Lagmore Youth Project STATEMENT OF FINANCIAL ACTIVITIES for the financial year onded 31 Decemb8r 2023 Unrestrlcted Funds 2023 Total Unrestricted Funds Funds 2023 2022 Total Funds 2022 Notes Incom• Donations and legacies Charitable acliviliès Grants from governmenls and othor Go-funders ¢3ther InMe 153,813 1 $3,813 116,873 116,873 43,073 68 43,073 52,323 52,323 Total Income 196,954 196.954 169,198 169.198 Exp•ndlture Charitable activities 193,217 193.217 168,347 168.347 Net In¢omellèxpendlturel 3,737 3,737 851 851 Transfers ba8en funds Net movement In funds for the flnanclal year Reconclllatlon of funds.. Total funds beginning of the year 3,737 3,737 851 851 16 58,990 58,990 58,139 58,139 Total funds at th• •nd ol the year 62,727 62,727 58,990 58,990 Th? Statement of Flnanc+al Activili98 includ8s all gains and 10$8es rocogni80d in the fin8w81 year. All incomg and 8xpendilur• relate lo continuing activiligs. Thg notes on pages 12 to 17 lom part of the finanual stat•mènts 10
Lagmore Youth Project BALANCE SHEET as al 31 December 2023 2023 2022 Notrs Flxed Assets Tangible assols 12 12,547 16.729 Current Assets Debtors Cash at bank and in hand 13 33,491 17,839 42.536 51,330 42,536 Credltors: Amounts falllng due wlthln on• y•ar 14 {1,1501 12751 Nèt Current Ass•t$ 50,180 42,261 Total Assets less Currnnt Llabllltl•s 62,727 58,990 Funds Gen8ral fvnd lunr8slri¢t•dl 82,727 58.990 Total funds 18 62,727 58,990 The financial slatemenls have beèn propared in 8ccordance with the kyovisions appli¢4bl8 lo companio8 subject lo the $mall componios, regime and in accordance with FRS 102 'The Financial R8POrting Standard applicabl8 In the UK and Republic of Ireland" applying Section 1A of that Standard. Approved by the Board of Trustees and authorlsed lor Issue on 3Tr behalf ty Ind slgn•d on Its Mr Sean Devlne Chalrperson Th8 not88 on paaes 12 to 17 forrn part of the financial slatèm•nts
Lagmore Youth Project NOTES TO THE FINANCIAL STATEMENTS for the financial y8ar endèd 31 0oc8mb812023 GENERAL INFORMATION Lagmor6 Youth Projgcl is a charity Incorporated in Northern Ireland. The registered offi¢e of the charity is 12B L8gmore Drive. Belfast, BT17 OTG. United Kingdom whi¢h is olso the principal place of business of the charity The financial stat8nnls have been pmsontèd in Pound 1£) which is also th$ functional ¢urrency of the charity. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The lollowing accounting policies have beèn applied consistently in doaling wlh itvJm$ which are c¢n$KJered matenal in relation to the charity s financial stslements. Basls of preparatlon Th$ financial statem•nts have en pitspared under the historical cost nventiOn, mlf1•d lo include ¢ortain item$ ot fair value. Th financial statemenls havo been prepared in accordanc& with the Statemenl of R•commended Pr8¢tico ISORPI 'Ae¢ounling and Reporting by Charitws piaparinq their accounts In accordance with thè Finon¢ial Reporting Standard applicable in the UK and Republi¢ of Ir8land FRS 102., applying S$clion 1A of Ih8t Standord. A5 pemiitted by tho Companies A¢1 2006, the charity has varied thè standard fomals in that act for th8 Slalemenl of Financial Activities and the Balance Sheet. Departures from the standard formats are lo comply with the requirements of the Chanltes SORP and are In compliance with $6ction 4.7. 10.6 and 15.2 of that SORP. Statement of compllan Tho financial statements of thè charity for the financial year •nded 31 December 2017 have been prepared on the going concem ba3is and in acKordance wth thg Statemènt of Rgcommendgd Practice ISORPI "Accounting and Rgporting by Charities preparing their accounts In accordanc6 with th¥ Financial Rgporting Standard 8pplieAb18 in thè UK and Rapublic ol Ir•land FRS 102. applying $tion 1A of that Standard. Fund accountlng Tho following ala the cgleg0ri•8 of funds mainlain•d.. Restrlcted funds R8$lri¢led funds reprès•nl income recèiv8d which c8n only be used for path'cular purposé8, 4$ specifi8d by th donors. Such PUTPOS88 are within th8 ovèi811 obj8dives of thè charity. Unrestrlcted funds Unfeslriclad funds GOn$t of General and DesvJnal8d fund$. Gon•ral fund8 ropr•sonl 8mounlB which aro 8xp•ndablo at the diBcretion of the board, In furtherance DI the objectives of thè chanty. D8signalgd funds compris• unr8stricl8d funds Ihol the boArd has. al 118 di$¢retion, set a8ide for particular purpos6s. Th83è designations have an administrative purpose only, and do not lègally rfrstrict tho board, discmlion to apply the fund. Ineome Ineome 1$ ets9n138d by inclusion in the Slalemenl of Financi81 Activities only wh•n th• charity is legally •nlitt•d to the income, performance condition$ gtta¢hod lo th¢ Itemlsl of Income have bèen met, the amounts involved can be m88surod with $uffici8nl reliability and il is probable that the incom8 will bo r8CelV8d by the charity. Income trom charltable actlvltles Income from charitable activities Include in¢omg eamed fTom the supply of services undér contractual arrangeM8nls and from p8rforynance related grants which have condibons that specify the provision of particular services to be provided by the charity. Income from govemmenl and other co-funders is recognised when thè charrty Is legally entitled lo the Income because il is fulfilling the conditions contained in the related funding agreements. Where a grant is received in advanGe. ils recognrtion is deftrrred and Included in creditors. Where ents'llement Lxcurs before incomè is r1ved, Il is accrued in debtors. Grants from governmenis and other co-funder5 typIllY Include one of the follong lypgs of condrtions.. Performance based conditions.. whereby the charity is contractually entitled lo funding only to the extent that the core objectsves of the grant agreement ar? achievgd. Where the charity Is meeting the core obieclives of a grant agreement. il recngnises the related expendrture, lo thé èxlanl that It is reimbLtrsable by Ihg donor. as 12
conlinutsd Lagmore Youth Project NOTES TO THE FINANCIAL STATEMENTS for th8 financial year ended 31 Dec8mb&r 2023 income. •Time ba$8d ¢ondilions'. whereby the ¢harity is contractually ¥nlrtled to funding ¢)n the condrtion that it is ulilised In a particular period. In these cas9s the charity recognises the Income to tha extent it Is utilised within the period $pèufi8d in thè agreem6nl. In the absence of such conditions, assuming that r8ceipt Is probab and the amount can be reliably mèasurèd. grant income is ie¢ognised once the ¢harily is notified of entillemenl. Grants received towards ¢apitsl expenditure are credrted lo the Slat6m&nt of Financial Ath'vitses when r6e8iv6d or reGeivable, whi¢hever is eartier. Expendlture Expenditure is analysed behveen costs of ¢harilable activibes and raising funds. The costs of each aclwity are separately accumulated and disclosed, and analysed according lo their major mpOnents. Expenditure is recognised when a legal or construGtive obligation exists as a result ol a past event, a transfaf of economie benefits is required in sethem¢nt and the amount of the obligalion ¢an be reliably measured. Support Costs are those lun¢lion$ that assist tho work of the charity but cannot be allribuled lo one aclivily. SuGh costs are allo¢•lad lo acliwlias in proportion lo stoft ts'mo ¥penl or oth•r suitable measure lor each 8¢livily. Tanglbl• flxod assets and d•pre¢l*tlon Tangible fixed assets Èrè slal&d at cost or al valuation, loss accumulated depr8cialion. Th• charge to depreciation Is Galculaled lo 11¢ off the original ¢osl or valuation of tangible fixèd assets.168s their osts'maled residual value, over their éxpected u$&fvl lives as foll¢)WS'. Marquee Computer Equipmonl Game8 Room Kitchen Equiprmnl 25% Reducing Balance 25% Reducing 8alance 25Vo Reducing Balance 25% Roducing B818n¢6 Debtors Debtors are recognised al the settlomenl amount due after any discount offèrèd. Prepaym8nl$ are valued sl the amount Pf•paid ntl of any trode discourils du•. Income recognised by th8 Charity from government 8gencio$ and olhor co-funders, but not yel re¢gived al finan¢ial year end. is in¢luded in debtors. Cash at bank and In hand Cash al bank and in hand Gomprises cbsh on doposil al banks requiring less than three months noli¢e of withdrgwal. Taxatlon and deferred taxatlon No ¢urrenl or deferred taxation arises 8s the charrty has b68n oranted ¢h•ritsbl• èxèmption. Irr•eovèrAblè valued added lax is expensed as incurred. D8ferred tax is recognised in respect of all liming diffefences that have originated but not reversed al the balance sheet dale where Iransacllons or events have 0rred at thal dale that wll result In an obligation lo pay more tax In the future. or a right to pay l&$¥ tax in the future. Timing differenGeJ are temporary differenGeJ betyveen the ¢harity'$ taxable profits and ils rosults as staled In the financial $lalemenls. Deferred tax is measured on an und15counled basis al the lax rates that are anlicipaled to apply In the peri¢)ds in which the liming differences are èxpected lo reversa, basod on tsx ratos and laws that have been enacted or subslanlively 8nac16d by the bolan¢e $he¢t dato. SIGNIFICANT ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY Th8 preparation of thè frnancial sl8t8menls requires manag6m8nt lo make iudgemenls, estimat6s and assumptions that affect the amounls r8POrt8d. These estimates and judg8mènls ar8 toTrlinually reviewed and are based on experience and other factors. induding exp•ctslKJn$ of future events that ar• beli8v•d to rgasonable under cir¢umstanGes. GOING CONCERN Thè Trustges have not identrfied any material uncertainties relatod lo ev or wnditM)ns that may cost significant doubt about thg charity's ability to conbnua a$ a going concern. 13
continued Lagmore Youth Project NOTES TO THE FINANCIAL STATEMENTS for the finanual yeai ended 31 December 2023 INCOME DONATIONS AND LEGACIES Unrè$trlcted Restrlcted Funds Funds 2023 2022 Educotion Authority Belfast City Coun¢il Donations Co-operation Ireland 96.808 17.805 39.200 96.808 17,805 39,200 100.428 5.802 4,763 5.880 153,813 153,813 116,873 CHARITABLE ACTIVITIES Unrestri¢ied Restrlcted Funds Funds 2023 2022 Grants from governments and oth•r ¢04unders: Goneraled Income Common Purpose Refunds 19,368 18,278 5.427 19,368 18,278 6,427 44,472 7,851 43,073 43,073 52,323 OTHER INCOME Unrestrlcted Restrlcted Funds Funds 2023 2022 Intèrèst 68 88 EXPENDITURE CHARITABLE ACTIVITIES Dlrect Costs Other Costs Support Costs 2023 2022 Exponditur¥ on charitsbla activit•8 Staff Costs Facililalion Féés PTogramm8 Costs Malenals Overhegds Trav81 Professional Feas G8neral Expenditure 1.774 1,774 91,028 2.815 40,175 3,146 15,506 4,897 875 28,819 4,192 6,391 51.634 13.068 34,604 15,103 11,479 5,068 275 20.316 8.S8g 1,100 720 91.028 2,815 40,175 3,148 15,506 4,897 875 28,819 D•prgci*iion Cènlre Hir6 Outr8ach 4.182 81,626 111.591 193,217 168,347 SUPPORT COSTS Charltable Actlvltles 2023 2022 Sl8ff Costs Depreciation Proty Indendant Examination 91,028 4,182 15,506 875 91.028 4,182 15,506 87S 51.634 8,589 12,579 275 111,591 111,591 73,077 14
continued Lagmore Youth Project NOTES TO THE FINANCIAL STATEMENTS foi th8 financial year endéd 31 Decembèr 2023 ANALYSIS OF SUPPORT COSTS 2023 2022 Sloff Costs Dgpieciation Propety Indeyndent Examination 91.028 4,182 15,506 875 51.834 8.589 12.579 275 111,591 73,077 NET INCOME 2023 2022 Net Income Is ststed after ¢harglngll¢r¢dltlng): DepreciBtion of Intangiblè as$$15 Independent Examiner's r8muner8lion'. ndependent examination sarvice5 4,182 8.589 600 INVESTMENT AND OTHER INCOME 2023 2022 88nk intgrest 68 to. EMPLOYEES AND REMUNERATION Th8 staff coslg comprisè.. 2023 2022 Wa90$ and salarpos 91,028 51.834 Thore wwo no •mploy888 who re¢&ived b8nefits of more than £80,000 for tho reporting period (2022.. r¢il Tho Avèrag• num1 of p•r$on8 •mploy•d lin¢luding exoculive trusteesl during the linancial yoar wa6 1012022. 6} 11. TRUSTEE REMUNERATION AND EXPENSES No remunèralion OT other nlit8 Irom 8mploym8nl wrth thè charity or a r•lat8d entity woro roe•iv•d by th• Trusloes Is
conts.nued Lagmore Youth Project NOTES TO THE FINANCIAL STATEMENTS foi the Iinar)cial year ended 310t¢embei 2023 12. TANGIBLE FIXED ASSETS Total Marquee ComputerGames Room Equlpment Kttchen Equlpment Cost Al 31 December 2023 26,644 1,285 4,711 1,722 34,362 DepreGlatlon Al 1 January 2023 Charge foi the financial year 13,322 3,331 954 83 2,497 553 860 215 17.633 4.182 At 31 De¢ombor 2023 16,653 1,037 3,050 1,075 21,815 Net b¢x)k value Al 31 D•c?mb?r 2023 9,991 248 1,681 12,547 At 31 December 2022 13.322 331 2.214 862 16.729 13. DE8TORS 2023 2022 Tradg debtors 33,491 14. CREDITORS Amounts falllng due wlthln one year 2023 2022 Accru•l$ and doforrod incom• 1,150 275 RESERVES 2023 2022 Al the beginning of the yoar Surplus lor tho financial year 58,990 3,737 58.139 851 Al th8 ond of the year 62,727 58,990 16. 16.1 FUNDS RECONCILIATION OF MOVEMENT IN FUNOS Unrestrlcted Funds Total Funds At 1 JAnuary 2022 Mov8ménl during th8 fin8ncial year S8.139 851 58,139 851 Al 31 December 2022 Movement during the linancial year 58,990 3,737 58,990 3,737 At 31 DeMber 2023 62,727 62,727 16
continued Lagmore Youth Project NOTES TO THE FINANCIAL STATEMENTS for Ihg financial y8ar ended 31 D8cembei 2023 16.2 ANALYSIS OF MOVEMENTS ON FUNDS Balance 1 January 2023 Income Expendlture Transfèrs Balance between 31 December tunds 2023 UnrestrlGted lunds Unrestricted General 58,990 196.954 193,217 62.727 Total lunds 58,990 196,9S4 193,217 62,727 18.3 ANALYSIS OF NET ASSETS BY FUND Flxed assets - charlty use Current assets Current Ilabllltle5 Total Unrestricted general funds 12.547 51.330 11.180) 62,727 12,547 51,330 11,150} 62,727 17. POST-BALANCE SHEET EVENTS There havo boen no signific8nl events affecting the Charrty sinc• Ihg financial yaAr-end. 18. CHARITh STATU8 LagmoTè YoLth PToJa¢l Is o charItae tTU81 ¢on8tilut•d undar a tru$l daed. Lagmorè Youth Prolact con$lilul•s a public benefit antyty as delined by FRS 102. 17
DRAFfFINANCIAL STA TEMENTS 30 January 2025 LAGMORE YOUTH PROJECT SUPPLEMENTARY INFORMATION RELATING TO THE FINANCIAL STAT MENTS THE FINANCIAL YEAR ENDEO 31 DECEMBER 20 18
Lagmore Youth Project SUPPLEMENTARY INFORMATION RELATING TO THE FINANCIAL STATEMENTS Operating Statement for the financial year ended 31 Decfrmber 2023 2023 2022 Income Donations Educats'on Authority B•lfasl City Council CFNI Cc*Op8ralion Ireland Gon8raled Incom8 Common Purp)se Refunds 39,200 96,808 17,805 1,200 100,428 5.802 3.563 5.880 44,472 19,368 18,278 5,427 7.851 196,886 16g,196 Expenses Wages and salarS Rent payable Light and heal Facilitation Fèès Programme 0oliv•ry Costs M8leria18 EventslA¢livrti•s Travelling and entertainment Legal and prolessional Auditor'sllnd8p8ndent Examinerfs remunerabon Other resources expanded Gengral expenses DeprgGialion 91,028 51,634 1.100 11.479 13,068 34,604 15.103 6.391 5,068 275 16,506 2,815 40,175 3,146 1.774 4,897 275 600 720 20,316 8.589 28,819 4,182 193,217 168,347 Mlscellaneous Income Bank 1nterest Net surplus 3,737 8S1 The supplementary information do¢? not form part tsf the finaneial statomgnts 19