Camphill Community Holywood Company Limited by Guarantee Statement of Financial Activities (including income and expenditure account) Year ended 31 January 2024 2024 Unrestricted funds Total funds Total funds 2023 Note Income and ondowments Donations and legacies Charitable activities other trading activities Other income 879 307,850 271,164 25,429 605,322 879 307,850 271,164 25,429 11,510 259,430 206,039 116,149 593,128 Total Income 605,322 Expondlturo Expenditure on raising funds.. Costs of other trading activities Expenditure on charitable activities Total expendlture 260,944 371,349 260,944 371,349 632,293 204,557 392,299 596,856 10,11 632,293 Net expenditure and not movement In funds (26,971) (26,971) (3,728) Reconciliatlon of funds Total funds brought fon4vard Total funds carrled forward 58,426 31,455 58,426 31,455 62,154 58,426 The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. The notes on pages 17 to 27 ft>nn part of these financial statsments. 14 Camphill Community Holywood Company Limited by Guarantee Statemant of Financial Position 31 January 2024 2024 2023 Note Fixod assets Tangible fixed assets 16 49,535 7,334 Current assets Stocks Debtors Cash at bank and in hand 17 18 32,161 18,60g 57,178 107,948 28,136 16,613 79,847 124,596 Credltors: amounts falling duo wlthin one year Net current assets 19 69,856 38,092 87,627 73,504 51,092 58,426 Total assets less current Ilabilltle8 Creditorn: arnounts falling due after more than one year Not assets 20 56,172 31,455 58,426 Funds of the charlty Unrestricted funds 31,455 58,426 Total charity funds 22 31,455 58,426 These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies, regime. These financial statements were approved by the board of trustees and authorised for issue on 15 October 2024, and are signed on behalf of the board by.. Ms H Steffen Trustee Mr S Wilson Trustee The notes on pages 17 to 27 fomi part of these financial statèments. 15 Camphill Community Holywood Company Limited by Guarantee statement of Cash Flows Year ended 31 January 2024 2024 2023 Cash flows from operating activltles Net expenditure (26.971) (3,728) Adjustments for.. Depreciation of tangible fixed assets 6,748 2,638 Changes in.. Stocks Trade and other debtors Trade and other creditors (4,025) (1,996) (10,649) (36,893) (36,893) (15,368) 22,484 11,682 Cash generated from operations Net cash (used in)fftom operating actlvities 17,708 17,708 Cash flows from investlng actlvities Purchase of tangible assets Net cash used in investing activities {48,949) (48,949) {1,213) (1,213) Cash flows from financlng actlvities Other financing cash flow adjustment Net cash from financing activities 63,173 63,173 Net {docrease)fincrease In cash and cash equivalents Cash and cash •qulvalents at beglnning of year Cash and cash equivalents at end of year (22,669) 79,847 57,178 16,495 63,352 79,847 The noteg on pages 17 to 27 form part of these financlal statements. 16 Camphill Community Holywood Company Limited by Guarantee Notas to the Financial Statements Year ended 31 January 2024 General infonnatlon The charity is a public benefit entity and a private company limited by guarantee, registered in Northern Ireland and a registered charity in Northern Ireland. The address of the registered office is 8 Shore Road, Holywood, Down, BT18 9HX, Northern Ireland. Statement of compllance These financial statements have been prepared in Complian￿ 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 accordan￿ with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) {Charities SORP (FRS 102)) and the Companies Act 2006. Accountlng pollcle8 Ba81s of preparatlon The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure. The financial statements are prepared in sterling, which is the functional CUr￿neY of the entity- Going concorn There are no material uncertainties about the charity's abilty to continue. Judgements and key sourc88 of estlmation uncertalnty 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 reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Significant judgements There are no signfficantjudgements (apart from those involving estimations) that management has made in the process of applying the entity's accounting policies and that have the most significant effect on the amounts recognised in the financial statements. 17 Camphill Community Holywood Company Limited by Guarantee Notes to the Financial Statsments (contlnued) Year endad 31 January 2024 Accounting pollcles {conllnu•d) Fund accounting Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes. Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment. Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes.. restricted income funds or endowment funds. Incomlng resourcgs All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income.. income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably. legacy income is recognised when receipt is probable and entitlement is established. income from donated goods is measured at the fair value of the goods unless this is impractical to measure ￿lIablY, 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 included for the contribution of general volunteers. income from contracts for the supply of services is recognlsed with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted. 18 Camphill Community Holywood Company Limited by Guarantse Notss to the Financial Statements fcontinued) Year ended 31 January 2024 Accounting policles (contlnued) 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 costs of all fundraising activities, events, non- charitsble trading activities, and the sale of donated goods. expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitsble activities. other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities. All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attn'butable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis. Tangible assots Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other recognised gains and losses, unless it ￿VerSeS a charge for impairment that has previously been recognised as expenditure within the statement of financial activities. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other recognised gains and losses, except to which it offsets any previous revaluation gain, in which case the loss is shown within other recognised gains and losses on the statement of financial activities. Depreciatlon Depreciation is calculated so as to write off the cost or valuatlon of an asset, less its residual value, over the useful economiG life of that asset as follows.. Fixtures and fittings Motor vehicles Propety Improvements 10 % straight line 25010 Straight line 100/0 straight line Impaimient of flxed assets A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Vvhere the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. 19 Camphill Community Holywood Company Limited by Guarantee Notes to the Financial Statements (conllnued) Year ended 31 January 2024 Accounting policies fcontinuod) Impalrment of flxed assets (conllnued) For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the charity are assigned to those units. Stocks Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition. Flnancial Instruments A financial asset or a financial liability is ￿COgniSed only when the charity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs. Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted. Debt instruments are subsequently measured at amortised cost. Vhere investments in shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measU￿d 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, including derivatives, are initially ￿cOgniSed at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is rneasU￿d at the 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 financial activities, with the ex￿ptIOn of hedging instruments in a designated hedging ￿latIOnshIp. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised. 20 Camphill Community Holywood Company Limited by Guarantee Notes to the Financial Statements (wieinuedj Year ended 31 January 2024 Accounting policios {contlnued) Financlal instruments (contlnu•d) For all equity instruments ￿gardleSS of signifi'cance. and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised. Deflned contrlbutlon plans Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. Ilvhen contributions are not expected to be settled wholly within 12 months of the end of the porting 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 arises. Llmit•d by guarantee Llmited Ilablllty The liability of the Members is limited. Member obllgation8 Every Member undertakes to contribute such amount as may be required, not exceeding £5, to the Charity's assets if it is wound up while helshe is, or within one year after helshe ceases to be, Member for'.- payment of the Charity's debt and liabilities contracted befor8 helshe ceased to be a Member,. the costs, charges and expenses of winding up., and the adjustment of rights, be￿een thamselves, of persons who have contributed to the Charity's assets. Donations and legaci08 Unrestricted Funds Restricted Total Funds Funds 2024 Donatlons Donations 879 879 Grants Training Grant- NISCC Training Grant- Department of Hea5th 879 879 21 Camphill Community Holywood Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 31 January 2024 Donation8 and legacles fcontlnued) Unrestricted Funds Restricted Totsl Funds Funds 2023 Donations Donations 1,070 1.070 Grants Training Grant- NISCC Training Grant- Department of Health 3,240 7,200 10,440 3,240 7,200 1,070 11,510 Charitable a¢tlvltle8 Unrestricted Total Fund8 Unrestricted Total Funds Funds 2024 Funds 2023 Residential care Daycare Resident recharge 279,854 15,983 12,013 279,854 15,983 12,013 307,850 233,442 21,074 4,914 259,430 233,442 21,074 4,914 259,430 307,850 Other trading actlvitie8 Unrestricted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Shop & Bakery Cafe 206,597 64,567 271,164 206,597 64,567 143,156 62,883 143,156 62,883 206,039 271,164 206,039 Other incomo Unrestricted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Other income COVID-19 support CCTNI Revenue Support 3,429 3,429 20,316 8,333 87,500 20,316 8,333 87,500 116,149 22,000 22,000 25,429 25,429 116,149 22 Camphill Community Holywood Company Limitsd by Guarantee Notes to the Financial Statements (continued) Year ended 31 January 2024 Costs of other trading activities Unrestricted Total Funds Unrestricted Totsl Funds Funds 2024 Funds 2023 Costs of other trading activities- Shop costs 260,944 260,944 204,557 204,557 10. Expondlture on charitable activltles by fund typ Unrestricted Funds Restricted Total Funds Funds 2024 Community Support costs 368,849 2,500 368,849 2,500 371,349 371,349 Unrestricted Funds Restricted Total Funds Funds 2023 Community Support costs 379,359 2,500 381,859 10,440 389,799 2,500 10,440 392,299 11. Expendlture on charitable activltle8 by actlvity type Activities undertaken directly Support Total funds costs 2024 Total fund 2023 Community Governance costs 368,849 368,849 2,500 371,349 389,799 2,500 392,299 2,500 2,500 368,849 12. Net expendltur6 Net expenditure is stated after chargingl{crediting): 2024 2023 Depreciats'on of tangible fixed assets 6,748 2,638 13. Auditors rernunoratlon 2024 2023 Fees payable for the audit of the financial statements 2,500 2.500 23 Camphill Community Holywood Company Limited by Guarantee Notes to the Financial Ststsments (continued) Year ended 31 January 2024 14. Staff costs The total staff costs and employee benefits for the reporting period are analysed as follows: 2024 2023 Wages and salaries Social security costs Employer contributions to pension plans 305,766 16,231 5,743 327,740 282,128 14,543 4,500 301,171 The average head count of employees during the year was 18 (2023: 19). No employee received employee benefits of more than £60,000 during the year (2023: NII). 15. Trustee remuneratlon and expen808 One Trustee, Ms A Diesel is a c(Fworker and the Community registered manager, during the financial year 2024 she received a remuneration of £41,284 (2023 - £38,334) and a pension contribution of £1,051 (2023 - £941) for this positlon. One Trustee, Mr M Holecki is a co-worker who lives and works within the community. All co- workers, whether they are members of the board of Trustees or not, their needs are met by the Community of Camphill Holywood and includes living accommodation and daily essentials. These costs are of a communal nature and it is not practical to place a valuation on the specific amount. No other remuneration or benefits from employment with the charlty or a related entity were received by the trustees. Trustee Expenses no trustee expenses have been incurred 24 Camphill Community Holywood Company Limited by Guarantee Notes to the Financial Statements (conllnued) Year ended 31 January 2024 16. Tangible fixed assets Property Motor Improvement vehicles Fixtures and fittings Total Cost At 1 February 2023 Additions 76,013 1,695 77,708 22,409 98.422 48,949 147,371 47,254 At 31 January 2024 Depreclation At 1 February 2023 Charge for the year At 31 January 2024 Carrying amount At 31 January 2024 At 31 January 2023 22,409 47,254 68,679 1,963 22,409 91,088 6,748 97,836 4,785 4,785 70,642 22,409 7,066 42,469 49,535 7,334 7,334 17. Stock8 2024 2023 Finished goods and goods for resale 32,161 28,136 18. Debtor8 2024 2023 Prepayments and accrued income Other debtors 754 17,855 18,609 1,128 15,485 16,613 19. Creditor8: amounts falling due wlthln one year 2024 2023 Trade creditors Accruals and deferred income Social security and other taxes other creditors - Loan from CCTINI) Other creditors 14,626 29,805 8,283 7,000 10,142 69,856 9,306 42,695 2,951 10,490 8,062 73,504 25 Camphill Community Holywood Company Limited by Guarantee Notes to the Financial Statsments {￿ntInued) Year ended 31 January 2024 20. Creditors: amounts falllng due after more than one year 2024 2023 Other creditors - Loan from CCT(NI) 56,172 21. Penslons and other post retlrem•nt benefits Deflned contrlbutlon plan8 The amount recognised in income or expenditure as an expense in relation to defined contribution plans wa5 £5,743 (2023.. £4,500). 22. Analysis of charltable funds Unrestricted funds At 1 February 2 023 At 31 January 2 024 Income Expenditure General funds 58,426 605,322 (632,293) 31,455 At 1 February 2 022 At 31 January 2 023 Income Expenditure General funds 62,154 582,688 (586,416) 58,426 23. Analysls of not asset8 between funds Unrestricted Total Funds Funds 2024 Tangible fixed assets Current assets Creditors le5S than 1 year Creditors greater than 1 year Not assets 49,535 107,948 (69,855) {56,173) 31,455 49,535 107,948 (69,855) (56,173) 31,455 Unrestricted Total Funds Funds 2023 Tangible fixed assets Current assets Creditors less than 1 year Creditors greater than 1 year Net assets 7,334 124,596 (73,504) 7,334 124,596 (73,504) 58,426 58,426 26 Camphill Community Holywood Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 31 January 2024 24. Golng concern The charity's unrestricted funds show a net current asset position {excess of current assets over current liabilities) of £38,092 as at 31st January 2024. The charity has secured further revenue support from Camphill Communities Trust INI) for the years 2024125 amounting to £14,000. The Trustees of Camphill Community Holywood are in the process of implementing a 5 year business plan that will bring about stability in the financial position of Camphill Community Holywood by year ending 2025126. Therefore, the Trustees do not consider that there is any material uncertainty over the charity's ability to continue as a going concern and the financial statements are prepared on a going concern basis accordingly. 25. Analysls of chang85 In net debt At At 1 Feb 2023 Cash flows 31 Jan 2024 Cash at bank and in hand 79,847 {22,669) 57,178 26. Related partie8 During the financial year Camphill Community Holywood entered into a trading relationship with Mr Malcolm Lefevre. The purpose of the relationship was to purchase supplies from Mr Lefevre for the store. Mrs E Lefevre, a trustee of Camphill Community Holywood is married to Mr Lefevre. The total amount transacted in the financial year ending 2024 £432 (2023 £1601. During the financial year Camphill Community Holywood continued a trading relationship with Natural Health Products