THE GOAL LINE YOUTH TRUST FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024 Charlty Number NIC108786
THE GOAL LINE YOUTH TRUST FINAIYCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024 CONTENTS Page Administrative details Report of the Board of Trustees Independent examiner's report lo the trustees Statement of financial activities Balance shect 10 Staternent of Cash flows 11 Notes to the financial statements 12-24
Page I THE GOAL LINE YOUTH TRUST ADMINISTRATIVE DETAILS Charlty name The Goal Line Youth Trust Charity reference number NICI 08786 Reglstered Office clo Thompson Mitchell Solicitors 12-14 Mandeville Strcct Portadown BT62 3NZ Trustees Goal Line Youth Trust Limited - The Chairman Peter M Thompson Treasurer Alan R Wylic Independent examlner B J Friar FCA GMCG Belfast Chartered Accountants & Statutory Auditor Alfred House l9 Alfred Street Belfast BT2 8EQ Banker$ Danske Bank 45-48 High Street Portadown BT62 ILB Sollcltors Thompson Mitchell 12-14 Mandeville Street Portadown BT62 3NZ
Page 2 THE GOAL LINE YOUTH TRUST REPORT OF THE BOARD OF TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2024 The Board of Trustecs present their report and financial statements of the Trust for th¢ year ended 31 March 2024. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) "Accounting and Reporting by Charities" (FRS 102) in preparing the annual report and financial statements of the Trust. The financial statements have been prepared in accordanc¢ with the accounting policies set out in notes to the financial statements and comply with the Trust's governing document, the Charities Act (Northcrn Ireland) 2008, the Charities (Accounts and Reports) Regulations (Northcrn Ireland) 2015, Accounting and Reporting by Charities: statent of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland issued in October 20 19, the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and UK Generally Accepted Accounting Practice. ADMINISTRATIVE AND REFERENCE DETAILS Charlty name Th¢ Goal Line Youth Trust Chirity reference number NIC108786 Trustee8 who served the charity durlng the year Goal Line Youth Trust Limited - The Chalrman Peter M Thompson Treasurer Alan R Wylie Reglstered offlee clo Thompson Mil¢hell Solicitors 12.14 Mandeville Street Portadown BT62 3NZ Audltor B J Friar FCA GMCG Belfast, Chartered Accountants & Statutory Audilor. 19 Alfred Street, Belfast, BT2 8EQ Bankers Danske Bank, 4548 High Street, Portadown, County Arniagh, BT62 1 LB Sollcltors Thompson Mitchell, 12-14 MaThdeville Street, Portadown. Co Arniagh, BT62 3NZ PUBLIC BENEFIT STATEMENT The trustees of The Goal Line Youth Trust confirn) that they have had due regard for the guidance on Public Benefit by the Charity Commission for Northern Ireland and are pleased to report that during the year the charity has continued to provide Public Benefits through programmes and services we offer. In particular, the trustecs consider how planned activities will contribute to the aims and objectivcs they have set out.
Page 3 THE GOAL LINE YOUTH TRUST REPORT OF THE BOARD OF TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2024 (continued) OBJECTIVES AND ACTIVITIES The objective and principal activity of the Trust is to advance the education and to promote the health of young people in and around the Portadown and Craigavon areas. STRUCTURE, GOVERNAIYCE AND MANAGEMENT CONSTITUTION Ih The Trust was constituted on 15 May 1989 by a Deed of Declaration of Trust as PRFC Charitable th Youth Trust. The present constitution is set out in a Deed of Trust dated 7 December 1994 and on I" October 1996 th¢ nam¢ of the Trust was changed to The Goal Line Youth Trust. Further infomiation on the Trust and the members of th¢ Board of Trustees can be obtained from: Peter M Thompson cjo Thompson Mitchell Solicitors 12-14 Mandeville Street Portadown BT62 3NZ Organl$atlonal structure and related parties Responsibiliti¢s for the activities of the Trust is vested in and carried out by a Board of Trustees which meets at intervals throughoul the year. Trustees may be appointed by resolution of a meeting of the Board of Trustees. Recrultment, appointment, induction and tralnlng The Board of Trustees have been involved in the Trust for a number of years and so are familiar with its work, The trustees regularly review the requirements of the Trust and the possibility of need for additional trustees. The General Committee of Portadown Rugby Football Club has the power to appoint any new trustees. Appropriate training and induction is availabl¢ to all trustees.
Pag¢ 4 THE GOAL LINE YOUTH TRUST REPORT OF THE BOARD OF TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2024 (contlnmed) STRUCTURE, GOVERNANCE AND MANAGEMENT (continued) Finanelal rlsk management objectives and policies The trustees have overall responsibility for ensuring that the Trust has in place an appropriate system of controls, financial and otherwise, to provide assistance that; Thc Trust is operating eff¢ctively' Its assets arc safcguarded against unauthorised use or disposition. Proper records are maintained and financial infornlation useil within the Trust or for publication is reliable; The Trust complies with relevant laws and regulations, and The Trust's systems of financial control are designed to provide reasonable, but not absolute assurancc against material misstatement or loss. The trustees have assessed the major risks to which the Trust is exposed, in particular those related to the operations and finances of the Trust, and are satisfied that systems are in plac¢ to mitigate any exposure to major risks. Where appropriate, systems or procedures hav¢ been established to mitigatc the risks faced by the Trust. Internal control risks are minimiscd by the implementation of procedures for authorisation of all transactions and projects. Procedures are in plac¢ to ensure cornpliance with health and safety of officers, volunl¢¢rs and applicants. These procedures are periodically reviewed at Icast annually to ensure that they continue to meet the needs of the Trust. ACHIEVEMEIYTS AND PERFORMANCE For the year ended 31 March 2024, total income amounted to £135,478 (2023; £96,162) and total cxpenditure amounted to £127,996 (2023: £154,305). The net income for the year amounted to £7,482 (2023: £58,143 net expenditure), The trustees considcr that the Trust is in a satisfaGtory position to carry on its charitable activitics. FINAIYCIAL REVIEW D¢tails of incom¢ and expenditure for the year and of the year end financial position given on pages 9 and 10 respectively of the accounts attached to this report. The trustees consider the financial position of the Trust as satisfactory in order to carry on its charitabl¢ activities and hav¢ adopted a policy of endeavouring to balance income and expenditur¢.
Page 5 THE GOAL LINE YOUTH TRUST REPORT OF THE BOARD OF TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2024 (con¢inued) FINANCIAL REVIEW (continued) Reserves policy Th¢ trustees have considered the unexpired tenn of the charges held by the Department of Education in respect of the funding provided for the property. The funding provided has been accounted for as restri¢t¢d funds. A transfer of £57,675 has been made in the year from restricted funds to unrestricted funds to account for thc expired tenn on thc basis that any liability for repayment of the funding received reduces over the period for which the charges are held. Unrestricted funds increased in the year under review by £35,090 from a deficit of £2,042 to a suo)lus of £33,048. The restricted funds decreased in the year under review by £27,608 from £266,114 to £238,506. The policy of the Trust is to maintain reserves at such a level as to limit risk from fvture downturn in Trust income or from increased expenditure in the longer tenn. This should provide sufficicnt funds to cover running costs which include management, administration and support costs. Free reserves are those unrestricted reserves which are available for general use. Fundlng The principal fundin8 is from grants. PLANS FOR FUTURE PERIODS There have been no major changes in the year, nor are any envisaged in the foreseeable future. STATEMEIYT OF THE RESPOIYSIBILITIES OF THE BOARD OF TRUSTEES The Board of Trustees are responsible for preparing the Trustees Annual Report and the financial statements in accordance with applicable law and Unit¢d Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The law applicable to charities in Northern Ireland requires the trustees to prepare financial statements for each financial year which give a truc and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In prcparing these financial statements, the trustees are required to: select suitable accounting policies and then apply them consistently. observe the meihods and principles in the Charities SORP 2019 (FRS 102). make judgements and estimates that ale reasonable and prudent; stat¢ whcth¢r applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements. prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
Pag¢ 6 THE GOAL LINE YOUTH TRUST REPORT OF THE BOARD OF TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2024 (tontinued) STATEMENT OF THE RESPONSIBILITIES OF THE BOARD OF TRUSTEES (continued) Thc trustees are iesponsible for keeping proper accounting r¢cords that disclose with reasonable accuracy at any time the financial position of the charily and enable them to ensure that th¢ financial statcmcnts comply with the Charities Act (Northern Ireland) 2008, th¢ Charitics (Accounts and Reports) Regulations (Northern Ireland) 2015 and the provisions of the trust deed. The trustees ar¢ also responsiblc for safeguarding the assets of the charity and hence for taking r¢asonable steps for thc prevention and detection of fraud and other irrcgulariti¢s. The trustees are responsible for the maintenance and integrity of the charity and financial infomiation included on the charity's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions. Dlsclosure of Information to Independent examlner So far as each of the trustees in office at the date of approval of these financial statements is aware: there is no relevant infonnation for the independent examination of which the charity's independent examiner are unaware. and they hav¢ taken all steps that they ought to have tak¢n as trustees to make themselves aware of any relevant inforniation and to establish that the charity's independent examiner are aware of Ihat inforniation. IIYDEPENDENT EXAMINER GMCG Belfast will continue in office as independent examiner for the ensuing year. REGISTERED OFFICE BY ORDER OF THE BOARD OF TRUSTEES clo Thompson Mitchell Solicitors 12-14 Mandeville Street Portadown BT62 3NZ Approved by the trustees on .
CblARTERED ACCOU14TANTI Page 7 THE GOAL LINE YOUTH TRUST INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE GOAL LINE YOUTH TRUST YEAR ENDED 31 MARCH 2024 report on the accounts of the charity for the year ended 31 March 2024 as set out on pages 9 to 24. RESPECTIVE RESPONSIBILITIES OF TRUSTEES AND INDEPENDENT EXAMINER As the charity's trustees you are responsible for the preparalion of ihe accounts in accordance with the requirements of the Chariti Act (Northem Ireland) 2008. It is my responsibility to.. examine the accounts under section 65 of the Charities Act (Northern Ireland) 2008; follow the procedures laid down in the general Directions given by the Charity Commission for Northern Ir¢land under $tion 65(9)(b) of the Charities Acl: and state whether particular matters have come to my attention. BASIS OF INDEPENDENT EXAMINER'S STATEMENT I have examined your charity accounts as required under section 65 of the Charities Act and my examination was carried out in accordance wilh the general Directions given by the charity Commission for Northern Ir¢land under section 65(9)(b) of the Charities Act. The examination included a review of the accounting records kept by the charity and a Comparison of th¢ accounts presented with those records. li also includes consideralion of any unusual items or disclosures in the accounts, and seeking explanations from you as charity Irustees concerning any such matters. My role is to state whether any material matters have come to my attention giving me cause to believe: l. That a¢¢ounting records were not kept in accordance with seclion 63 of the Charites Art. 2. That the accounts do not accord with ihose accounting records. 3. That the accounts do not comply with the accounting rquirements of the Charities Act 4. That th¢r¢ is further inforniation needed for a proper understanding of the accounts to be reached. Alfred House 19 Alfr Street BEUIAsf BT2 8EQ DX 3910 NR BEEF*r50 Century HOL 40 Cre8c8Dt BusiDeM Park USBURN 1Th28 2GN 17 Mandeville St PORTADOWN Craigavon BT62 JPB Tel: +44(oh8 90311113 Fax: +44(0)28 9031 oTn Tel: +44(0)28 920oT355 FaL" +44(0>8 92 1656 Tel: +44(0)a83833 2801 Fax: +44(0128383S 0293 CMLCL% l¢rD¥Dne0fCM¢CCrvyp IknM¥l. Rry NON1( 1151 DtDlrtttOT9mihbknatrety office A mErnhErolTIAC@.AWorIdwi&AliaDt¢ofludEpaMleDlhxwllbF7T5
Page 8 THE GOAL LINE YOUTH TRUST INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE GOAL LINE YOUTH TRUST (continued) YEAR ENDED 31 MARCH 2024 INDEPENDENT EXAMINER'S STATEMENT I have completed my examination and have no concerns in respect of matters { l) to (4) lisied al)ove and, in connection with following the DIrtiOnS of the Charity Commission for Northern Ireland, I have found no matters that require drawing to your attention. B J Frfiar FCA (Indepen t examiner) Chartered Accountants Ireland For and on behalf of GMCG Belfast Chartered Accountants & Statutory Auditor Alfred House 19 Alfred Street Belfast BT2 8EQ Dale:.......,
Page 9 THE GOAL LINE YOUTH TRUST STATEMENT OF FINANCIAL AlvITIFs FOR THE YEAR ENDED 31ST MARCH 2024 Tol*l Funds Year 2024 Total Funds Unrestricted Restricted Fundi Funds 2023 Note INCOME FROM: Donations and legacieg Charitable activities oiher trIn8 activilies Investments &162 &162 108.604 18,446 266 3,933 83,926 7.972 331 108,604 18846 266 TOTAL INCOME 2W4 108,604 13S478 96,162 EXPENDITURE ON: Charitable I1VIlle$ Other cosls 78037 7W7 49.459 104,349 49,956 49,459 TOTAL EXPENDrruRE 49,459 78037 127,996 154,303 NET INCOMEJ(EXPENDITURE) (22A85) 30,067 (58,143) TRANSFERS BETWEEN FUNDS 57,675 (57,675) NET MOVEMENT IN FUNDS 35.090 (27.608) 7,482 (58,143) RECONCILIATION OF FUNDS: Tolal fvThds brought forward (2.IM2) 26&114 264072 322,215 Total fuod• earrled forwArd 33,048 23&506 271 J54 264,072 The Trust no TgnISed gains or loss¢s in the year oiher than those Includ in th¢ net movement of fvnds. All of the operations of the Trust are classed as continuin& The AoleBon piges 12 to 24 forni pjrt of th8¢ fm•ncial 8l•temen
Page 10 THE GOAL LINE YOUTH TRUST BALANCE SHEET AS AT 31sr MARCH 2024 2024 2023 Note FIXED ASSETS Tan8ible assets 13 190,919 184,549 CURRENT ASSETS Debtors Cash at bank and in hand 14 15 3A76 86.744 3.141 111.173 90,220 114J14 CREDITORS: AMOUNTS FALLIPIG DUE WITHIN ONE YEAR 16 (9A85) (34,791) NET CURRENT ASSETS 79,523 NET ASSETS 271,554 264,072 CHARrfY FUNDS Restr1¢¢ funds 17 23&506 266,114 Unrejlrkted fuDd• 18 31048 (2,042) 271J54 264.072 These financial staleineThts w¢r¢ approved by th¢ Bo8rd of Tnlee$ on .... on iheir behalf by: 2LX)-' . nd are slgThcd f1trhpJ ¢ Th¢ notej pa8es 12 to 24 fonn pxt of ruw111 Ithkments.
Pagell THE GOAL LINE YOUTH TRUST STATEMEIYT OF CASHFLOWS FOR THE YEAR ENDED 31ST MARCH 2024 2024 2023 Note Cash floTrv from operating aetivities 20 3,407 (27,571) Net cash flow from operatlng actlvltles 3,407 (27,571) Cash flow from Investing actlvltles Divid¢nds and interest from invcstm¢nts Payments to acquire fixed assets 266 {28,102) 331 Net Cash flow from investing activities (27,836) 331 Net cash flow from financing activities Net de¢rease in eash and cash equivalent$ (24,429) (27,240) Cash And cash equlvalents at lit Aprll 2023 111,173 138,413 Cash and cash equivalents at 31>1 March 2024 86,744 111,173 Cash and cash equivalents consist of: Cash at bank and in hand 86,744 111,173 Cash and cash equivalents at 31st March 2024 86,744 111,173
Page 12 THE GOAL LINE YOUTH TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR EI¥4DED 31ST MARCH 2024 I. ACCOUNTING POLICIES (s) General Information and basls of preparatlon The address of the registered office is given in the charity inforn]ation on page l of these financial statements. The charity is cstablished under a trust deed. The charity constitutes a public benefit entity as defined by FRS 102. Statement of com liance The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charitics preparing their accounts in accordance with the Financial Rcporting Standard applicable in the UK and Republic of Ireland issu¢d in October 2019, the Financial Reporting Standard applicable in th¢ UK and Republic of Ireland (FRS 102), Charities Act (Northern Ireland) 2008, the Chariti¢s (Accounts and Reports) Regulations (Northern Ireland) 2015 Ircland, the Trust's governing document and UK Generally Accq)ted Accounting Practice. The significant accounting polici applied in the prq)aration of these financial statements are set out below. Thcse policies have been consistently applied to all years presented unless otherwise stated. Thes¢ financial statements have been prepared on the going concern basis under the historical cost conv¢ntion, as modifi¢d by the revaluation of investments. The financial statements are pr¢pared in sterling, which is the functional currency of the entity and rounded to the nearest £ l. (b) Funds Unresiriciedfunds.. General funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity which have not been designated for other purpose. Reslriciedfunds.. Th¢se are funds that can only be used for particular restricted purpos within the objects of the charity. Restrictions arise when specificd by the donor or when the funds are raised for particular r¢stricted purposes.
Page 13 THE GOAL LINE YOUTH TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024 (continued) ACCOUNTING POLICIES (continued) (e) Income reeognltlon All incoming resources have been included in the financial statements using th¢ accruals basis except for donations, l¢gacies and bequests which are included in the financial statements using the receipts basis. Income from government and other grants ar¢ recognised at fair valuc when the charity has entitlement after any performance conditions have been met, it is probable that the income will bc rcc¢ived and the amount can be measured reliably. Capital grants towards tangible fixed assets are credited to restricted funds. An amount is transfcrrcd each financial year to general funds at the same rate as the ielcvant tangible fixed asset is depreciated. Income from trading activities includes income earned from fundraising events and trading activities to raise fijnds for the charity. Income is received in exchange for supplying goods and services in order to raise funds and is recognised when entitlement has occurred. Investment income is earned through holding assets for investment puo)oses such as cash at bank and short tenn deposits. It includes interest. Investment income is recognised as the charity's right to r¢cciv¢ payment is established. Other income includes income from other sources and 8ains on disposal of fixed assets. (d) Expenditure recognltlon All expenditure is accounted for on accruals basis , inclusive of VAT which cannot be recovered and has been classified under headings that aggregate all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the scttlement will be required and the amount of the obligation can be measured reliably. It is categorised under the followin8 hdIngS. Expenditure on charitable activities includes those costs incUed by the charity in the delivery of its activities and servic¢s for its beneficiari¢s. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them. and Other expenditure represents those items not falling into the Categories above.
Page 14 THE GOAL LINE YOUTH TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024 (continued) ACCOUNTING POLICIES (continued) (d) Expenditure recognition (continued) Where costs cannot be directly attributed to a particular heading they have been allocated to activities on a time basis relative to and on a basis consistent with the use of the resources. Governance costs include those costs associated with Meeting the constitutional and statutory requirements of the charity and include the audit fees, profcssional advice for trustees, cost of trustee meetings and costs linked to the strategic management of the charity. All costs are allocated between the expenditure categories of the SOFA on a basis designed to reflect th¢ use of the resource. Costs relating to a particular activity arc allocated dircctlyy Others are apportioned on an appropriate basis e.g. staff timc and floor space. (e) Fixed assets Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impainn¢nl losses. Cost includes costs directly attributable to making the asset capable of operating as intended. Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected use1 life as follows: Buildings Leasehold improvements Fixtures and fittings ovcr th¢ lif¢ of the lease - 60 years straight line 10 % straight line I 00/0 Straight line (fj Debtors and creditors recelvable I payable within one year Debtors and creditors with no stated intercst rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impainnent are recognised in expenditure. (gl Impairment Assets not m¢asured at fair value are reviewed for any indication that Ihe asset may be irnpaired at each balance sheet date. If such indication ¢xists, the recoverable amount of the asset, or th¢ asset's cash generating unit, is estimated and compared to the Carrying amount. whe the anying amount exceeds its recov¢rable amount, an impainnent loss is reCOlSed in the statement of financial activities unless the asset is carried at a revalued amount where th¢ impairni¢nt loss is a revaluation decrease.
Page 15 THE GOAL LINE YOUTH TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024 (eonlinued) ACCOUNTING POLICIES (continued) (h) Taxation No provision is required for taxation as the Trust is defined as a charity for taxation purposes. (i) Golng concern The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of r¢sources for th¢ charity to b¢ able to continu¢ as a going concern. (J) Judgements and ¢$tlmates The following judgements includin8 those involving estimates have been made in the process of applying the above accounting policies that have had the most significant effect on the amounts recognised in the financial statements and that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year: (i) depreciation method and asset usefvl lives The estimates and assumptions are reviewed on an ongoing basis considering the current and future market conditions. INCOME FROM DONATIONS Total Funds UNestricted Restricted 2024 funds funds Total Funds 2023 Unrestrlcted Restrlcted funds funds Donations 8,162 8,162 3,933 3,933 8,162 8,162 3,933 3,933
Page 16 THE GOAL LINE YOUTH TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024 (continued) INCOME FROM CHARITABLE ACTIVITIES Total Funds Unrestricted R¢stri¢t¢d 2024 funds funds Total Funds 2023 Unre$trlcted Restricted funds funds Grants. revenue Other 102,015 6A89 102,015 6,589 73,643 10,283 73,643 10,283 108.604 108,604 83,926 83,926 Analysis of restricted Income from charitable actlvlties: 2024 2023 Grants -revenue: The BBC Children in Need Southern Health & Social Care Trust Arniagh City, Banbrid8e and Crai8avon Council Public Health Agency Education Authority National Lottery Community Fund 20,044 16,573 17,414 20,531 2,925 5,937 48,536 8,000 4,000 5,582 26,116 102,015 73,643 Other Junior Summ¢r Scheme Relaxed Christmas BNL 6,464 125 7,235 3,048 10,283 83,926 6.589 108,604
Page 17 THE GOAL LINE YOUTH TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024 (coniinued) INCOME FROM OTHER TRADING ACTIVITIES Total Funds Unrestricted Restricted 2024 funds funds Total Funds 2023 Unrestricted Restricted funds funds Rent/hire Fundraising Trading Subscriptions 1.766 9,886 1,874 4,920 1,766 9,886 1,874 4,920 50 502 1,768 5,652 50 502 1,768 5,652 18,446 18,446 7.972 7,972 INCOME FROM INVESTMENTS Total Funds Unrestricted Restricted 2024 nds nds Total Funds 2023 Unrestricted Restrlcted funds funds Interest on short terni deposits 266 266 331 331 266 266 331 331
Page18 THE GOAL LINE YOUTH TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024 (continued) 6. ANALYSIS OF EXPENDITURE ON CHARITABLE ACTIVITIES Activities undertaken direetly Grant funding of actlvltles Support costs Total 2024 Advanc¢ the education and to promote the health of young people in and around thc Portadown and Craigavon areas 78,537 78,537 78,537 78,537 £Nil of the above costs were attributable to unrestricted funds, £78,537 of the above costs were attributable to restricted funds. Activities undertaken directly Grant funding of activities Support costs Total 2023 Advance the education and to promote the health of young people in and around the Portadown and Craigavon areas 104,349 104.349 104,349 104,349 £Nil of the above costs were attributable to unrestricted funds. £104,349 of the above costs were attributable to restricted funds. 7. GOVERNANCE COSTS Total Funds Unrestrictcd Restricted 2024 funds funds Total Funds 2023 Unrestrlcted Restricted funds funds Trustee remuneration Trustee ¢xp¢nses Accountancy Independent examiner's fee
Page 19 THE GOAL LINE YOUTH TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024 (conlinued) 8. INDEPENDENT EK4MINER'S REMUNERATION The independent examiner's remuneration amounts to independent examiner's fee of £Nil (2023: £Nil) and other services of £Nil (2023.. £Nil). 9. NET EXPENDITURE FOR THE YEAR This is stated after charging: 2024 2023 Depreciation of tangible fixed assets Independent examiner's remuneration 21,732 18.922 10. TRUSTEES AND KEY MANAGEMENT PERSONNEL REMUNERATION AND EXPENSES The trustees neither received nor waived any remuneration during the year and none are accruing pension benefits. The trustees did not have any expenses reimbursed during the year (2023: £Nil). The key management personnel are considered to be the trustees and total amount of employee benefits rec¢iv¢d by key managcmcnt pcrsonncl is £Nil (2023: £Nil). 11. STAFF COSTS AND EMPLOYEE BENEFITS Total staff costs were as follows: 2024 2023 Wages and salaries Social security costs Pension costs 69,557 77,594 559 619 70,116 78,213 Allocated to: 2024 2023 Advance the education and to promote the health of young people in and around the Portadown and Craigavon areas 70,116 70,116 78,213 78,213
Pag¢ 20 THE GOAL LINE YOUTH TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024 (continued) I I. STAFF COSTS AND EMPLOYEE BENEFITS (continued) ParticulArs of employees: The average number of employees during the year, calculated on the basis of full-time equivalents, was as follows: 2024 2023 No Number of administrative staff Number of youth worker staff No employee received total employee benefits of more than £60,000 during the year (2023: Nil). 12. TAXATION The charity is not re8lStered for V AT and accordingly, all their expenditure is inclusive of VAT incurred. 13. TANGIBLE FIXED ASSETS Fixtures and fittlngs Leasehold bulldlngs Leasehold Improvements Total Cost At l April 2023 Additions 250,000 189,222 28,102 14,215 453,437 28,102 At 31 March 2024 250,000 217,324 14,215 481539 Depreelation At l April 2023 Charge for the year At 31 March 2024 123,266 4,167 142,310 16,143 3,312 1,422 268,888 21,732 127,433 158,453 4,734 290,620 Net book value At 31 March 21124 122,567 58,871 9,481 190,919 At 31 March 2023 126,734 46,912 10,903 184,549
Page 21 THE GOAL LINE YOUTH TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024 (continued) 14. DEBTORS 2024 2023 Trnde debtors 3,476 3,476 3,141 3,141 15. CASH AND CASH EQUIVALENTS 2024 2023 Cash at bank and in hand 86,744 111,173 111,173 86,744 16. CREDITORS: amounts falling due withln one year 2024 2023 Trade creditors Other creditors PAYEn+JlC Deferred grants 766 96 209 8,514 9,585 3,833 144 658 30,156 34,791
Page 22 THE GOAL LINE YOUTH TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024 (continued) 17. RESTR[ED FUNDS Balance at l Aprll 2023 Balance at Transfers 31 Mar 2024 Ineome Expendlture Restricted Fund - Rev¢nue 266,114 266,114 108.604 (78,537) (78,537) (57,675) (57,675) 238,506 238,056 108,604 Balance at l April 2022 Balance at Transfers 31 Mar 2023 Income Expenditur¢ Restricted Fund - Revenue 287,705 83,926 83,926 (104,349) (104,349) (1,168) (1,168) 266,114 266,114 287,705 Restrictedfunds,. These arc funds that can only be used for particular r¢stricted purposes within the objects of the charity. Restrictions arise when specificd by the donor or when the funds are raised for particular restricted purposes. 18. UNRESTRICTED FUNDS Balance at l April 2023 Balance at TraD$fer$ 31 Mar 2024 Income Expenditure Unrestricted Fund General (2,042) (2.042) 26,874 26,874 (49,459) (49,459) 57,675 57,675 33,048 33,048 Balance at l April 2022 Balance at Transfers 31 Mar 2023 Income Expenditure Unr¢stricted Fund - General 34,510 34,510 l2,236 12,236 (49,956) (49,956) 1,168 1,168 (2,042) (2,042) Unres¢ricledfunds." General funds are available for use at the discretion of the trustees in furtheranc¢ of the general objectives of the charity which have not been designat¢d for othcr purpos¢.
Page 23 THE GOAL LINE YOUTH TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024 (continued) 19. ANALYSIS OF NET ASSETS BETWEEN FUNDS Net Current Assets Flxed Assets Total 2024 Restricted funds 190,027 48,479 238506 Unrestricted funds 892 32,156 33,048 190,919 80,635 271,554 Net Current Assets Fixed Assets Total 2023 Restricted funds 183,471 82,643 266,114 Unrestricted funds 1,078 (3,120) (2,042) 184,549 79,523 264,072
Page 24 THE GOAL LINE YOUTH TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024 (toniinued) 20. RECONCILIATION OF NET EXPENDITURE TO NET CASH FLOW FROM OPERATING ACTIVITIES 2024 2023 Net incomel(exp¢nditure) for year 7,482 (58,143) Depreciation Interest from investments (Increase) / Decrease in debtors (D¢cr¢asc)Ilncrease in creditors 21,732 (266) (335) (25,206) 18,922 (331) (1,699) 13,680 Nct cash flow from operating activities 3,407 (27,571) 21. SECURITY th There are Deeds of Covenant and Charges dated 12 April 2011 and 23 January 2017 between Goal Line Trust Limited - The and the Department of Education in respect of the property which will only apply if the property is sold or not used for the purposes intended by the charity. 22. CONTINGENCIES The charity has a contingent liability to repay grants received if the charity fails to comply with certain conditions stipulated in th¢ l¢tter of offer and tenns and conditions of contract under which the grants were paid. The trustees do not expect any claims to be made in this respect. 23. RELATED PARTY TRAIYSACTIONS There were no related party transactions during the year {2023 - £Nil).