**Charity Number: 108797** 

## **Saint Malachy‘s Youth Centre** 

**Annual Report and Financial Statements** 

**for the financial year ended 31 March 2024** 

**DNTCA Limited Chartered Accountants and Statutory Auditor Ormeau House 91-97 Ormeau Road Belfast BT7 1SH** 



## **Saint Malachy‘s Youth Centre CONTENTS** 

||**Page**|
|---|---|
|Trustees' and Other Information|3|
|Trustees' Report|4 - 5|
|Statement of Trustees' Responsibilities|6|
|Independent Examiner's Report|7|
|Statement of Financial Activities|8|
|Balance Sheet|9|
|Notes to the Financial Statements|10 - 14|
|Supplementary Information relating to the Financial Statements|16|



**2** 



**Saint Malachy‘s Youth Centre TRUSTEES' AND OTHER INFORMATION** 

## **Trustees** 

## **Chairperson** 

## **Company Secretary** 

## **Charity Number in Northern Ireland** 

**Principal Address** 

## **Independent Examiner** 

## **Principal Bankers** 

Lisa McCreery (Resigned 30 April 2023) Catherine Maguire (Appointed 1 May 2023) Shirley Ferguson Ana Peter Fr Thomas McGlynn 

John McLaughlin 

Kathleen Sturgeon 

108797 

20 Lower Stanfield Street Belfast Antrim BT7 2HB United Kingdom 

DNTCA Limited Chartered Accountants and Statutory Auditor Ormeau House 91-97 Ormeau Road Belfast BT7 1SH 

AIB Bank University Road Belfast Antrim BT7 1ND United Kingdom 

**3** 



## **Saint Malachy‘s Youth Centre TRUSTEES' REPORT** 

for the financial year ended 31 March 2024 

The trustees present their Trustees' Report and the unaudited financial statements for the financial year ended 31 March 2024. 

The financial statements are prepared in accordance with the Charities Act (Northern Ireland) 2008, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). 

The Trustees' Report contains the information required to be provided in the Trustees' Annual Report under the Statement of Recommended Practice (SORP) guidelines. The trustees of the charity are also charity trustees for the purpose of charity law and under the charity‘s constitution are known as members of the board of trustees. 

In this report the trustees of Saint Malachy‘s Youth Centre present a summary of its purpose, governance, activities, achievements and finances for the financial year 31 March 2024. 

## **Mission, Objectives and Strategy** 

## **Mission Statement** 

The group is established for the advancement and personal, social, educational, emotional, spiritual, physical and mental development of all children and young people, without distinction of gender, sexual orientation, ethnicity, political or religious opinion, particularly within the below detailed area of benefit and generally within the geographical area of the Diocese of Down and Connor, with the object of enriching their lives in a safe and appropriate environment; 

To encourage young people to take active and responsible participation in the life of the faith community and society, including but not exclusively through affiliation with and participation in the programme of the Down and Connor Youth Commission. 

## **Strategy** 

In Pursuing it‘s objectives, the group will have regard to its Basis and Values, those being; 

## Basis 

i. The Group derives its inspiration and values from the Christian faith and the Roman Catholic religion ii. These values, enriched and shared by many people of other faiths or none, provide the basis of our work with children and young people, their families and communities 

## Values 

i. Respecting the unique worth of every person 

ii. Encouraging people to fulfil their potential iii. Working with hope, integrity, hospitality, inclusiveness, justice and forgiveness iv. Exercising responsible stewardship. 

## **Structure, Governance and Management** 

## **Structure** 

The centre is governed by its constitution. The trustees have taken regard to guidance issued by the Charity Commission for Northern Ireland on the public benefit in carrying out their statutory duties. 

## **Who uses and benefits from our services** 

Membership of our Centre shall be open to all children and young people between the ages of four and twenty four years, without distinction of gender, sexual orientation, ethnicity, political or religious opinion, living within the area of benefit, having been accepted by the management committee and who subscribe to the objects, basis and values of the group, who agree to abide by its constitution and rules of the group and who pay such fees as determined by the management committee. 

## **Recruitment and Appointment of Trustees** 

The trustees of the charity retire at the Annual General Meeting and are eligible for appointment for the incoming year to hold office until the next Annual General Meeting. 

**4** 



Saint Malachy's Youth Centre
TRUSTEES. REPORT
fgr the financial year ended 31 March 2024
Flnancial Revlew
The results for the financial year are set out on page and additional notes are provided showing income and
expenditure in greater detail. The charity continues lo adopt the accounting framework applicable in the UK under
'Accounling and Reporting by Charitl8s.' Statement of Recommended Praclice applicable lo charities preparing their
accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS1021'
Results and Dividends
Al the ènd of thè financlal year the cha￿tY has assets 01 £70,93512023 - £75.163} and li8b41111es of £12,62212023 .
£10.5181. The nol assels of lh8 charily have decreased by £16,332).
Reserv9s Position and Pollcy
Aside from retaining a prudent amount of reseNes each period. most of the charity's funds are to be spent in the short
lemi, leaving few funds for long term investment.
Prlncipal Risks and Uncèrtalntles
The Iruslees conduct, on a regular basis. a review of the major risks lo which the charity is exposed. Thls review is
updated al least annually. Where appropriate, systems or procedures have been established to mitigate the risks the
charity faces.
Significant external risks lo funding have led lo the development of a Tolling strategic plan lo allow for allemalive
fundlng methods for the charity's aclivilies. Internal control risks are minimized by the implemenlalion of
¢ompr&hensive procedures for aulhorizalion of all transactions and project.
Procedures are in pla¢8 to ensure Compliance with health and safely rules for staff. volunteers and visitors. All
procedures are periodically reviewed to ensur8 that they ¢onlinue lo meet the needs of the charity.
In accordancè with the Conslitutlon, the Iruslees retire by rolalion 8nd, being eliglble, offer themselves for re-elecllon.
Compliance with Se¢tor-Wide Leglslation and Standards
The charity engages pro.actively with legislation, standards and codes whlch ar8 developed for the sector. Saint
Malachy's Youth Centre subscribes lo and is Compliant with the following..
The Charities SORP IFRS 1021
Approved by the Board of Trustoos on signed on its behalf by:
hn M¢L8ug
halrpgr8on

Saint Malachy's Youth Centre
STATEMENT OF TRUSTEES. RESPONSIBILITIES
for the financial year ended 31 March 2024
The trustees are responsible for preparing th8 financial statements in accordance with applicable law and regulations.
The law applicable lo charities in Northern Ireland requires the Iruslees lo prepare financial slalem8nls for each
rinancial year which give a true and fair view of the assets. liabilities and finan¢ial position of the charity as al Ihe
financial year end dale and of the surplvs or deficit of the charily and otherwise comply with the Charities Act
(Northern Ireland) 2008.
In preparing th8se financial slalements, the Irust8es are required lo..
select suitable ao¢ounling policies and apply them consislenlly-
obsetve the methods and principles in Ihe Charilies SORP
make judgements and accounting estimates that are reasonable and prudent.,
slate whether the financial slatemerils have been prepared in accordance wllh applicable accounting standards.
identify those standards. and note the effect and Ihe reasons lor any material departure from those standards., and
prepare the financial slalemenls on the going concern basis unless il is inappropriate to presum8 that the charity
will continue in operation.
The Iruslees confirm that Ihgy have complied with the above requirements in pr6paring the financial slalemenls.
The Iruslees are responsible for keeping adequate accounting records th81 are sufficient lo show and explain the
Charity's transactions and disclose with reasonabl8 accuracy al any lime the financial position of the chadly and
enable them lo ensure that the financial slalemenls comply with the Charities Act (Northern Irelandl 2008. They are
also responsible for safeguarding the 88S81s of tha charity and hence for taking reasonable steps lor the prevention
and detection of fraud and other Srregularllies.
Approved by the Board of Trusto•8 on
and signed on It$ bohalf by:
hn M¢Lau
Chalrperson
in

## **Saint Malachy‘s Youth Centre INDEPENDENT EXAMINER'S REPORT TO THE BOARD OF TRUSTEES OF SAINT MALACHY‘S YOUTH CENTRE** 

I have examined the financial statements of the charity for the financial year ended 31 March 2024, which comprise the Statement of Financial Activities, the Balance Sheet and the related notes. 

This report is made solely to the charity's members, as a body, in accordance with the Charities Act (Northern Ireland) 2008. My work has been undertaken so that I might compile the financial statements that I have been engaged to compile, report to the Board of Trustees that I have done so, and state those matters that I have agreed to state to them in this report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the charity's members, as a body, for my work, or for this report. 

## **Respective responsibilities of trustees and examiner** 

The charity's trustees are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act (Northern Ireland) 2008. The charity's trustees consider that an audit is not required for this financial year under the Charities Act (Northern Ireland) 2008 and that an independent examination is required. 

It is my responsibility to: 

- examine the financial statements under section 65 of the Charities Act; 

- follow the procedures laid down by the general Directions given by the Charity Commission for Northern Ireland under section 65(9)(b) of the Charities Act; and 

- state whether particular matters have come to my attention. 

## **Basis of independent examiner's report** 

I have examined your charity financial statements as required under section 65 of the Charities Act and my examination was carried out in accordance with the general Directions given by the Charity Commission for Northern Ireland under section 65(9)(b) of the Charities Act. An examination includes a review of the accounting records kept by the charity and a comparison of the financial statements presented with those records. It also includes consideration of any unusual items or disclosures in the financial statements and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a ‘true and fair’ view and the report is limited to those matters set out in the statement below. 

In connection with my examination, no matter has come to my attention which gives me cause to believe that in, any material respect: 

- accounting records were not kept in accordance with section 63 of the Charities Act 

- the financial statements do not accord with those accounting records 

- the financial statements have not been prepared in accordance with the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) 

- there is further information needed for a proper understanding of the accounts to be reached. 

## **Independent examiner's statement** 

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached. 


**__________________________________Mr M Nangle DNTCA LIMITED** Chartered Accountants and Statutory Auditor Ormeau House 91-97 Ormeau Road Belfast BT7 1SH 

**Date: ...6th February 2025..................** 

**7** 



## **Saint Malachy‘s Youth Centre STATEMENT OF FINANCIAL ACTIVITIES** 

for the financial year ended 31 March 2024 

|||**Unrestricted**|**Restricted**|**Total**|Unrestricted|Restricted|Total|
|---|---|---|---|---|---|---|---|
|||**Funds**|**Funds**|**Funds**|Funds|Funds|Funds|
|||**2024**|**2024**|**2024**|2023|2023|2023|
||**Notes**|**£**|**£**|**£**|£|£|£|
|**Income**||||||||
|Donations and legacies|**5.1**|**6,211**|**-**|**6,211**|-|-|-|
|Charitable activities||||||||
|■ Grants from governments|**5.2**|**65**|**128,699**|**128,764**|4,552|148,872|153,424|
|and other co-funders||||||||
|Other income|**5.3**|**20,959**|**-**|**20,959**|16,059|-|16,059|
|||───────|───────|───────|───────|───────|───────|
|**Total income**||**27,235**|**128,699**|**155,934**|20,611|148,872|169,483|
|||───────|───────|───────|───────|───────|───────|
|**Expenditure**||||||||
|Charitable activities|**6.1**|**10,116**|**152,150**|**162,266**|840|150,660|151,500|
|||───────|───────|───────|───────|───────|───────|
|**Net income/(expenditure)**||**17,119**|**(23,451)**|**(6,332)**|19,771|(1,788)|17,983|
|Transfers between funds||**(21,863)**|**21,863**|**-**|-|-|-|
|||───────|───────|───────|───────|───────|───────|
|**Net movement in funds for**||**(4,744)**|**(1,588)**|**(6,332)**|19,771|(1,788)|17,983|
|**the financial year**||||||||
|**Reconciliation of funds:**||||||||
|Total funds beginning of the|**14**|**63,057**|**1,588**|**64,645**|43,286|3,376|46,662|
|year||||||||
|||───────|───────|───────|───────|───────|───────|
|**Total funds at the end of**||**58,313**|**-**|**58,313**|63,057|1,588|64,645|
|**the year**||||||||
|||═══════|═══════|═══════|═══════|═══════|═══════|



The Statement of Financial Activities includes all gains and losses recognised in the financial year. All income and expenditure relate to continuing activities. 

The notes on pages 10 to 14 form part of the financial statements 

**8** 



Saint Malachy's Youth Centre
BALANCE SHEET
as at 31 March 2024
2024
2023
Notè•
Fixed Assets
Intangible assets
Tangible assets
10
11
7,680
11.654
8,640
15,802
19.334
24,442
Current Assets
Cash al bank and In hand
51.601
50,721
Creditors: Amounts falllng due within one year
12
{12,6221
110.5181
Not Curront A$$ots
38,979
40,203
Total Assets less Current Llabilitles
58,313
64,645
Funds
Reslricled funds
General fund lunreslrict8d)
1,588
63,057
58,313
Total funds
14
58.313
84.645
The financial slal8monls have b88n prepar&d in accordance with the provisions appllGabl8 lo companies subject lo
thé small compani8s' regime and In accordance wllh FRS 102 "Thé Financlal Reporting Standard applicable in the UK
and RepublSc ol Ireland" applying Seclion 1A of Ihal Standard.
Approved by tho Board of Trustees and authorlsed for Issue on
bahalf by
and signed on Its
hn McLaug
hairperson
The notes on pages 10 10 14 form part of the financial statements

**Saint Malachy‘s Youth Centre NOTES TO THE FINANCIAL STATEMENTS** for the financial year ended 31 March 2024 

## **1. GENERAL INFORMATION** 

Saint Malachy's Youth Centre is a charity which registered with The Charity Commission of Northern Ireland on 17 May 2022. The registered office of the charity is 20 Lower Stanfield Street, Belfast, Antrim, BT7 2HB, United Kingdom which is also the principal place of business of the charity. The financial statements have been presented in Pound (£) which is also the functional currency of the charity. 

## **2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES** 

The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the charity’s financial statements. 

## **Basis of preparation** 

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (as amended for accounting periods commencing on or after 1 January 2016). The Charity is a Public Benefit Entity as defined by FRS 102. 

St Malachy‘s Youth Centre meets the definition of a public benefit entity under FRS102. Assets and liabilities are initially recognised at historical cost or value unless otherwise stated in the relevant accounting policy notes. 

## **Statement of compliance** 

The financial statements of the charity for the financial year ended 31 March 2024 have been prepared on the going concern basis and in accordance with the Statement of Recommended Practice (SORP) "Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland FRS 102", applying Section 1A of that Standard. 

## **Fund accounting** 

The following are the categories of funds maintained: 

## **Restricted funds** 

Restricted funds represent income received which can only be used for particular purposes, as specified by the donors. Such purposes are within the overall objectives of the charity. 

## **Unrestricted funds** 

Unrestricted funds consist of General and Designated funds. 

■ General funds represent amounts which are expendable at the discretion of the board, in furtherance of the objectives of the charity. 

■ Designated funds comprise unrestricted funds that the board has, at its discretion, set aside for particular purposes. These designations have an administrative purpose only, and do not legally restrict the board's discretion to apply the fund. 

## **Income** 

Income is recognised by inclusion in the Statement of Financial Activities only when the charity is legally entitled to the income, performance conditions attached to the item(s) of income have been met, the amounts involved can be measured with sufficient reliability and it is probable that the income will be received by the charity. 

## **Income from charitable activities** 

Income from charitable activities include income earned from the supply of services under contractual arrangements and from performance related grants which have conditions that specify the provision of particular services to be provided by the charity. Income from government and other co-funders is recognised when the charity is legally entitled to the income because it is fulfilling the conditions contained in the related funding agreements. Where a grant is received in advance, its recognition is deferred and included in creditors. Where entitlement occurs before income is received, it is accrued in debtors. 

Grants from governments and other co-funders typically include one of the following types of conditions: 

■ Performance based conditions: whereby the charity is contractually entitled to funding only to the extent that the core objectives of the grant agreement are achieved. Where the charity is meeting the core objectives of a grant agreement, it recognises the related expenditure, to the extent that it is reimbursable by the donor, as income. 

**10** 



continued 

## **Saint Malachy‘s Youth Centre NOTES TO THE FINANCIAL STATEMENTS** 

for the financial year ended 31 March 2024 

■Time based conditions: whereby the charity is contractually entitled to funding on the condition that it is utilised in a particular period. In these cases the charity recognises the income to the extent it is utilised within the period specified in the agreement. 

In the absence of such conditions, assuming that receipt is probable and the amount can be reliably measured, grant income is recognised once the charity is notified of entitlement. 

Grants received towards capital expenditure are credited to the Statement of Financial Activities when received or receivable, whichever is earlier. 

## **Expenditure** 

Expenditure is analysed between costs of charitable activities and raising funds. The costs of each activity are separately accumulated and disclosed, and analysed according to their major components. Expenditure is recognised when a legal or constructive obligation exists as a result of a past event, a transfer of economic benefits is required in settlement and the amount of the obligation can be reliably measured. Support costs are those functions that assist the work of the charity but cannot be attributed to one activity. Such costs are allocated to activities in proportion to staff time spent or other suitable measure for each activity. 

## **Intangible Fixed Assets and Amortisation** 

Intangible fixed assets are stated at cost or at valuation, less accumulated depreciation. The charge to depreciation is calculated to write off the original cost or valuation of intangible fixed assets, less their estimated residual value, over their expected useful lives as follows: 

Development Costs 

- 10% Straight Line 

## **Tangible fixed assets and depreciation** 

Tangible fixed assets are stated at cost or at valuation, less accumulated depreciation. The charge to depreciation is calculated to write off the original cost or valuation of tangible fixed assets, less their estimated residual value, over their expected useful lives as follows: 

Fixtures, fittings and equipment 

- 15% Straight line 

## **Cash at bank and in hand** 

Cash at bank and in hand comprises cash on deposit at banks requiring less than three months notice of withdrawal. 

## **Taxation and deferred taxation** 

No current or deferred taxation arises as the charity has been granted charitable exemption. Irrecoverable valued added tax is expensed as incurred. 

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more tax in the future, or a right to pay less tax in the future. Timing differences are temporary differences between the charity's taxable profits and its results as stated in the financial statements. 

Deferred tax is measured on an undiscounted basis at the tax rates that are anticipated to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantively enacted by the balance sheet date. 

## **Research and development** 

Development expenditure is written off in the same financial year unless the trustees are satisfied as to the technical, commercial and financial viability of individual projects. In this situation, the expenditure is deferred and amortised over the period from which the charity is expected to benefit. 

## **3. SIGNIFICANT ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION 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 reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under circumstances. 

**11** 



continued 

## **Saint Malachy‘s Youth Centre NOTES TO THE FINANCIAL STATEMENTS** 

for the financial year ended 31 March 2024 

## **4. GOING CONCERN** 

The Trustees have not identified any material uncertainties related to events or conditions that may cast significant doubt about the charity‘s ability to continue as a going concern. 

|**5.**|**INCOME**||||||
|---|---|---|---|---|---|---|
|**5.1**|**DONATIONS AND LEGACIES**||**Unrestricted**|**Restricted**|**2024**|2023|
||||**Funds**|**Funds**|||
||||**£**|**£**|**£**|£|
||Donations and legacies||**6,211**|**-**|**6,211**|-|
||||═══════|═══════|═══════|═══════|
|**5.2**|**CHARITABLE ACTIVITIES**||**Unrestricted**|**Restricted**|**2024**|2023|
||||**Funds**|**Funds**|||
||||**£**|**£**|**£**|£|
||**Grants from governments and other**|**co-funders:**|||||
||Income from charitable activities||**-**|**10,000**|**10,000**|-|
||EA Belfast Region||**-**|**118,699**|**118,699**|143,672|
||Belfast City Council||**65**|**-**|**65**|2,428|
||Trips/Events||**-**|**-**|**-**|2,124|
||Queen's University Belfast||**-**|**-**|**-**|5,200|
||||───────|───────|───────|───────|
||||**65**|**128,699**|**128,764**|153,424|
||||═══════|═══════|═══════|═══════|
|**5.3**|**OTHER INCOME**||**Unrestricted**|**Restricted**|**2024**|2023|
||||**Funds**|**Funds**|||
||||**£**|**£**|**£**|£|
||Other income||**20,959**|**-**|**20,959**|16,059|
||||═══════|═══════|═══════|═══════|
|**6.**|**EXPENDITURE**||||||
|**6.1**|**CHARITABLE ACTIVITIES**|**Direct**|**Other**|**Support**|**2024**|2023|
|||**Costs**|**Costs**|**Costs**|||
|||**£**|**£**|**£**|**£**|£|
||Expenditure on charitable activites|**156,318**|**-**|**-**|**156,318**|145,552|
||Governance Costs (Note 6.2)|**-**|**5,948**|**-**|**5,948**|5,948|
|||───────|───────|───────|───────|───────|
|||**156,318**|**5,948**|**-**|**162,266**|151,500|
|||═══════|═══════|═══════|═══════|═══════|
|**6.2**|**GOVERNANCE COSTS**|**Direct**|**Other**|**Support**|**2024**|2023|
|||**Costs**|**Costs**|**Costs**|||
|||**£**|**£**|**£**|**£**|£|
||Charitable activities - governance|**-**|**5,948**|**-**|**5,948**|5,948|
||costs||||||
|||═══════|═══════|═══════|═══════|═══════|
|**7.**|**NET INCOME**||||**2024**|2023|
||||||**£**|£|
||**Net Income is stated after charging/(crediting):**||||||
||Depreciation of intangible assets||||**960**|960|
||Depreciation of tangible assets||||**4,148**|4,148|
||Research and development||||||
||- amortised deferred expenditure (included above)||||**960**|960|
||Independent Examiner's remuneration:||||||
||- independent examination services||||**840**|840|
||||||═══════|═══════|



**12** 



continued 

## **Saint Malachy‘s Youth Centre NOTES TO THE FINANCIAL STATEMENTS** 

for the financial year ended 31 March 2024 

## **8. EMPLOYEES AND REMUNERATION** 

## **Number of employees** 

The average number of persons employed (including executive trustees) during the financial year was as follows: 

||**2024**|2023|
|---|---|---|
||**Number**|Number|
|Employees|**11**|11|
||═══════|═══════|
|The staff costs comprise:|**2024**|2023|
||**£**|£|
|Wages and salaries|**105,163**|106,857|
||═══════|═══════|



## **9. TRUSTEE REMUNERATION AND EXPENSES** 

There are no employees who received employee benefits of more than £60,000 for the reporting period. (2022: 0) 

## **10. INTANGIBLE FIXED ASSETS** 

|**INTANGIBLE FIXED ASSETS**||
|---|---|
||**Development**|
||**Costs**|
||**£**|
|**Cost**||
|At 31 March 2024|9,600|
||───────|
|**Provision for**||
|At 1 April 2023|960|
|Charge for financial year|960|
||───────|
|At 31 March 2024|1,920|
||───────|
|**Net book value**||
|At 31 March 2024|**7,680**|
||═══════|
|At 31 March 2023|8,640|
||═══════|



## **11. TANGIBLE FIXED ASSETS** 

|**TANGIBLE FIXED ASSETS**|||
|---|---|---|
||**Fixtures,**|**Total**|
||**fittings and**||
||**equipment**||
||**£**|**£**|
|**Cost**|||
|At 31 March 2024|20,740|20,740|
||───────|───────|
|**Depreciation**|||
|At 1 April 2023|4,938|4,938|
|Charge for the financial year|4,148|4,148|
||───────|───────|
|At 31 March 2024|9,086|9,086|
||───────|───────|
|**Net book value**|||
|At 31 March 2024|**11,654**|**11,654**|
||═══════|═══════|
|At 31 March 2023|15,802|15,802|
||═══════|═══════|



**13** 



continued 

## **Saint Malachy‘s Youth Centre NOTES TO THE FINANCIAL STATEMENTS** 

for the financial year ended 31 March 2024 

|**12.**|**CREDITORS**|||||**2024**|2023|
|---|---|---|---|---|---|---|---|
||**Amounts falling due within one year**|||||**£**|£|
||Taxation and social security costs (Note|13)||||**4,585**|8,838|
||Other creditors|||||**7,197**|-|
||Accruals and deferred income|||||**840**|1,680|
|||||||───────|───────|
|||||||**12,622**|10,518|
|||||||═══════|═══════|
|**13.**|**TAXATION AND SOCIAL SECURITY**|||||**2024**|2023|
|||||||**£**|£|
||**Creditors:**|||||||
||PAYE / NI|||||**4,585**|8,838|
|||||||═══════|═══════|
|**14.**|**FUNDS**|||||||
|**14.1**|**RECONCILIATION OF MOVEMENT IN**|**FUNDS**|||**Unrestricted**|**Restricted**|**Total**|
||||||**Funds**|**Funds**|**Funds**|
||||||**£**|**£**|£|
||At 1 April 2022||||43,286|3,376|46,662|
||Movement during the financial year||||19,771|(1,788)|17,983|
||||||───────|───────|───────|
||At 31 March 2023||||63,057|1,588|64,645|
||Movement during the financial year||||(4,744)|(1,588)|(6,332)|
||||||───────|───────|───────|
||At 31 March 2024||||**58,313**|**-**|**58,313**|
||||||═══════|═══════|═══════|
|**14.2**|**ANALYSIS OF MOVEMENTS ON FUNDS**|||||||
|||**Balance**||**Income **|**Expenditure**|**Transfers**|**Balance**|
|||**1**|**April**|||**between**|**31 March**|
||||**2023**|||**funds**|**2024**|
||||**£**|**£**|**£**|**£**|**£**|
||Restricted|1,588||128,699|152,150|21,863|-|
||**Unrestricted funds**|||||||
||Unrestricted General|63,057||27,235|10,116|(21,863)|58,313|
||───────|||───────|───────|───────|───────|
||**Total funds**|**64,645**||**155,934**|**162,266**|**-**|**58,313**|
||═══════|||═══════|═══════|═══════|═══════|



## **15. TRUSTEE REMUNERATION AND EXPENSES** 

No remuneration or other benefits from employment with the charity or a related entity were received by the trustees. 

## **16. POST-BALANCE SHEET EVENTS** 

The Youth Centre's Primary funding source, the Education Authority, implemented cuts of 33% on core funding provision for the year ending 31 March 2024, which will continue into the financial year ending 31 March 2025. The Education Authority is undertaking a complete review of funding for the sector and the Youth Centre is engaging with the Education Authority and local politicians to ensure future funding will be forthcoming. 

The Youth Centre is proactively seeking funding from other grant providers and has secured funding for the 2024 summer project from the National Lottery and funding towards core costs from Children in Need. 

## **17. CHARITY STATUS** 

Saint Malachy’s Youth Centre is a charitable trust constituted under a trust deed. Saint Malachy’s Youth Centre constitutes a public benefit entity as defined by FRS 102. 

**14** 



## **SAINT MALACHY‘S YOUTH CENTRE** 

## **SUPPLEMENTARY INFORMATION** 

## **RELATING TO THE FINANCIAL STATEMENTS** 

## **FOR THE FINANCIAL YEAR ENDED 31 MARCH 2024** 

**15** 



## **Saint Malachy‘s Youth Centre SUPPLEMENTARY INFORMATION RELATING TO THE FINANCIAL STATEMENTS** 

Operating Statement 

for the financial year ended 31 March 2024 

||**2024**|2023|
|---|---|---|
||**£**|£|
|**Income**|||
|Donations|**6,211**|-|
|Door Fees|**4,680**|6,323|
|Tuck Shop|**5,070**|2,190|
|Membership Subscriptions|**1,053**|2,281|
|Hire of Sports Hall|**2,988**|5,265|
|Education Authority- East Belfast Region|**118,699**|143,672|
|Belfast City Council|**65**|2,428|
|National Lottery|**10,000**|-|
|Excursions/Activities|**7,168**|2,124|
|Queen's University Belfast|**-**|5,200|
||───────|───────|
||**155,934**|169,483|
||───────|───────|
|**Cost of generating funds**|||
|Tuck Shop|**3,441**|4,017|
||───────|───────|
||**3,441**|4,017|
||───────|───────|
|**Gross surplus**|**152,493**|165,466|
||───────|───────|
|**Expenses**|||
|Wages and salaries|**105,163**|106,857|
|Service charges|**5,031**|-|
|Light and heat|**19,465**|12,044|
|Repairs and maintenance|**10,545**|6,706|
|Office Costs|**639**|900|
|Telephone|**1,063**|1,127|
|Hire of equipment|**1,981**|1,728|
|Excursions/Activities|**7,346**|10,924|
|Auditor's/Independent Examiner's remuneration|**840**|840|
|Bank charges|**518**|563|
|General expenses|**1,126**|686|
|Depreciation|**5,108**|5,108|
||───────|───────|
||**158,825**|147,483|
||───────|───────|
|**Net (deficit)/surplus**|**(6,332)**|17,983|
||═══════|═══════|



The supplementary information does not form part of the  financial statements 

**16**