrwts 36,464 {33,62SI 1377.0801 349,382 12,2191 1362,7591 355,656 Net cash used in investment aclMtie5 124.8591 5,642 Net increase In cash and ¢a$h equivalerts Cash and cash equlvalents at the beginning of the year 145,669 228.848 131,928 96,920 Ca$h and cash equlvalgnts at thtr end of the year 17 374.517 228,848 16
Skilled Nl NOTES TO THE FINANCIAL STATEMENTS for the finanual year ended 31 March 2026 GENERAL INFORMATION Skillwj Nl a public benefft entity and a wistered sxaety limited by shares, registered in Northem Ireland with FCA Mututals Register and a regisleted ¢haiity in Northem Ireland. The registered office of the charity is 98- 102 Donegall Street, Beff3sL BT12GWwlNth is a150 the prinapal ace ol business oflhe charrty. The fInarla1 statÈmen15 have been sented in PourKJ I£} which 15 also the fvncth)nal currency of the charty. SUMMARY OF SIGNIFICANT AccouKnNG POUCIES The followtng accounting P)leS have been consistentty in dealing Mth items lch a considered rnaterial in relation to the thariS finawal statements. Basis of preparation The financial statements have been prepared under the historical oJ51 convention. modified to include certain items at fair value. The financial statements have been prepared in accordance with the Statement ol Recommended Prac11 (SORP) 'Accounting and Repoiting by Charities preparing their accounts in accoTd3ncè with the Financial Reporting Standard applicab in the UK and Rewblic of IreLand FRS 102.. Statement ol compllan¢e The finawal statemen15 of charity for Ihe finar431 year ended 31 March 2026 have been prepared on the going concem basis and in accordance with the Statement of Recommended Prath"ce ISORPI"Accounting and Reporting by Charibes rKepating1heii in 1rd wilh Finan(xal Reporb"ftg Standard applicable in the UK and Republic of Ireland FRS 102", and the Cfyopefative and Communty Beftefil Societies Act (Northem Ireland) 19. Fund accounting The following are the catsgcrfies of fLwJds mwntsined: Restrl¢tsd funds Restricted funds represent income receNed which can onty be used for wticular purposes. as SFocified by the donors. Such wrposes awe wiihin the overall lteS ofthe chanty. Unrestricted funds Unrestricted funds consist of General and Designated fimd5. . General fiJThls represent anUnts whK are expendable at the disLYeb"on of the board, in lurtherance of the objectives of the chaity- Designated funds comprise unrestr]"¢te(I funds that the board has. at its disuetion. sel aside for particular purposes. These designy)ns have an admini51ralive purpose only. and do not legally $trict the board's dlsffttion to apply the luThl. In¢ome Income is reoajgnised by IlUSh)n in the Slatemwl of Fiarla1 ActitieS ontywhen the charity is legally enlTtled thè in¢x)me, perfonnarKe conditt'ons attad)eil to the ilemlsl of income have been met. the amounts inVoed can measured wilh SLfficgent reliability and il is prjab Ihat the irKome will be [ed by the charity. Income from charitable activities Incomè from charitable activrties [lUde incctho eamed from the suppty of seThices utx1er contractU81 arrangements arvj from perfOna rdaled grants which have conditKJn5thal specty the provision of particular senrice5 to be provided by Ihe charty. Inctyne fr(xn govemmenl and other co-fvnders is recognised when the charty is legally entitled to the Irome because it is fuffillirvJ the ndIonS conlained in the ielated funding agreements. Vvhere a grant is receNed in Jvance, Éis [ecogn"On deferred aThJ included in creditors. Where entiuemenl o(XUfs before inccffie is receNed. il is accrueil in debl(¥5. Grants govemments and other cfUers typKalty indude orE of the following tyFes 0fndIt1M$. . Perfomiance basal Ccd[bons.' whereby the charity 1$ contractuty entitled lo fijnthng onty to the extent that the core obJ"ectives ofthe grant agreement are achieved. Where Ihe charity is meeung the core objectives of a grant agieemenL it recognises the related expen{Jrtu. to the extent that it is reimbursable by the donor, as income. Tim8 based (xjnthllcs'. whereby the charity is contra*•)1rtIed to funding on the C(dition that11 Is uliSed 17
continued Skilled Nl NOTES TO THE FINANCIAL STATEMENTS for the financial yeat ended 31 Marth 2026 in a particular perh)d. In thesecases the charity recognises the irKorrEto theextent il 15 Utili5ed within the POTiryJ specified in the agreerrEnt. In the absence of such condrttons. assuming Ihat receipt is [Obable ant1 the amount can te refiably measured, giant irrne is recognised once the charity is rntified of entrtlernent Grants received towards capital expen¢fitLwe ar8 credited to the Statemw)l of Finanual ActNitie5 vthen reced or receNable, whKhever is earfier. Expènditure Expenditure 15 atysed bett¥een costs of charitable acbwbes and raising ftjnds. The Costs of each activity are separately accumulated and disclosed, and analysed according to thèir major (x)rnFK)nenls. Expenditure is recognised when a legal or constructive obligatson exists as a rttuti of a past event. a transfer of economic beneffts is ruired in settlement and the amount of the obliqation can be reliably measured. Support sts are those functions that assist Ihe work of the charity bLrt cannot Èe attributed to one activity. Such costs are allocated lo actiwlie5 in proportion to staff time spent or other Sullab measure for each activity. Investments In •s$rrtiatss Investments in associates aLx(wnted for in aC[danCe wilh the c05t fflojel are recordgj at cosl less any accumulated impaimwit kmes. Inve5trnents in aSsateS aecounled for in accordarKe wlh the fair value model are initially recorded at the transaction price. At eh rep(xling dale, the inveslfftnts are rne85ur&J at fairvalue, with charrtJes in fair value tsken through income or &xnditur9. Whère il 1$ imwa¢ti¢ab to measuwe fair value reliably wilhout undue cost or effort. the cost model will be adopted. Diwdends and other dislritJtions reVed from the investrftent rÈcoynised as income wthout regard to whether the dislribJtions are from accumulated proffts of the assoaate arising befo after the dale of acquistb"on. Investmènts In joint venreS Investnknts tn joinuy controll&Y entithes nted for in accordan with the cost modd are [rded al cost less any accumulale<l imp8irmenl k)sse5. Investments in inY (x)ntrdle(l enlits accounted for in cOrdanCe with the fair value model arè inibally recorded al the transaction price. At each porting dale. Ihe investments are measured at fair value. with Changes in fair value taken through i[Hn8 or ex1¢Te_ ere it 15 impractae lo measure fair value IAbly with1 undue cost or effort. the cost model wil { thptwj. Dividends and other distributions received from the inveslJnenl are re¢ogni5ed as income without regard to whether the distributtons are from accumykled proffts of joint venture afiSiNJ before or after the date of acquisits. Impalmient of fixed assets A review for indicators of impairment is carried out at each rew)rtiThJ date. wrth the recoverabje amount being estimated whefe sh indicators exist. Where the carying value exceeds recoverable amwnl. the as5el is impaired accorthngty. Prior iThvirnts are also reviewed ts possitlg r8versal at each retx)rting dale. For the purpose5 of irnpaim testing. when it is Th)t F¥)ssIe to estime the recoverable amount of an indTvidual asset. an estwnate is made of the recoverable amount of the cash-gènerab"n9 tJnf( lo which the assèt belongs. The cash-generating unit is the smalest idents'fiable group of assets that includes the asset generates cash inllows that large independent of the cash inflows frorn other assets or groups of assets. For impami•rt lestiTrJ of gr1]1. the whill acquired in a bUsIsS combinat*Jn is. frLxm the acquistb'on ¢Jate, allocated to each of the caShenerating unrts that are expected to benefft from the synergies of thèeombinalion, irrespe¢ti¥e of whelher othei assets or liabilIeS of Ihe charity are as99n lo those units. 18
¢ontinued Skilled Nl NOTES TO THE FINANCIAL STATEMENTS for the financial year ended 31 March 2026 Tanglbl• fixed assets and dePl¥ti Tangible fixeil 8S5els are slated at cost or at valuation. less acrJJmulaled depreciation. The charge to depreciation is caicuiated to write off the owigin81 cosl or ¥uall0n of tangible ed a55e15, less Iheir estirnated residual value, over thw"r expected u5efiJl INes a5 follw5.' Shfmt Seased property Plant and machinery Fixtures, fiitings and equIwnt Computer Equipment 20% Straight line 12% Straight line 120h Sliaight line 33% strahl line Investh)ents Unlisted 8quity investrnenls are inilialty ie¢ordeil al c051. arKI sub5equenlty measured al fair value. If fair value cannot be reliably measure(l. assets are measureil al cost less impaiment. Listed investments are rrSUd at fair value with thanges in fa vaue being recognised in income or expenditure. Debtors Debtors are recognised at the setuement arrKJunt due after any discount offered. Prepayments a valued al the amount prepaid netofany trade discounts due. Income recognised by the charity from govemrnentagenci8S and other uFfvThJers, but not yet Ned at fin1 year end. is included in debtor5. Cash at bank and in hand Cash at bank and in haThJ cash dep)sit at banks re4uiring 58 than three rnonlhs notice ol withdrawal. Taxatlon The Company is a wislered charty. aThJ as w¢h is enlrtle(I lo tax exempl$ on income and profits in rtherance ofthe charivs primary obiecbves. Pensions The charty operates a defined contribution pension scheme for employees. The assets of the scheme are hèld separalety from those ofthe charity. Annual contributions payable to Ihe charity's pension $che are charged to the profft and Ios5 acwjnt in the perJd to wthh Ihey relate Financial Instruments A financi a55et or a financaal lialMIty ts rth)JgrM5&J onty when the charity becomes a party lo the contractual provisK)ns of the instwmenl. Basic financial instruments a inrtialty reo)gNs&4 81 amwnl receae or payable induding any lated transacb.on costs. Current assets and ojrrent fiabilibes a subsequwtly measurpd al the cash orotrr(x)n$iderion expe(ed to be paid or received and not disc(xJnted. Debt InstrentS a suWuw)lty waSUd at 01$ed (1. here investments in shares are pUty traded or their faK value can othemse be measured reliably, the investment is Subsequent measured at fair value wth changes in fair value recognised in ineA)me and expendibjre. Al other suGh inveslments are subsequenty rTW5uied al ¢osl lèss impament. Other finanaal instruments. including derNabves. are inthalty recognised at fair value. unless payment for an asset is deferred beyond nom)al trojsiness tern OT financed at a rate of interest that is not a mathet rate. in which case the asset is measured at Ihe present of the fulure paym8nts disixJunt8d at a market r9 of interest for a similar debt irtstsumt. Other financial inslruments are subwuenty measured at fair value. with any changes recc4Jnised in th9 statement offinancHI a¢tNtbe$. wth the exceptkjl of gIng instruments in a designated hedging relationship. Financial assets Ihat arè measured at cost or amortised cost are revievAI for objective evidence of impairmènt at the end of eath reporti)g dale. If there is obiecbve dee of impalmnI. an Impalmnt loss recognised 19
¢ontinu&l Skilled Nl NOTES TO THE FINANCIAL STATEMENTS lor the finanal year ended 31 March 2026 under the appKspriate hea(h)g in Ihe statement of finarKial *tivthes in which the inibal gain was recognised. For all equty instrLThents regardless of SnIfICa. and other finarla1 assets that are individually 5KJnrficant, these are assessed indwidualty for Ynpwrment. Other financial assets are eiiher a55es5ed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impaimient a rwnis&J irm)edtatety. to the extent that the reversal does not result in a carrying amoLtnt of the financial asset that exceeds what the c4rryiThJ aTTnt wwld have teen had the irnpaimient not prewOuS been recognised. PROVISIONS AVAILABLE FOR AUDITS OF SPIALL ENTlEs In common wth mary other chaiity of our size and nature, we use our authrs to as5151 with the preparation ol the financial statements. INCOME CHARITABLE ACTMTIES Unrestricted Restricted Funds Funds 2026 2025 Incomè from ¢h#ritsble athities: Department for the EnomY Service Income Community FoUndalM NI PHA Department for Education BCC Other Income 1.301.517 24,652 1,301,517 24,6S2 7,07S 3,775 23,S38 7.041.613 22,357 28,302 1,160 87,949 15.798 4.555 7,075 3.775 23.$38 247 247 1.330,191 30,613 1,360.804 1,201,734 INVESTMENTS untrICted Restricted Fund$ Funds 2026 2025 IncLxM8 fr(x)7 listed investsnwts Bank interest receae 36.201 36,201 698 34.964 263 36.899 36.899 35.227 EXPENDITURE RAISING FUNDS Direct Costs Support Costs 2026 2025 Costs Investment portfdio rnanagerrEnl 8.503 7,861 20
continued Skilled Nl NOTES TO THE FINANCIAL STATEMENTS for the financial year ended 31 March 2026 CHARITABLE ACTp4mES Oirect Support Costs 2026 2025 Training and Educati Govemance Costs 1.193.823 28,195 1,220,018 6,348 1.021.835 5.957 1.193.823 32,543 1,226.366 1.027.792 SUPPORT COSTS Charitable Activities 2026 2025 Finance Costs Premises PTOfe55iOn Fee5 Govemance Costs Staff Costs 355 4.977 8.280 35S 4,977 8,280 6,348 12,S83 290 5,026 8.328 5,957 11.330 12,583 32.543 32.S43 30.931 NET INCOME 2026 2025 Net Income Is ststsd aftw chargIn(credItIng}. DepreciatKJn of tangible assets Auditorfs remuneration: - audr( services 11,557 4.361 5,957 INVESTMENT AND OTHER INCOME 2026 2025 Bank Inte$1 Investment ineome 263 34.984 36.201 36.899 35,227 AMOUNT WRirrEN BACK ON INVESTMENTS 2026 2025 Amounts written off invesknents in prw)r fina y$ wiitten back: - fixed assets 1111,8881 16,3981 10. EMPLOYEES AND REhlUNERAT50N The staff costs comp¥ise: 2026 2025 Wages and Salaries Social security costs Pens¢on costs 499,471 52.056 34,028 469,381 40.035 32.221 S8S.SS5 541,637 The average head count ofempbyees during the yearvms 17 {2025.' 16). 21
continued Skilled Nl NOTES TO THE FINANCIAL STATEMENTS for the finanoal year ended 31 March 2026 11. The numter ofemployees v•tw total efflployee t)enefits lexduding employer PSk)n eostsl kn the rewting period fell within the bands belowwere: 2026 2025 Number of Number ol Employ8es Employees £60,1)XI- £69,999 12. KEY MANAGEhlENT PERSONNEL Key rnanagemenl Fef50nnel irKlud& all persons that have aUtNity and responsibiltyfor pLning, direcling and ntrolling the activilies ofthe ¢h8nty. The lotsl compensation to key management perscfinel for seNices provKJed lo the charity was £124.7051202S." £120.207). 13. TRUSTEE REMUNERATION AND EXPENSES No tnJstee$ We reimbursed for expenses duiir4J the year (2025'.NiD. 14. TANGIBLE FIXED ASSETS Short leasehold property Plant and Firn$, Computsr machirRry fitting5 and Equlpmènt equiFthent Totsl Cost Al 1 April 2025 A(Idilions 142. 59,949 12. S1.746 1.357 93.004 20.172 347,584 33,625 At 31 hAareh 2026 142.885 72.045 53,103 113,176 381,209 D•poeiati¢)n At 1 April 2025 Charge for the finar41 year 142.452 217 47.246 1.258 91,288 8.253 336,070 11,556 1.828 At 31 March 2026 142,669 58,912 99,541 347,626 Net book value At 31 Marth 2026 216 15,133 4.599 13,63S 33,583 At 31 March 2025 433 1.716 11.514 22
¢onthnu&J Skilled Nl NOTES TO THE FINANCIAL STATEMENTS for the financial year ended 31 March 2026 15. INVESTMETr¥rs Other Investrnents Investments Cost Al 1 April 2025 Additions Disposa15 Revaluations 1,332,309 377,080 1349.3821 111,888 At 31 2026 1,471.895 Net book value At 31 March 2026 1A71.895 At 31 March 2025 1,332.309 AJI investments shown above are hekj at vahjation. Firkancial assets hekl al fair value Inveslrnents are held at farvabje. is based cm valuaticn by irweslmenl managers Quitsr Cheviot. 16. DEBTORS 2026 2025 Other debtors Prepayments and ae£rued ItOme 54.962 9,061 83.014 11,487 64.023 94.501 17. CASH AND CASH EQUIVALENTS 2026 2025 Cash and bank batarKes 374,S17 228,848 18. CREDITORS Am¢unts falling due wtthin one year 2026 2025 Trade creditor5 Taxation and 50¢i3l 5ewrity ¢Thts (Note 19) Aeerual$ 8nd deferred ino)me 3,960 12,145 8.338 3,867 10,599 7,853 22,319 19. TAXATION AND SOCIAL SECURITY 2026 2025 Credltors." PAYE I NI 12.14S 10.599 20. PENSION COSTS- DEFINED CONTrIBUTION The charity operates a defined contributiC penSJn scheme. The assets of the scheme are held separately from thos8 of the d)arrty in an admink%lwal fund. pensi Costs amounled lo £34,02812025- £32,221} 23
continued Skilled Nl NOTES TO THE FINANCIAL STATEMENTS for the financial year ended 31 March 2026 21. FUNDS 21.1 RECONCIUATION OF MOVEMENT IN FUNDS Unrestricted Restricted Funds Fund$ Total Funds Al 1 April 2024 Movement during Ihe finarrial year 1.420.896 1.792 16.251 17.514 1.437.147 207.7( At 31 March 2025 Movement during the finaroal year 1.611,088 308.487 33.765 {33,7651 1.644.853 274.722 At 31 AAarth 226 1,919.575 1,919,575 21.2 ANALYSIS OF MOVEMENTS ON FUNDS Balan¢e l Aprll 2025 In¢ome Expendlty Transfèrs between funds Balance 31 March 2026 Community Foundath)n Nl Department for Educalmjn 16,712 17,053 7,075 23,538 30,812 40,591 7.025 33,765 30.613 71,403 7.025 unstrICted funds General Funds Called up sh8re caprfal 1.611.078 10 1.367.0 1,051.578 (7,0251 1,919,565 10 1,611.088 1.367,0 1.051,S78 (7.0251 1.919.575 Total funds 1,644,853 1.397,703 1.122,981 1,919,S75 21.3 ANALYSIS OF NET ASSETS BY FUND Fed Financial assets fixed - charity use Current assets Current liabilit Total Unrestricted general funds 33,583 1,471.895 438,540 124,4431 1.919.575 33,583 1A71.895 438.540 {24,4431 1.919.575 22. CONTINGENT UABILMES A contingent lialty exists lo paY grants and Trust moniès r8CeNed should certain CndIonS not te fulfilled by the charity. In the opirrion of the Twstaes. thè tem% ofthè Lottèrs ol Offers teen. or tMII be. complied with and no liability is expe¢Aed. 23. POST.BALANCE SHEET EVENTS There have been no svjnffjant events affethng the Chlty since the financ year*nd.