Charity registration number XR 31215
Company registration number NI067640 (Northern Ireland)
NEW HORIZONS PARTNERSHIP LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
NEW HORIZONS PARTNERSHIP LIMITED
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
Eamon McColgan
Bill McIntyre
Eoin McDonald
Patricia McCormack
Carmel McGrenra
Linda McIntyre
Paul Fagan
Sandra Friel
Charity number (Northern Ireland)
NIC101401
Charity number (Charitable Status United Kingdom)
XR 31215
Company number
NI067640
Registered office
45c Derry Road
Strabane
Tyrone
Northern Ireland
BT82 8DY
Auditor
SCC Chartered Accountants Ltd
1 The Square
Moy
Co. Tyrone
BT71 7SG
Bankers
Allied Irish Bank
Meadowbank
Strand Road
Co. Derry
Solicitors
Worthingtons Solicitors
24-38 Gordon Street
Belfast
BT82 8DY
NEW HORIZONS PARTNERSHIP LIMITED
CONTENTS
Page
Trustees' report
1 - 5
Independent auditor's report
6 - 8
Statement of financial activities
9
Balance sheet
10
Statement of cash flows
11
Notes to the financial statements
12 - 22
NEW HORIZONS PARTNERSHIP LIMITED
TRUSTEES' REPORT REPORT (INCLUDING DIRECTORS' REPORT)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 1 -

The Trustees' present their annual report and financial statements for the year ended 31 December 2025.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the Charity's Memorandum and Articles of Association, the Companies Act 2006 and "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)" (effective 1 January 2019).

Objectives and activities

The charity's principal activity during the year was to provide training, vocational and inclusive community opportunities for adults with learning disabilities across the North West border region; developing best practice and sharing it within and outside the region.

The objectives of the charity are to provide services in order to support learning disabled trainees to fulfil their vocational potential and to achieve a greater level of independence. Since 1995 New Horizons has developed a range of services to help adults with learning disabilities to realise their full potential.

The trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on the public benefit when reviewing the Trust's aims and objectives and in planning for future activities and setting the policy for the year.

The Charity focuses on four main areas of operational activity;

- Training - to equip trainees with specific vocational and life skills;

- Community Opportunities - trainees follow a realistic and achievable vocational path through placements with local placement providers, centered around the trainee, for the trainee and by the trainee;

- Social Enterprises – currently one horticultural enterprise in Strabane. Strabane Garden Centre continues to provide vocational opportunities for our trainees. This social enterprise is an excellent example of how New Horizons achieves equality and inclusion of our service users during their placement. Our service users have the opportunity to apply the skills and competencies they have developed on our training programmes in a supported practical work environment, as well as providing opportunities for the public to observe the real meaningful work that the trainees do; and

- Development of Learning resources - for organisations that provide training and services to individuals with a learning disability. These are a series of learning resources and programmes designed to teach individuals with learning disabilities essential skills in the areas of work and travel. Newhop Skills for Work consists of eight units of general work skills content and four units of vocationally-orientated content. Newhop Skills for Travel is a complete travel training programme for organisations working with people with learning disabilities, who wish to teach their end users safe, independent travel.

Public benefit

The Trustees' have paid due regard to guidance issued by the Charity Commission in deciding what activities the Charity should undertake.

NEW HORIZONS PARTNERSHIP LIMITED
TRUSTEES' REPORT REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 2 -
Achievements and performance
Significant activities and achievements against objectives

During this reporting year, the organisation continued to build on its strengths and past achievements. Its increasing visibility in the Community/public domain; utilising social media to its best advantage and responding to the needs and wishes of our client group, not only meeting the goals of our trainees through the person-centred planning process but generating interest from other organisations to work collaboratively; as well as from schools and parents who are involved on futures planning for the next generation.

As well as the ongoing creation and delivery of new and varied timetables of learning (which still included the delivery of key reading, writing and life skills, acting as a base for accredited training); the focus had markedly shifted this year in response to funder and trainee demand for greater and fuller Community inclusion which is real and meaningful. Trainees chose their own experiences supported by their assigned key worker and programmes became so much more enjoyable with the learning still happening but in more practical, authentic ways and classroom work deprioritised somewhat, with an exceptional offering over the Summer months of activities and events all chosen by the trainees themselves.

Good physical and mental health support remained paramount throughout, working closely with other organisations and providers in the local Community around mental health, physical activity, nutrition, mindfulness - as examples. We continued to utilise, to the fullest, our enhanced technological skills and equipment purchased to enhance the experience. Staff training continued apace to ensure that our staff Team remain fully knowledgeable in all areas of their practice and that we continue to be leaders in the delivery of services to adults with learning disabilities in this geographical catchment area.

The relocation of the Training & Community Opportunities’ service to Orchard Road Industrial Estate has continued to allow organisational development overall; as well as hugely benefitting Strabane Garden Centre with the space that the move afforded – granting autonomy to the Team there to utilise their creativity to further the unique service offering, with an initial focus overall on attracting new trainees.

The priority in 2025 remained – that of ensuring that our trainees, their families, our funder and all stakeholders’ expectations were met/surpassed by our committed staff Team.

Financial review

During the year ended 31 December 202 5 the charity received total income of £499,583 (202 4: £442,101) and had an overall surplus of £3 5,158 (202 4: £49,815 deficit). Income from service level agreements with Western Health & Social Care Trust increased by £68,112. Overall expenditure decreased by £27,491. The charity remains in a strong financial position with reserves of £42 7,249 at 31 December 202 5 (202 4: £392,091).

Reserves policy

While funding for the charity's core activities is secured until 2025, New Horizons Partnership Limited needs to establish a reserves policy to have sufficient cash reserves should the company experience cash flow problems or costs involved in any potential wind up of the company and/or provision for redundancy costs.

It is recommended that reserves equivalent to three to six months running costs for core activities together with anticipated improvements to fixed assets be retained. The target set and realised for this in the current year is £150,000. The level of reserves are reviewed by the trustees and management regularly throughout the year. The minimum level of reserves for the ongoing needs of the charity is reviewed by the trustees on an annual basis.

NEW HORIZONS PARTNERSHIP LIMITED
TRUSTEES' REPORT REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 3 -
Plans for future periods

Our strategy to extend our reach to all those we support, while maintaining a sustainable pace of growth, remains a central priority for the organisation. Awareness of our work continues to strengthen both within the local community and across the wider sector. This has been supported by high‑quality communications and effective collaborative working, which reflect the organisation’s development and engagement with emerging media trends. These efforts have contributed to a positive profile of our trainees and have played an important role in promoting greater disability awareness within society.

Our commitment to continuous quality monitoring—and the ongoing improvement of our service delivery—remains a central principle of our work. Quality is assured through robust internal processes that allow us to review performance, identify areas for development, and respond effectively to the evolving needs of those we support. The 5‑Year Strategic Plan continues to set out our Mission, objectives, and long‑term priorities, providing a strong framework for building on our achievements and adopting an increasingly holistic approach to service delivery.

Looking ahead, New Horizons Partnership Ltd. remains guided by the key values of professionalism, innovation, personalisation, flexibility, positive risk‑taking, and responsiveness at every level of the organisation. While we benefit from a strong base of core activities, we recognise the challenges of an increasingly competitive environment. It is therefore essential that we continue to consolidate our existing services and further leverage our inherent strengths.

By doing so, New Horizons Partnership Ltd. will continue to deliver exemplary training, community‑based opportunities, and meaningful experiences to those referred to our services. As the organisation grows—both in the range of activities on offer and in the positive impact this has on trainees, their families, and the wider community—our staff teams remain dedicated to seeking out new and exciting opportunities. Lifelong learning remains at the heart of our purpose, driving us to continuously enhance the opportunities available to all trainees.

New Horizons Partnership Ltd. remains firmly committed to promoting the highest possible level of independence for every individual referred to our services. Increased independence enhances quality of life not only for each trainee but also for their families and wider support networks. Every individual is empowered to make their own informed choices—supported by our dedicated staff team—regarding their educational, vocational, social, pastoral and personal wellness pathways, including the pace and timing of each stage of their journey. Each trainee has a tailored Person‑Centred Plan, with goals monitored daily, weekly, and monthly, and reviewed collaboratively with their wider Circle of Support as required.

In conclusion, New Horizons Partnership Ltd. is confident about the future. As an organisation, we will continue to build on the extensive experience we have gained and the strengths that define us. We remain committed to strengthening relationships with families, funders and the wider community, reinforcing the excellent reputation we have established. As WHSCT and broader societal expectations continue to evolve—encouraging a blurring of boundaries between specialist and mainstream services—we recognise the importance of enabling trainees to develop ever‑higher expectations for themselves and their communities. Meeting this challenge will support even greater positive outcomes and further confirm New Horizons Partnership Ltd. as a provider of person‑centred services of excellence.

We remain optimistic and proud: proud of our staff teams, proud of our trainees, and deeply appreciative of the unwavering support shown by our local communities. Demand for our services continues to grow, and our strategic approach ensures that we remain well‑placed to respond. With this direction, New Horizons Partnership Ltd. is confident that it will continue to be the provider of choice in Co. Tyrone for many years to come.

Structure, governance and management

The Charity is a company limited by guarantee w ith charitable status, incorporated on the 2 January 2008, and registered as a charity in Northern Ireland in 2015. The company was established under Memorandum of Association that established the objects and powers of the charitable company and is governed under its Articles of Association. In the event of the winding up of the company each member is required to contribute no more than £5.

NEW HORIZONS PARTNERSHIP LIMITED
TRUSTEES' REPORT REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 4 -

The Trustees', who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:

Eamon McColgan
Bill McIntyre
Eoin McDonald
Patricia McCormack
Carmel McGrenra
Linda McIntyre
Paul Fagan
Sandra Friel
Recruitment and appointment of trustees

The trustees of the charity when elected serve until the next annual general meeting at which they must be re-elected. The management operate a system of internal control designed to provide reasonable assurance, but not absolute assurance against material misstatement or loss. They include the;

- regular consideration by the trustees of progress reports regarding operational activities. These are carried out detailing performance indicator levels such as participant numbers and financial breakdowns. Any deviations from targets are highlighted and contingency actions are implemented;

- delegation of authority and segregation of duties among staff; and

- identification and management of risks to which the charity is exposed.

Statement of Trustees' report responsibilities

The Trustees', who are also the directors of New Horizon Partnerships Limited for the purpose of company law, are responsible for preparing the Trustees' Report Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company Law requires the Trustees' to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Charity and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.

In preparing these financial statements, the Trustees' are required to:

- select suitable accounting policies and then apply them consistently;

- observe the methods and principles in the Charities SORP, 2019 (FRS102);

- make judgements and estimates that are reasonable and prudent;

- state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and

- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in operation.

The Trustees' are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Auditor

In accordance with the company's articles, a resolution proposing that SCC Chartered Accountants Ltd be reappointed as auditor of the company will be put at a General Meeting.

NEW HORIZONS PARTNERSHIP LIMITED
TRUSTEES' REPORT REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 5 -
Audit Exemption

The trustees are of the opinion the company is entitled to exemption from audit in accordance with section 475(2) and section 475(3) of the Companies Act 2006. However, we have chosen to have an audit undertaken as it may be requested in future funding applications.

Small company provisions

This report has been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.

The Trustees' report r eport was approved by the Board of Trustees'.

Eamon McColgan
Patricia McCormack
Trustee
Trustee
1 April 2026
NEW HORIZONS PARTNERSHIP LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE TRUSTEES' OF NEW HORIZONS PARTNERSHIP LIMITED
- 6 -

Opinion

We have audited the financial statements of New Horizons Partnership Limited (the ‘Charity’) for the year ended 31 December 2025 which comprise the statement of financial activities, the balance sheet, the statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

-

give a true and fair view of the state of the charitable company's affairs as at 31 December 2025 and of its incoming resources and application of resources, for the year then ended;

-
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-

have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the Charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the Trustees' report use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Charity’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the Trustees' with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The Trustees' are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion:

-

the information given in the financial statements is inconsistent in any material respect with the Trustees' report; or

-

sufficient accounting records have not been kept; or

-

the financial statements are not in agreement with the accounting records; or

-

we have not received all the information and explanations we require for our audit.

NEW HORIZONS PARTNERSHIP LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE TRUSTEES' OF NEW HORIZONS PARTNERSHIP LIMITED
- 7 -
Responsibilities of Trustees'

As explained more fully in the s tatement of Trustees' report r esponsibilities, the Trustees', who are also the directors of the Charity for the purpose of company law, are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees' determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the Trustees' are responsible for assessing the Charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees' either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Based on our understanding of the charitable company, we identified the principal risks of non-compliance with laws and regulations related to general data protection regulations, and health and safety regulations. We also considered those laws that have a direct impact on the preparation of the financial statements.

We evaluated the committee members incentives and opportunities for fraudulent manipulation of the financial statements. We communicated the identified laws and regulations throughout the audit team and remained alert to any indications of non-compliance throughout the audit. Audit procedures performed by the auditors included, but were not limited to:

• Discussions with management including consideration of known or suspected instances of noncompliance with laws and regulations and fraud;

• Performing analytical procedures to identify any unusual or unexpected relationships that may indicate

risks of material misstatement due to fraud;

• Reading minutes of meetings of those charged with governance;

• In addressing the risk of fraud through management override of controls, testing the appropriateness of

journal entries and other adjustments and assessing whether the judgements made in making accounting

estimates are indicative of management bias.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Use of our report

This report is made solely to the charity’s trustees, as a body, in accordance with part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.

NEW HORIZONS PARTNERSHIP LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE TRUSTEES' OF NEW HORIZONS PARTNERSHIP LIMITED
- 8 -
Sean G. Cavanagh (Senior Statutory Auditor)
for and on behalf of SCC Chartered Accountants Ltd
1 April 2026
Chartered Accountants
Statutory Auditor
1 The Square
Moy
Co. Tyrone
BT71 7SG

SCC Chartered Accountants Ltd is eligible for appointment as auditor of the Charity by virtue of its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006.

NEW HORIZONS PARTNERSHIP LIMITED
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2025
- 9 -
Unrestricted
Restricted
Total
Unrestricted
Restricted
Total
funds
funds
funds
funds
2025
2025
2025
2024
2024
2024
Notes
£
£
£
£
£
£
Income from:
Donations and legacies
3
-
-
-
-
5,500
5,500
Charitable activities
4
83,109
399,209
482,318
99,647
331,097
430,744
Other income
5
17,265
-
17,265
5,857
-
5,857
Total income
100,374
399,209
499,583
105,504
336,597
442,101
Charitable activities
6
108,432
355,993
464,425
219,450
272,466
491,916
Net income/(expenditure) and movement in funds
(8,058)
43,216
35,158
(113,946)
64,131
(49,815)
Reconciliation of funds:
Fund balances at 1 January 2025
298,462
93,629
392,091
412,408
29,498
441,906
Fund balances at 31 December 2025
290,404
136,845
427,249
298,462
93,629
392,091

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

NEW HORIZONS PARTNERSHIP LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2025
31 December 2025
- 10 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
10
20,280
20,837
Current assets
Stocks
11
3,639
3,359
Debtors
12
203,030
258,905
Cash at bank and in hand
221,232
125,482
427,901
387,746
Creditors: amounts falling due within one year
14
20,932
16,492
Net current assets
406,969
371,254
Total assets less current liabilities
427,249
392,091
The funds of the Charity
Restricted income funds
16
136,845
93,629
Unrestricted funds - general
140,404
148,462
Unrestricted funds - Desingated
150,000
150,000
427,249
392,091

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Trustees' on 1 April 2026
Eamon McColgan
Patricia McCormack
Trustee
Trustee
Company registration number NI067640 (Northern Ireland)
NEW HORIZONS PARTNERSHIP LIMITED
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 DECEMBER 2025
- 11 -
2025
2024
Notes
£
£
£
£
Cash flows from operating activities
Cash generated from/(absorbed by) operations
21
98,844
(209,692)
Investing activities
Purchase of tangible fixed assets
(4,061)
(1,076)
Net cash used in investing activities
(4,061)
(1,076)
Financing activities
Repayment of bank loans
967
-
Net cash generated from/(used in) financing activities
967
-
Net increase/(decrease) in cash and cash equivalents
95,750
(210,768)
Cash and cash equivalents at beginning of year
125,482
336,250
Cash and cash equivalents at end of year
221,232
125,482
NEW HORIZONS PARTNERSHIP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
- 12 -
1
Accounting policies
Charity information

New Horizons Partnership Limited is a private company limited by guarantee incorporated in Northern Ireland. The registered office is 45c Derry Road, Strabane, Tyrone, BT82 8DY, Northern Ireland.

1.1
Accounting convention

The financial statements have been prepared in accordance with the Charity's [governing document], the Companies Act 2006, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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)" (effective 1 January 2019). The Charity is a Public Benefit Entity as defined by FRS 102.

The financial statements are prepared in sterling, which is the functional currency of the Charity. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2
Going concern

At the time of approving the financial statements, the Trustees' have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees' continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Charitable funds

The Charity has two types of funds for which it is responsible:

- Unrestricted funds - the unrestricted fund is under the control of the Board of Trustees, to be used in the furtherance of the objectives of the charity.

- Restricted funds - the restricted fund represents donations and grants received where the donor has imposed restrictions on the use of the funds which are legally binding on the Board of Trustees.

Designated funds are unrestricted or restricted funds of the charity which the trustees have decided at their discretion to set aside to use for a specific purpose.

1.4
Income

All incoming resources are included in the statement of financial activities when the charity is entitled to the income and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income:

- Voluntary income is received by way of grants, donations and gifts and is included in full in the statement of financial activities when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy;

- Grants for the purpose of capital expenditure are credited to deferred income when receivable and amortised in line with depreciation;

- Investment income is included when receivable; and

- Incoming resources from charitable trading activities are accounted for when earned.

NEW HORIZONS PARTNERSHIP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 13 -
1.5
Expenditure

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings:

- Costs of charitable activities includes the costs of training programmes delivered, commercial trading and other educational activities undertaken to further the purposes of the charity and their associated support costs; and

- Governance costs represents those items required to audit and report on the charity activities.

1.6
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings
2% straight line
Plant and equipment
20% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

1.7
Impairment of fixed assets

At each reporting end date, the Charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.8
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. Items held for distribution at no or nominal consideration are measured the lower of replacement cost and cost.

Net realisable value is the estimated selling price less all estimated costs of completion and costs to be incurred in marketing, selling and distribution.

1.9
Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

NEW HORIZONS PARTNERSHIP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 14 -
1.10
Financial instruments

The Charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Charity's balance sheet when the Charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future p aymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Charity’s contractual obligations expire or are discharged or cancelled.

1.11
Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the Charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.12
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.13
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

NEW HORIZONS PARTNERSHIP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 15 -
2
Critical accounting estimates and judgements

In the application of the Charity’s accounting policies, the Trustees' are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Key sources of estimation uncertainty
Depreciation charge

The annual depreciation charge is a key accounting estimate and is calculated based on the entity's assessment of useful economic lives for each category of asset and the residual value of fixed assets. These are both reviewed annually and updates are made if required.

3
Income from donations and legacies
Restricted
Restricted
funds
funds
2025
2024
£
£
Donations and gifts
-
5,500
4
Income from charitable activities
Unrestricted
Restricted
Total
Unrestricted
Restricted
Total
funds
funds
funds
funds
2025
2025
2025
2024
2024
2024
£
£
£
£
£
£
WHSCT
-
399,209
399,209
-
331,097
331,097
Facilitation - Donegal Horizons
18,266
18,266
19,131
19,131
Strabane Garden Centre
40,457
-
40,457
38,438
-
38,438
Learning Resources
24,386
24,386
42,078
42,078
83,109
399,209
482,318
99,647
331,097
430,744
NEW HORIZONS PARTNERSHIP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 16 -
5
Other income
Unrestricted
Unrestricted
funds
funds
2025
2024
£
£
Interest receivable
347
4,512
Other income
8,444
1,345
Fundraising events
8,474
-
Other income
17,265
5,857
NEW HORIZONS PARTNERSHIP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 17 -
6
Expenditure on charitable activities
Unrestricted Funds
Restricted Funds
Total
Total
2025
2025
2025
2024
£
£
£
£
Direct costs
Staff costs
-
313,940
313,940
240,527
Depreciation and impairment
4,618
-
4,618
4,910

Sundry expenses

5,006
3,869
8,875
11,567

Telephone and internet

5,585
-
5,585
8,570

Rates

2,232
-
2,232
2,413

Horticultural purchases

18,177
-
18,177
16,453

Insurance

4,547
-
4,547
4,299

Donation - Donegal Horizons

-
-
-
88,239

Light and heat

18,172
-
18,172
19,507

Repairs and maintenance

1,747
-
1,747
1,147

Staff training

1,743
-
1,743
2,900

Rent

34,951
-
34,951
34,951

Other legal and professional costs

9,375
7,770
17,145
17,571

Cleaning

2,670
-
2,670
2,105

Stationery and printing

4,285
-
4,285
7,666

Advertising and promotion

638
-
638
638
Profit or Loss on foreign exchange
(5,740)
(5,740)
2,341
Trainee allowances
-
7,230
7,230
5,680
Staff travel and subsistence
-
4,483
4,483
2,940
Motor expenses
-
1,353
1,353
1,115
Subscriptions
-
1,154
1,154
1,382
Bank charges
-
2,619
2,619
2,065
Temporary staff and recruitment
-
3,142
3,142
4,308
Trainee expenses
426
10,433
10,859
8,622
108,432
355,993
464,425
491,916
Analysis by fund
Unrestricted funds
108,432
-
108,432
219,450
Restricted funds
-
355,993
355,993
272,466
108,432
355,993
464,425
491,916
7
Trustees'
None of the Trustees' (or any persons connected with them) received any remuneration or benefits from the Charity during the year.
NEW HORIZONS PARTNERSHIP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 18 -
8
Employees

The average monthly number of employees during the year was:

2025
2024
Number
Number
13
11
Employment costs
2025
2024
£
£
Wages and salaries
259,811
207,779
Social security costs
31,003
16,431
Other pension costs
23,126
16,316
313,940
240,526
There were no employees whose annual remuneration was more than £60,000.
Remuneration of key management personnel

The remuneration of key management personnel is as follows.

9
Taxation

The charity is exempt from tax ation on its activities because all its income is applied for charitable purposes.

10
Tangible fixed assets
Freehold land and buildings
Plant and equipment
Total
£
£
£
Cost
At 1 January 2025
1,768
88,023
89,791
Additions
-
4,061
4,061
At 31 December 2025
1,768
92,084
93,852
Depreciation and impairment
At 1 January 2025
436
68,518
68,954
Depreciation charged in the year
35
4,583
4,618
At 31 December 2025
471
73,101
73,572
Carrying amount
At 31 December 2025
1,297
18,983
20,280
At 31 December 2024
1,332
19,505
20,837

NEW HORIZONS PARTNERSHIP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 19 -
11
Stocks
2025
2024
£
£
Finished goods and goods for resale
3,639
3,359
12
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
39,743
83,706
Amounts owed by related undertakings
158,723
172,754
Prepayments and accrued income
4,564
2,445
203,030
258,905
13
Loans and overdrafts
2025
2024
£
£
Bank loans
1,667
700
Payable within one year
1,667
700
14
Creditors: amounts falling due within one year
2025
2024
Notes
£
£
Bank loans
13
1,667
700
Other taxation and social security
6,222
5,081
Trade creditors
-
571
Other creditors
1,441
2,145
Accruals
11,602
7,995
20,932
16,492
15
Retirement benefit schemes
Defined contribution schemes

The Charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the Charity in an independently administered fund.

The charge to profit or loss in respect of defined contribution schemes was £23,126 (2024 - £16,316).

NEW HORIZONS PARTNERSHIP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 20 -
16
Restricted funds

The restricted funds of the charity compri se the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be use d.

At 1 January 2025
Incoming resources
Resources expended
At 31 December 2025
£
£
£
£
Fixed asset fund
5,000
-
(5,000)
-
Net asset funds
88,629
399,209
(350,993)
136,845
93,629
399,209
(355,993)
136,845
Previous year:
At 1 January 2024
Incoming resources
Resources expended
At 31 December 2024
£
£
£
£
Fixed asset fund
5,000
-
-
5,000
Net Asset funds
24,498
335,597
(272,465)
87,630
29,498
336,597
(272,466)
93,629

Fixed asset fund

The fixed asset fund is made up of grants received for the purchase of fixed assets.

Net Asset fund

The net asset fund consists of monies receivable at 31 December 2025 and monies held, but not yet spent for restricted purposes. The main funders of the net asset fund are Western Health & Social Care Trust.

17
Unrestricted funds

The unrestricted funds of the charity compri se the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be use d. The se include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

At 1 January 2025
Incoming resources
Resources expended
At 31 December 2025
£
£
£
£
General funds
148,462
100,374
(108,432)
140,404
Designated funds
150,000
-
-
150,000
298,462
100,374
(108,432)
290,404
NEW HORIZONS PARTNERSHIP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
17
Unrestricted funds
(Continued)
- 21 -
Previous year:
At 1 January 2024
Incoming resources
Resources expended
At 31 December 2024
£
£
£
£
General funds
262,408
105,504
(219,450)
148,462
Designated funds
150,000
-
-
150,000
412,408
105,504
(219,450)
298,462
18
Analysis of net assets between funds
Unrestricted
Restricted
Total
funds
funds
2025
2025
2025
£
£
£
Fund balances at 31 December 2025 are represented by:
Tangible assets
20,280
-
20,280
Current assets/(liabilities)
270,124
136,845
406,969
290,404
136,845
427,249
Unrestricted
Restricted
Total
funds
funds
2024
2024
2024
£
£
£
Fund balances at 31 December 2024 are represented by:
Tangible assets
20,837
-
20,837
Current assets/(liabilities)
277,625
93,629
371,254
298,462
93,629
392,091
19
Related party transactions

The company provides goods and services to an associated company Donegal Horizons. The board of trustees contains the same trustees as New Horizons Partnership.

The balance due from Donegal Horizons at 31 December 2025 is £158,723 (2024: £172,754). Donations made to Donegal Horizons in the year totalled £Nil (2024: £88,239).

20
Ultimate controlling party

The company is limited by guarantee and has no share capital. There is no ultimate controlling party. The liability of each member in the event of winding up is limited to £5.

NEW HORIZONS PARTNERSHIP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 22 -
21
Cash generated from operations
2025
2024
£
£
Surplus/(deficit) for the year
35,158
(49,815)
Adjustments for:
Depreciation and impairment of tangible fixed assets
4,618
4,910
Movements in working capital:
(Increase) in stocks
(280)
(537)
Decrease/(increase) in debtors
55,875
(161,861)
Increase/(decrease) in creditors
3,473
(2,388)
Cash generated from/(absorbed by) operations
98,844
(209,691)
22
Analysis of changes in net funds
At 1 January 2025
Cash flows
At 31 December 2025
£
£
£
Cash at bank and in hand
125,482
95,750
221,232
Loans falling due within one year
(700)
(967)
(1,667)
124,782
94,783
219,565
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