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COMPANY REGISTRATION NUMBER: NI659055
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)
1
Independent examiner's report to the trustees
4
Statement of financial activities (including income and expenditure account)
5
Statement of financial position
6
Statement of cash flows
7
Notes to the financial statements
8
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 company law, present their report and the unaudited financial statements of the charity for the year ended 31 March 2024 .
Reference and administrative details
Registered charity name
NIPSCBF
Charity registration number
101636
Company registration number
NI659055
Principal office and registered
HM Prison Maghaberry Old Road
office
Upper Ballinderry
Lisburn
Antrim
BT28 2PT
The trustees
I 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
216/218 Holywood Road
Belfast
BT4 1PD
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 formally 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.
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 employees 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 grade 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 setting objectives and planning activities for the year, the trustees have given careful consideration to the Charity Commission for Northern Ireland's guidance on public benefit to ensure that the activities have helped to achieve the Charity's purposes and provide a benefit to the beneficiaries.
Achievements 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 members.
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 assistance are met.
Our normal meetings are held on the first Monday of each month.
This year all properties at home were used to their 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 Trip to Chelsea Flower Show
24th June 23 Day at The Races
6th July 23 David Black Memorial Day
28th July 23 Trip to Jungle NI
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
10th-13th Oct 23 Trip for Widows to Killeshin Hotel
18th October 23 Afternoon Tea for widows and retired
10th November 23 Memorial service at Hydebank Wood Memorial Garden
24th-26th Nov 23 Christmas Shopping Trip to Manchester
8th December 23 Christmas Dinner, Royal Courts Hotel, Portrush
9th December 23 Carol service at St Annes Cathedral
14th December 23 Christmas Dinner, Belfast Royal Golf Club
15th December 23 Christmas Dinner, Tandragee Golf Club
21st-23rd Feb 24 Widows Trip to Killyhevlin, Enniskillen
In addition, our local committees continue to work in each establishment to look after the needs of serving staff.
Financial review
Incoming resources for the period totalled £387,227 (2023: £379,023. Resources of £397,678 (2023: £379,678) were expended, resulting in a deficit for the period of £10,451 and a net asset position of £1,454,980.
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 guarantee, NIPSCBF , registered in Northern Ireland.
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
The trustees' annual report was approved on 1 September 2024 and signed on behalf of the board of trustees by:
J Simpson
Trustee
NIPSCBF
Company Limited 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') for the year ended 31 March 2024.
Responsibilities and basis of report
As the trustees of the company (and 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 are satisfied that the accounts of the company are not required by charity or company law to be audited and have 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)(b) of the 2008 Act. Independent examiner's statement
Since the charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 65 of the 2008 Act. I confirm that I am qualified to undertake the examination because I 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:
1. accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or
2. the financial statements do not accord with those records; or
3. the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair' view which is not a matter considered as part of an independent examination; or
4. the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
I confirm that there 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
216/218 Holywood Road Belfast BT4 1PD
1 September 2024
NIPSCBF
Company Limited by Guarantee
Statement of Financial Activities
(including income and expenditure account)
Year ended 31 March 2024
2024
2023
Unrestricted funds
Total funds
Total funds
Note
£
£
£
Income and endowments
Donations and legacies
5
360,346
360,346
352,750
Charitable activities
6
26,784
26,784
26,226
Investment income
7
97
97
47
---------
---------
---------
Total income
387,227
387,227
379,023
---------
---------
---------
Expenditure
Expenditure on charitable activities
8,9
397,678
397,678
430,015
Other expenditure
10
( 171,300)
---------
---------
---------
Total expenditure
397,678
397,678
258,715
---------
---------
---------
---------
---------
---------
Net (expenditure)/income and net movement in funds
( 10,451)
( 10,451)
120,308
---------
---------
---------
Reconciliation of funds
Total funds brought forward
1,465,431
1,465,431
1,345,123
------------
------------
------------
Total funds carried forward
1,454,980
1,454,980
1,465,431
------------
------------
------------
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
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
16
43,653
43,530
Cash at bank and in hand
149,570
111,512
---------
---------
193,223
155,042
Creditors: amounts falling due within one year
17
5,756
5,822
---------
---------
Net current assets
187,467
149,220
------------
------------
Total assets less current liabilities
1,454,980
1,465,431
------------
------------
Funds of the charity
Unrestricted funds
1,454,980
1,465,431
------------
------------
Total charity funds
18
1,454,980
1,465,431
------------
------------
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 the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect 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 financial statements were approved by the board of trustees and authorised for issue on 1 September 2024 , and are signed on behalf of the board by:
J Simpson
Trustee
NIPSCBF
Company Limited by Guarantee
Statement of Cash Flows
Year ended 31 March 2024
2024
2023
£
£
Cash flows from operating activities
Net (expenditure)/income
(10,451)
120,308
Adjustments for:
Depreciation of tangible fixed assets
48,698
54,334
Other interest receivable and similar income
( 97)
( 47)
Gains on disposal of tangible fixed assets
( 171,300)
Changes in:
Trade and other debtors
( 123)
( 323)
Trade and other creditors
( 66)
156
--------
---------
Cash generated from operations
37,961
3,128
Interest received
97
47
--------
-------
Net cash from operating activities
38,058
3,175
--------
-------
Cash flows from investing activities
Purchase of tangible assets
( 374,583)
Proceeds from sale of tangible assets
255,000
--------
---------
Net cash used in investing activities
( 119,583)
--------
---------
Net increase/(decrease) in cash and cash equivalents
38,058
( 116,408)
Cash and cash equivalents at beginning of year
111,512
227,920
---------
---------
Cash and cash equivalents at end of year
149,570
111,512
---------
---------
NIPSCBF
Company Limited by Guarantee
Notes to the Financial Statements
Year ended 31 March 2024
1. 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.
2. Statement of compliance
These financial statements 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 the UK and Republic of Ireland (FRS 102) (Charities SORP (FRS 102)) and the Companies Act 2006.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
There are no material uncertainties about the charity's ability to continue.
Fund accounting
Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes. Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment. Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.
Incoming resources
All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income: - income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably. - legacy income is recognised when receipt is probable and entitlement is established. - income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers. - income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.
Resources expended
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates: - expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods. - expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to 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 activities they contribute to on a reasonable, justifiable and consistent basis.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other recognised gains and losses, unless it reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial activities. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other recognised gains and losses, except to which it offsets any previous revaluation gain, in which case the loss is shown within other recognised gains and losses on the statement of financial activities.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Freehold property
-
2% straight line
Long leasehold property
-
2% straight line
Fixtures and fittings
-
10% straight line
Equipment
-
10% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments 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 unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the charity are assigned to those units.
Financial instruments
A financial asset or a financial liability is recognised only when the charity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs. Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted. Debt instruments are subsequently measured at amortised cost. Where investments in shares are publicly traded or their fair value can otherwise be measured reliably, the investment 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 market 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 financial activities, with the exception of hedging instruments in a designated hedging 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 impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Limited by guarantee
The company is limited by guarantee and has no authorised or issued share capital.
5. Donations and legacies
Unrestricted Funds
Total Funds 2024
Unrestricted Funds
Total Funds 2023
£
£
£
£
Donations
Subscriptions
100,437
100,437
100,144
100,144
Retiree Donations
58,260
58,260
56,071
56,071
Covenant Rebate
43,748
43,748
43,361
43,361
Donations
3,287
3,287
2,015
2,015
Events and Excursions
58,614
58,614
55,159
55,159
Contributions to payroll
96,000
96,000
96,000
96,000
---------
---------
---------
---------
360,346
360,346
352,750
352,750
---------
---------
---------
---------
6. Charitable activities
Unrestricted Funds
Total Funds 2024
Unrestricted Funds
Total Funds 2023
£
£
£
£
Other income from charitable activities type 1
26,784
26,784
26,226
26,226
--------
--------
--------
--------
7. Investment income
Unrestricted Funds
Total Funds 2024
Unrestricted Funds
Total Funds 2023
£
£
£
£
Bank interest receivable type 1
97
97
47
47
----
----
----
----
8. Expenditure on charitable activities by fund type
Unrestricted Funds
Total Funds 2024
Unrestricted Funds
Total Funds 2023
£
£
£
£
Charitable Activities
397,678
397,678
430,015
430,015
---------
---------
---------
---------
9. Expenditure on charitable activities by activity type
Activities undertaken directly
Total funds 2024
Total fund 2023
£
£
£
Charitable Activities
397,678
397,678
430,015
---------
---------
---------
10. Other expenditure
Unrestricted Funds
Total Funds 2024
Unrestricted Funds
Total Funds 2023
£
£
£
£
Loss on disposal of tangible fixed assets held for charity's own use
( 171,300)
( 171,300)
----
----
---------
---------
11. Net (expenditure)/income
Net (expenditure)/income is stated after charging/(crediting):
2024
2023
£
£
Depreciation of tangible fixed assets
48,698
54,334
Gains on disposal of tangible fixed assets
(171,300)
--------
---------
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 period 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: 4 ).
No employee received employee benefits of more than £60,000 during the year (2023: Nil).
14. Trustee remuneration and expenses
No remuneration nor other benefits from employment with the charity were received by the trustees.
15. Tangible fixed assets
Land and buildings
Fixtures and fittings
Equipment
Total
£
£
£
£
Cost
At 1 April 2023 and 31 March 2024
1,744,308
223,936
38,000
2,006,244
------------
---------
--------
------------
Depreciation
At 1 April 2023
431,897
223,936
34,200
690,033
Charge for the year
44,898
3,800
48,698
------------
---------
--------
------------
At 31 March 2024
476,795
223,936
38,000
738,731
------------
---------
--------
------------
Carrying amount
At 31 March 2024
1,267,513
1,267,513
------------
---------
--------
------------
At 31 March 2023
1,312,411
3,800
1,316,211
------------
---------
--------
------------
16. Debtors
2024
2023
£
£
Other debtors
43,653
43,530
--------
--------
17. Creditors: amounts falling due within one year
2024
2023
£
£
Social security and other taxes
2,386
2,450
Other creditors
3,370
3,372
-------
-------
5,756
5,822
-------
-------
18. Analysis of charitable funds
Unrestricted funds
At 1 April 2023
Income
Expenditure
At 31 March 2024
£
£
£
£
General funds
1,465,431
387,227
(397,678)
1,454,980
------------
---------
---------
------------
At 1 April 2022
Income
Expenditure
At 31 March 2023
£
£
£
£
General funds
1,345,123
379,023
(258,715)
1,465,431
------------
---------
---------
------------
19. Analysis of net assets between funds
Unrestricted Funds
Total Funds 2024
£
£
Tangible fixed assets
1,267,513
1,267,513
Current assets
193,223
193,223
Creditors less than 1 year
(5,756)
(5,756)
------------
------------
Net assets
1,454,980
1,454,980
------------
------------
Unrestricted Funds
Total Funds 2023
£
£
Tangible fixed assets
1,316,211
1,316,211
Current assets
155,042
155,042
Creditors less than 1 year
(5,822)
(5,822)
------------
------------
Net assets
1,465,431
1,465,431
------------
------------
20. Analysis of changes in net debt
At 1 Apr 2023
Cash flows
At 31 Mar 2024
£
£
£
Cash at bank and in hand
111,512
38,058
149,570
---------
--------
---------