COMPANY REGISTRATION NUMBER: N1659055 CHARITY REGISTRATION NUMBER: 101636 NIPSCBF Company Limited by Guarantee Unaudited Financial Statements 31 March 2024
NIPSCBF Company Limited by Guarantee Financial Statements Year ended 31 March 2024 Page Trustees, annual report (incorporating the director's report) Independent examiner's report to the trustees Statement of financial activities (including income and expenditure account) statement of financial position statement of cash flows Notes to the financial statements
Page 1 NIPSCBF Company Limited by Guarantee Trustees, Annual Report (Incorporating the Director's Report) Year ended 31 March 2024 The trustees, who are also the directors for the purposes of cornpany law, present their report and the unaudiled financial statements of the charity for the year ended 31 March 2024. Reference and administrative details Registered charity name Charity reglstration number Company registratlon number N1659055 Princlpal offlce and reglstered HM Prison Maghaberry Old Road office Upper Ballinderry Lisburn Antrlm BT28 2PT NIPSCBF 101636 The trustees l Millar J Aicken R Atknison P Bradley J Burton K Clarke M Mcmullan R Murtagh J Simpson N Mullan D Jackson Independent examiner Elaine Mulholland on behalf of Johnston Graham Limited 2161218 Holywood Road Belfast BT41PD Structure, governance and management On 1 October 2020 the Northern Ireland Prison Service Central Benevolent Fund, an unincorporated entity which is a registered charity, transferred its assets and liabilities in their entirety to NIPSCBF, having first sought approval from The Charites Commission of Northern Ireland. The company has now been fomially registered with The Charities Commission of Northern Ireland and it's a company limited by guarantee. registered in Northern Ireland. The company was formed to continue the objectives of relief of poverty and need for its members.
Page 2 NIPSCBF Company Limited by Guarantee Trustees, Annual Report {Incorporating the Director's Report) (contInu) Year ended 31 March 2024 Objectives and activities The objects are to promote the following purposes: the relief of poverty or need by reason of age, ill health, disability, financial hardship or other disadvantage of those ernployees or former employees of the Northern Ireland Prison Service who were or are members of the charity, and their widows, widowers and dependents and those civilian grades employed within the Northern Ireland Prison Service who are current members of the charity and upon such civilian grad8 being medically retired from the employment of the Northern Ireland Prison Service or or being deceased their widows, widowers and dependents; and such other exclusively charitable purpose according to the law of Northern Ireland as the trustees may from time to time decide. In settlng objectives and planning activities for the year, the trustees hav8 given Careful consideration to the Charity Commlssion for Northern Ireland's guidan¢8 on public benefit to ensure that the activlties have helped to achieve the Charity's purposes and provlde a beneflt to the beneficiaries.
Page 3 NIPSCBF Company Limited by Guarantee Trustees. Annual Report (Incorporating the Director's Report) {contlnugdJ Year ended 31 March 2024 Achlevements and performance The charity provides assistance to its beneficiaries through the provision of donations, annuities, loans and other forms of assistance. The charity also provides respite services, accommodation and holiday homes to its beneficiaries. The breakdown of the Beneficiaries are,. 1845 Retired Officers, 580 Widows, and we have 887 Serving staff mambers. The Assistance committee within the fund have also spent another year working efficiently ensuring that the needs of any of our beneficiaries who have requested asslstance are met. Our norm81 meetings aro held on tha first Monday of each month. ThSs year all properties al home were used to thelr full potential. In April we purchased another 2 bedroom property in Potora Wharf, Enniskillen. A full programme of events were held this year: 9th May 23 PJ Kerr Memorial Golf Day 25th - 27th May 23 Trlp to Chelsea Flower Show 241h June 23 Day at The Races 6th July 23 David Black Memorial Day 28th July 23 Trip to Jungle Nl 28th August 23 Family Fun Day 10th September 23 Trip to Ulster Vererans, Day at the National Arboretum 17th September 23 Service of Remembrance for all those who died during covid 22nd-29th Sept 23 Trip to Cala Bona, Majorca 1 Oth-13th Ocl 23 Trip for Widows to Killeshin Hotel 18th October 23 Afternoon Tea for widows and retired 1 Oth November 23 Memorial service at Hydebank Wood Memorial Garden 24th-26th Nov 23 Christmas Shopping Trlp to Manchester 8th Décembèr 23 Chrlstmas Dinner, Royal Courts Hotel, Portrush 9th December 23 Carol s8rvice at St Annes Cathedral 14th December 23 Christmas Dinner, Belfast Royal Golf Club 15th December 23 Christmas Dinner, Tandragee Golf Club 21st-23rd F8b 24 Widows Trip to Killyhevlin, Enniskillen In addition, our local committe8s continue to work in each establishment to look after the naeds of serving staff. Financlal revlew Incoming resourcas for tha period totalled £387,227 {2023.. £379.023. Resources of £397,67812023'. £379,678) were expended, resulting in a deficit for the period of £10,451 and a net asset position of £1,454,980.
Page 4 NIPSCBF Company Llmited by Guarantee Trustees, Annual Report (Incorporating the Director's Report) (contlnuedj Year ended 31 March 2024 Plans for future periods The charity will continue to build on the success to date in the coming year by continuing to support its charitable activities. On 30th September 2020, the charity was incorporated and the assets and liabilities of the entity were transferred in their entirety to a charitable company limited by gu8rantee, NIPSCBF, regislered in Northern Ireland. Srnall company provislons This report has been prepared In accordance with the provlslons applicable to companies entitled to the small companles exemptlon. The trustees, annual report was approved on 1 September 2024 and signed on behalf of the board of trustees by: J Simpson Trustee
Page 5 NIPSCBF Company Llmited by Guarantee Independent Examiner's Report to the Trustees of NIPSCBF Year ended 31 March 2024 I report to the trustees on my examination of the financial statements of NIPSCBF ('the charity'l for the year ended 31 March 2024. Responslbllitles and basls of report As the trustees of the company land also its directors for the purposes of company law> you are responsible for the preparation of the financial statements in accordance with the requirements of Charities Act (Northern Ireland) 2008 (the '2008 Act,) and the Companies Act 2006 {'the 2006 Act,). You ar8 satisfied that the accounts of the company are not required by charity or company law to be audited and hava chosen Instead to have an independent examination. Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity's financial statements as carried out under section 65 of the 2008 Act. In carrying out my examination I have followed the general Directions given by the Charity Commission for Northern Ireland under section 65{9}Ibl of the 2008 Act. Independent examlnerfs statement Since the charity's gross income exceeded £250,000 your examiner must be a member of a body listed In s8Ction 65 of the 2008 Act. I confirm that l am qualified to undertake the examination becaus8 l am a member of Chartered Accountants Ireland, which Is one of the listed bodies. I have completed my examination. I confirm that no matters have come to my attention In connection with my examination giving me cause to believe that in any material respect.. accounting records were not kept in respect of the charfty as required by section 386 of the 2006 Act., or the financial statements do not accord wlth those r8cords,' or the financial statements do nol comply with the accounting requirements of section 396 of Ihe 2006 Act other Ihan any requirement that the accounts give a 'true and fair, view which is not a matt8r considered as part of an independent examination., or the financial statements have not been prepared in accordance wlth the methods and prinGipl&s of the Statement of Recommended Practice for accounting and raporting by charities applicable to charities preparing their accounts in accordance with the Flnanclal Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). I confirm that Ihere are no other matters to which your attention should be drawn to enable a proper understanding of the accounts to be reached. Elaine Mulholland on behalf of Johnston Graham Limited Independent Examiner 2161218 Holywood Road Belfast BT41PD
Page 6 NIPSCBF Company Limited by Guarantee Statement of Financial Activities (Including Income and expenditure account) Year ended 31 March 2024 2024 Unrestricted funds Total funds 2023 Total funds Note Income and endowments Donations and legacies Charitable activitl8S Investment income 360,346 26,784 97 360,346 26,784 97 352,750 26,226 47 Total Income 387,227 387,227 379,023 Expenditure Expenditure on charitable activitles Other expenditure Total expenditure 397,678 397,678 430,015 {171,3001 258,715 397,678 397,678 Net (expenditurellincomè and net movement In funds <10,451) (10,451 } 120,308 Reconclllatlon of fund8 Total funds brought forward Total funds carried forward 1,465,431 1,465,431 ,454,980 1,345,123 1,454,980 1,465,431 The statement of financial aGlivitles includes all gains and losses recognised In the year. I Income and expenditure derive from continuing activitles. The note$ on pages 9 to 15 form part of these financial statements.
Page 7 NIPSCBF Company Limited by Guarantee statement of Financial Position 31 March 2024 2024 2023 Note Fixed assets Tangible fixed assets 15 1,267,513 1,316,211 Current assets Debtors Cash at bank and in hand 16 43,653 149,570 193,223 43,530 111,512 155,042 Creditors: amounts falling due wlthin one year Net current assets Total assets less current Ilabilltles 17 5,756 5,822 149,220 187,467 1,454,980 1,465,431 Funds of the charlty Unrestricted funds 1,454,980 1,454,980 1,465,431 1,465,431 Total charlty funds 18 For the year ending 31 March 2024 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. Directors, responsibilities.. The members have not required Ihe company to obtain an audit of its financial statements for the year in question in accordance with section 476; Tha directors acknowledge their responsibilities for complying with the requirements of the Act with reypect to accounting records and the preparation of financial statements. These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies, regime. These financ181 statements were approved by the board of trustees and authorlsed for issue on 1 September 2024, and are signed on behalf of the board by: J Simpson Trustee The note5 on pages 9 to 15 form part of these financial statements.
Page 8 NIPSCBF Company Limited by Guarantee Statement of Cash Flows Year ended 31 March 2024 2024 2023 Net {expenditure)liDoome (10,451) Adjusfments for.. Depreciation of tangible fixed assets other interest receivable and similar income Gains on disposal of tangible fixed assets 48,698 (97) 54,334 147) (171,300) Changes in.. Trade and other debtors Trade and other creditors Cash genarated from operations Interest received Net cash from operatlng actlvities (1231 (66) 37,961 (323) 156 3,128 97 47 38,058 3,175 Cash flows from Investlng actlvitles Purchase of tangible assets Proceeds from sale of tangible assets Net cash used in investing activities (374,583} 255,000 (119,583} Net In¢reasel{deGrease) In ¢ash and cash equlvalants Cash and cash equivalents at beglnning of year Cash and cash equlvalents at end of year 38,058 111,512 149,570 1116,408) 227,920 111,512 The notes on pages 9 to 15 form part of these financial statements.
Page 9 NIPSCBF Company Limited by Guarantee Notes to the Financial Statements Year ended 31 March 2024 General information The charity is a public benefit entity and a private company limited by guarantee, registered in N.Ireland and a registered charity in Northern Ireland. The address of the registered office is HM Prison Maghaberry Old Road, Upper Ballinderry, Lisburn, Antrim. BT28 2PT. statement of compliance These financial stalements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland,, the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in Ihe UK and Republic of Ireland (FRS 102) (Charities SORP (FRS 1021) and the Companies Act 2006. Accountlng pollcles Basls of preparatlon The financlal statements have been prepared on the historical cost basls, as modified by the revaluation of certain financial assets and Ilabilities and investment properties measured at falr value through income or expenditure. The financial statements are prepared in sterling, which is the functional currency of the entity. Going concern There are no material uncertainties about the charity's ability to continue. Fund accounting Unr8strict8d funds are avallable for use al the discretion of the trustees to further any of the charity's purposes. Designated funds are unreslricted funds earmarked by the trustees for particular future project or commitment. Restrlcted funds are subjected to restrlctions 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.
Page 10 NIPSCBF Company Limited by Guarantee Notes to the Financial Statements (contlnued) Year ended 31 March 2024 Accountlng policies (Gontlnuedj Incoming resources All incoming resources are included in the statement of financial activities when entitlement has pass.e¢ 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 Tollowing specrflc policies are applied to particular categories of income.. income from donations or grants is recognised when there Is evidence of entitlemant to th8 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 lo measure reliably, In which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and servicés are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contrlbution of general volunteers. Income from contracts for the supply of services is recognised wlth the dellvery of the contracted service. This is Glassified 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. Resources expended Expenditure is recognised on an accruals basis as a liability is inGurred. Expenditure includes any VAT which cannot be fully recovered, and is classified undèr headings of the statement of financial activities to which it relales.. expendlture on ralsing funds includes the costs of all fundraising aclivities, events, non-charitable trading actlvities, and the sale of donated goods. expenditure on charitable activities includes all costs incurred by a charity in undertaking activitles 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 charitable 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 attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the aGtivitie3 they Gontribute to on a re3son¥ble, jiJ*tifiable and consistent basis. Tanglble assets Tangible assets are inilially recorded at St, 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.
Page 11 NIPSCBF Company Limited by Guarantee Notes to the Financial Statements (continu) Year ended 31 March 2024 Accounting policles fconllnugd) Tanglble assets {cDntlnued) An increase in Ihe carrying amount of an asset as a result of a revaluation, is recognised in other reco nised ains and losses, unless it reverses a charge for impairment that has previously been recognised as expenditure within t emen Inan ase 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 cas8 the loss is shown within other recognised gains and losses on the statement of financial activities. Depreclatlon Depreciation Is calculated so as to write off the cost or valuation of an asset, less its resldual value. over the useful economic lif8 of that asset as follows.. Freehold property 2'/c Str8lght line Long leasehold propety 2 /0 Straight line Fixtures and fittings 1 00/0 Straight line Equipment 10tt/o Straight Ilne Impairment of fixed assets A review for indicators of impairment is carried out at each reporting date, wlth the recovarable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairrnents are also reviewed for possible reversal at each reporting date. 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 unil to which the asset belongs. The cash-generating unit is the smallest identifiable group of 8ssets thal includes the asset and generates cash inflows that largely Ind8pendent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, th8 goodwill acqulred in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from r liabilities of the charity are assigned to those units. Flnanclal Instruments A financlal asset or a financial Ilability is recognised only when the charity becomes a paty to the contractual provisions of thè instrument. Basic financial instruments are initially recosnised 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 instrumenty are subsequently measured at amortised cost.
Page 12 NIPSCBF Company Llmited by Guarantee Notes to the Financial Statements Icontlnu•d) Year ended 31 March 2024 Accountlng policies (continued) Flnancial instruments (conllnuedj Where investments in shares are publicly traded or their fair value can otheiSe be measured reliably, Ihe investmenl is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impairment. other financial instruments, including derivatives, are initially recognised 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 markel rate, in which case the asset is measured 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 financlal activities, with the exception of hedging instruments in a designated hedglng relationship. 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 impalrment, an Impairment loss Is recognised under the appropriate heading in the statement of financial activities In which the initial gain was r8cognised. For all equity instruments regardless of significance, and other financial assets that are individually significant, Ihese are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversa15 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 Ihe impairm8nl not previously been recognised. Llmlted by guarantee The company is Ilmited by guarantee and has no authorised or issued share capital. Donatlons and legacles Unrestricted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Donatlons Subscriptions Retiree Donations Covenant Rebate Donations Events and Excursions Contributions to payroll 100,437 58,260 43,748 3.287 58,614 96,000 100,437 58,260 43.748 3.287 58,614 96,000 360,346 100,144 56,071 43,361 2,015 55,1b9 96,000 100,144 56,071 43,361 2,015 55,159 96,000 360,346 352,750 352,750
Page 13 NIPSCBF Company Limited by Guarantee Notes to the Financial Statements (contlnued) Year ended 31 March 2024 Charitable activitles Unrestricted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 other income from charitable activities type 1 26,784 26,784 26,226 26,226 Investment Income Unrestricted Total Funds Unrestrlcted Total Funds Funds 2024 Funds 2023 Bank interest receivable type 1 97 97 47 47 Expendlture on charltable a¢tlvltlès by fund type Unrestrlcted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Charitable Actlvities 397,678 397,678 430,015 430,015 Expènditure on charitable activlties by activlty type Actlvities undertaken Total funds directly 2024 Total fund 2023 Charitable Activities 397,678 397,678 430,015 10. Other expendlturè Unrestrlct8d Total Funds Unrestrlcted Total Funds Funds 2024 Funds 2023 Loss on disposal of tangible fixed assets held for charity's own use {171,300} (171,300) 11. Net (expendlture)lincome Net lexpenditure)lincome is stated after chargingl(crediting)'. 2024 2023 Depreciation of tangible fixed assets Gains on disposal of tangible fixed assets 48,698 54,334 1171,3001
Page 14 NIPSCBF Company Limited by Guarantee Notes to the Financial Statements (contlnued) Year ended 31 March 2024 12. Independent examination fees 2024 2023 Fees payable to the independent examiner for.. Independent examination of the financial statements 3.160 2.800 13. Staff costs The total staff costs and employee benefits for the reporting perlod are analysed as follows.. 2024 2023 Wages and salaries 138,346 118,784 The average head count of employees during the year was 4 (2023.. 41. No employee recalved employee benefits of more than £60,000 durlng the year (2023.. NII). 14. Trustee remunaratlon and expenses No remuneratlon nor other benefits from employment wlth the charity were recelved by the trustees. 15. Tangible flxed assets Land and Fixtures and buildings fittings Equipment Total Cost At 1 April 2023 and 31 March 2024 Depreclatlon At 1 April 2023 Charge for the year At 31 March 2024 1,744,308 223,936 38,000 2,006,244 431,897 44,898 223,936 34,200 3,800 690,033 48,698 476,795 223,936 38,000 738,731 Carrylng amount At 31 March 2024 1,267,513 1,312,411 1,267,513 1,316,211 At 31 March 2023 3,800 16. Debtors 2024 2023 Other debtors 43,653 43,530
Page 15 NIPSCBF Company Limited by Guarantee Notes to the Financial Statements fcontlnued) Year ended 31 March 2024 17. Creditors: amounts falling due within one year 2024 2023 Social security and other taxes other creditors 2,386 3,370 2,450 3,372 5,756 5,822 18. Analysls of charltable funds Unrestrlctad funds At 31 March 202 At 1 April 2023 Income Expenditure General funds 1,465,431 387,227 (397,678) 1,454,980 At 31 March 202 At 1 April 2022 Income Expenditure General funds 1,345,123 379,023 (258,715) 1,465,431 19. Analysls of net assets between funds Unrestricted Total Funds Funds 2024 Tangible fixed assets Current assets Creditors less than 1 year Net assets 1,267,513 193,223 15,756) 1,454,980 1,267,513 193,223 {5,756) 1,454,980 Unrestricted Total Funds Funds 2023 Tangible f1xed assets Current assets Creditors less than 1 year Net assets 1,316,211 155,042 (5,822) 1,465,431 1,316,211 155,042 (5,822) 1,465,431 20. Analysls of changes In net debt At At 1 Apr 2023 Cash flows 31 Mar 2024 Cash at bank and in hand 111,512 38,058 149,570