School Employer Connections Ltd Charity Accounts

COMPANY REGISTRATION NUMBER: NI044226

CHARITY REGISTRATION NUMBER: NIC101570

School Employer Connections Ltd

Company Limited by Guarantee

Unaudited Financial Statements

31 March 2023

School Employer Connections Ltd

Company Limited by Guarantee

Financial Statements

Year ended 31 March 2023

	Page

Trustees' annual report (incorporating the director's report)	1

Independent examiner's report to the trustees	5

Statement of financial activities (including income and expenditure account)	6

Statement of financial position	7

Statement of cash flows	8

Notes to the financial statements	9

School Employer Connections Ltd

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Director's Report)

Year ended 31 March 2023

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 2023 .

Reference and administrative details

Registered charity name	School Employer Connections Ltd

Charity registration number	NIC101570

Company registration number	NI044226

Principal office and registered	The Innovation Centre
office	Bay Road
	Londonderry
	BT48 7TG
	United Kingdom

The trustees

	Mr R Devine
	Ms K O'Leary
	Mr F B O'Donnell	(Retired 22 June 2022)
	Mr JP Harkin
	Mr P Allen
	Ms M Mulhern	(Retired 30 June 2022)
	Ms D Cartin
	Ms N Griffiths
	Mr P O Mianain	(Appointed 9 November 2022)
	Mr M Patton	(Appointed 9 November 2022)

Independent examiner	Thomas Harkin F.C.C.A. Patrick Durkan & Co
	Office 8 Springrowth House
	Balliniska Road
	Derry
	BT48 0GG

Structure, governance and management

The organisation is a charitable company limited by guarantee, incorporated and registered as a charity on 1 October 2002. The company was established under a Memorandum of Association which established the objects and powers of the charitable company and is governed under its Articles of Association. In the event of the company being wound up members are required to contribute an amount not exceeding £1. The company is recognised by HM Revenue & Customs as having charitable status, reference number XR60928.

The directors of the company are also the charity trustees for the purposes of charity law. Board members are based on having a balance between public, private and voluntary sectors. They are given an induction by the Chairman and Secretary covering the charity's structure and how it operates. The Board meets once every quarter to receive reports from management and deal with strategic and policy matters. The Chairman and the Charity Manager maintain regular contact between Board meetings.

All operational decisions are taken by the Charity Manager, Mr Owen Crozier. Strategic decisions are discussed at board meetings and actions agreed.

The major risks to which the charity is exposed are reviewed at board meetings and actions are agreed to minimise these. The Charity Manager maintains continuous risk monitoring and adapts action plans accordingly.

Risk Management

The Trustees, together with the Charity Manager monitor the charity's system and controls on an ongoing basis. The Trustees are satisfied that the major strategic, business and operational risks which the charity faces have been identified, and controls exist to mitigate those risks.

Objectives and activities

The company's object and principal activity is to:

- Promote the development and enhancement of linkages between the world of education and the world of work in its area of benefit by and in particular:

- Associating the statutory authorities, business sector, educational institutions, community, voluntary organisations and relevant individuals in a common effort to provide careers, employability and work-related learning opportunities for young people of school-going age within the area of benefit.

The charity's aims through all its activities are:

- To raise awareness among students, teachers and parents of career paths in each of our key sectors.

- To provide students, teachers and parents with high quality, up-to-date knowledge and information which will enable good career choices.

- To help young people to envision a positive future for themselves and raise their ambitions.

- To actively promote progression into sectors which are experiencing/forecasting workforce shortages and to discourage progression into areas of workforce superfluity.

Programme Objectives

- Offer a framework of engagement (i.e. programmes) between businesses and Post Primary Schools (a Business -Education Interface) for careers promotion.

- Promote career attractiveness.

- Highlight the technical, workplace or employability skills required.

- Promote pathways & careers progression routes.

- Deliver effective communications (i.e. web and social media presence).

- Link to STEM initiatives and other areas where there are labour shortages.

Address key issues:

- Shift perceptions about career attractiveness. Address & dispel myths.

- Career expectation

- Communicate up to date labour market information.

- Gender imbalance.

- Parental awareness.

- Talent drain.

- Supporting organisations / businesses.

- Commitment from Employers

- Post Primary School receptiveness (e.g. timetables, exams etc).

- Willingness for collaborative working to widen networks.

Outcomes:

- Shift perceptions by career promotion and awareness.

- " Collaboratively address the skills shortages.

- " Build and widen useful networks.

These Outcomes are achieved by delivery across SEC's three programmes:

Face to face and/or virtual:

1. Class Programme

2. Work Experience Programme

3. Website (Careers Hub)

Achievements and performance

The charity delivered on 3 core areas of programme activity during 2022-2023. These activities were largely funded by the 'core funding' provided by agreement with the Department of Education.

1. Face to Face Work Experience Programme: 390 students participated*

2. Virtual Work Experience Programme: 922 students participated*

3. Face to face Class Programme: 0 participants*

4. Virtual Class Programme: 6,636 students participated during 50 talks involving 144 schools*

5. Website: Online Careers Hub: 4,342 Hub visits, 5,429 Hub sessions

The total number of face to face and virtual participants were 7,948 students and 5,429 users who explored our online resources NB In addition, there is a very large number of indirect participants and beneficiaries, particularly teachers, employers and parents.

* Covid-19 disrupted and decimated the 'face to face' service we delivered since 2019 (and to a lesser extent the Education Authority 'Work Experience Regulations 2019').

Financial review

The results for the financial year are set out in detail on pages 7 - 24. School Employer Connections returned a net deccrease in funds for the year of £47,130 (2022: increase £8,429). The total funds available at the year end were £31,148 (2022: £78,278) comprising restricted funds of £110 (2022: £1,680) and unrestricted funds of £31,038 after allowing for loss on write down of fixed assets (2022: £76,598).

School Employer Connections receives a core grant from the Department of Education for Northern Ireland which contributes to its core work as set out in the Trustee's Report. The other principal funding sources for the charity are currently by way of grants and donations. The main funders or donors for the year were:

Seagate Technology

Inner City Trust

Participating Schools

Derry City and Strabane District Council

Wesleyan Community Foundation

The Honourable The Irish Society

Reserves policy

Unrestricted funds are considered to be essential to provide sufficient funds to cover any shortfall in funding and fufil the legal obligations of the Charity in the event that current levels of funding are not maintained.

The reserves policy has been designed in order to recognise SEC's requirements for reserves considering the main risks to the charity. It has established a policy whereby the unrestricted reserves not committed should equate to six months total resources expended. At 31 March 2023 the level of unrestricted "free" reserves excluding fixed assets and designated funds was £31,038 (2021: £66,976) which equates to approximately two months expenditure.

Given the passage of events since 31 March 2023 (see Plans for future periods) the focus of the Trustees, in relation to the reserves policy, has been to ensure that sufficient funds are retained to enable the company to meet its obligations to its employees, creditors, funders and other relevant stakeholders in the event of the cessation of operations by the company.

Plans for future periods

On 3 April 2023 School Employer Connections was advised by its principal funder, the Department for Education for Northern Ireland (DENI), that "in light of the significant budgetary pressures facing the Northern Ireland Block in 2023-24 and in the absence of a final budget allocation to the Department of Education by the Secretary of State, there will be a significant reduction in the budget available." The Department went on to say that it "had to take a number of very difficult decisions at this stage to provide an opening planning position. As discussed with the Team, the Department can offer an allocation of two month's budget cover amounting to £20k during which time we would hope that a final budget position can be reached; however, it is unlikely that any funding will be available thereafter to support existing programmes" It continued that "The Department will confirm the final position when the full budget has been confirmed„.but it is important to note that planning beyond that will not be possible and will be subject to significant financial pressure."

No further funding was forthcoming from the Department for any of the company's programmes after 31 May 2023. The Trustees therefore had no option but to initiate its agreed Exit Strategy and to make immediate preparations for the complete cessation of operations by the company. A key plank of this strategy was to arrange for the termination of the contracts of employment of all staff with effect from 30 June 2023, and to make any statutory notice and redundancy payments due to staff on their termination.

These arrangements were completed successfully at that time, and since then the company has remained available to consider any opportunities for future programmes, should the Department's funding position change as the 2023/24 Budget Year progresses. If there is no change in the Department's funding position by the end of December 2023 then it is expected that the Trustees will commence the formal wind-up of the company in early 2024.

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 20 December 2023 and signed on behalf of the board of trustees by:

Mr R Devine

Trustee

School Employer Connections Ltd

Company Limited by Guarantee

Independent Examiner's Report to the Trustees of School Employer Connections Ltd

Year ended 31 March 2023

I report to the trustees on my examination of the financial statements of School Employer Connections Ltd ('the charity') for the year ended 31 March 2023.

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

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.

Thomas Harkin F.C.C.A. Patrick Durkan & Co

Independent Examiner

Office 8 Springrowth House Balliniska Road Derry BT48 0GG

20 December 2023

School Employer Connections Ltd

Company Limited by Guarantee

Statement of Financial Activities

(including income and expenditure account)

Year ended 31 March 2023

	2023			2022
	Unrestricted funds	Restricted funds	Total funds	Total funds
Note	£	£	£	£

Income and endowments

Donations and Grants	5	14,862	119,932	134,794	153,740
Charitable activities	6	8,000	–	8,000	5,500
		--------	---------	---------	---------
Total income		22,862	119,932	142,794	159,240
		--------	---------	---------	---------

Expenditure

Expenditure on charitable activities	7,8	9,319	168,579	177,898	150,020
Other expenditure	10	1,000	370	1,370	791
		--------	---------	---------	---------
Total expenditure		10,319	168,949	179,268	150,811
		--------	---------	---------	---------

Losses on impairment or disposal of operations			10,656	–

	--------	---------	---------	---------
Net (expenditure)/income	12,543	( 49,017)	( 47,130)	8,429
	--------	---------	---------	---------

Transfers between funds	(47,447)	47,447	–	–

	--------	---------	---------	---------
Net movement in funds	( 34,904)	( 1,570)	( 47,130)	8,429

Reconciliation of funds

Total funds brought forward	76,598	1,680	78,278	69,848
	--------	---------	---------	---------
Total funds carried forward	41,694	110	31,148	78,278
	--------	---------	---------	---------

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

School Employer Connections Ltd

Company Limited by Guarantee

Statement of Financial Position

31 March 2023

	2023		2022
Note	£	£	£

Fixed assets

Tangible fixed assets	15		–	11,301

Current assets

Debtors	16	15,002	13,579
Cash at bank and in hand		57,430	62,190
		--------	--------
		72,432	75,769

Creditors: amounts falling due within one year	17	41,284		8,793
		--------		--------
Net current assets			31,148	66,976
			--------	--------
Total assets less current liabilities			31,148	78,277
			--------	--------
Net assets			31,148	78,277
			--------	--------

Funds of the charity

Restricted funds		110	1,680
Unrestricted funds		31,038	76,598
		--------	--------
Total charity funds	21	31,148	78,278
		--------	--------

For the year ending 31 March 2023 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 20 December 2023 , and are signed on behalf of the board by:

Mr R Devine	Mr P Allen
Trustee	Trustee

School Employer Connections Ltd

Company Limited by Guarantee

Statement of Cash Flows

Year ended 31 March 2023

	2023	2022
	£	£

Cash flows from operating activities

Net (expenditure)/income	(47,130)	8,429

Adjustments for:
Depreciation of tangible fixed assets	3,090	3,990
Government grant income	( 2,096)	( 5,542)
Interest payable and similar charges	302	279
Accrued income	( 1,936)	( 1,227)

Changes in:
Trade and other debtors	( 1,423)	14,517
Trade and other creditors	34,427	2,164
	--------	--------
Cash generated from operations	( 14,766)	22,610

Interest paid	( 302)	( 279)
	--------	--------
Net cash (used in)/from operating activities	( 15,068)	22,331
	--------	--------

Cash flows from investing activities

Purchase of tangible assets	( 2,445)	( 5,675)
Proceeds from sale of tangible assets	10,656	–
	--------	--------
Net cash from/(used in) investing activities	8,211	( 5,675)
	--------	--------

Cash flows from financing activities

Government grant income	2,096	5,542
	--------	--------
Net cash from financing activities	2,096	5,542
	--------	--------

Net (decrease)/increase in cash and cash equivalents	( 4,761)	22,198
Cash and cash equivalents at beginning of year	62,190	39,993
	--------	--------
Cash and cash equivalents at end of year	57,429	62,191
	--------	--------

School Employer Connections Ltd

Company Limited by Guarantee

Notes to the Financial Statements

Year ended 31 March 2023

1. General information

The charity is a private company limited by guarantee and a registered charity in Northern Ireland. The address of the registered office is The Innovation Centre, Bay Road, Londonderry, BT48 7TG, United Kingdom.

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

The Charity was informed by the Department of Education in March 2023 that due to departmental financial pressures it would not continue core funding beyond June 2023. In response to this the trustees took the decision to initiate its agreed Exit Strategy and to make immediate preparations for the complete cessation of operations by the charity. Consequently the Board of Trustees does not consider that the going concern basis of accounting is appropriate and the accounts have been prepared on a break up basis. The fixed assets have been written down to their net recoverable value, and provision has been made for the redundancy payable to the charity's staff.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

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:

Fixtures & Fittings	-	over 10 years
Office Equipment	-	over 5 to 10 years

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.

Government grants

Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the charity will comply with the conditions attaching to them and the grants will be received. Where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.

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.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as an expense in the period in which it arises.

4. Limited by guarantee

The company is limited by guarantee and has no share capital. The liability of each member in the event of winding-up is limited to £1.

5. Donations and grants

Unrestricted Funds	Restricted Funds	Total Funds 2023
£	£	£

Donations

School Donations	12,362	–	12,362
Seagate Technology	–	–	–
Inner City Trust	2,500	–	2,500

Grants

Department of Education	–	109,334	109,334
The Honourable The Irish Society	–	1,163	1,163
Derry & Strabane District Council	–	5,411	5,411
Wesleyan Community Foundation	–	1,928	1,928
Government grant income	–	2,096	2,096
	--------	---------	---------
	14,862	119,932	134,794
	--------	---------	---------

Unrestricted Funds	Restricted Funds	Total Funds 2022
£	£	£

Donations

School Donations	11,020	–	11,020
Seagate Technology	10,000	–	10,000
Inner City Trust	2,500	–	2,500

Grants

Department of Education	–	109,792	109,792
The Honourable The Irish Society	–	–	–
Derry & Strabane District Council	–	9,981	9,981
Wesleyan Community Foundation	–	4,905	4,905
Government grant income	–	5,542	5,542
	--------	---------	---------
	23,520	130,220	153,740
	--------	---------	---------

6. Charitable activities

	Unrestricted Funds	Total Funds 2023	Unrestricted Funds	Total Funds 2022
	£	£	£	£
Services provided under contract	8,000	8,000	5,500	5,500
	-------	-------	-------	-------

The charity has contracted to provide virtual work experience placements.

7. Expenditure on charitable activities by fund type

	Unrestricted Funds	Restricted Funds	Total Funds 2023
	£	£	£
Core Charity Costs	–	159,022	159,022
Support costs	9,319	9,557	18,876
	-------	---------	---------
	9,319	168,579	177,898
	-------	---------	---------

	Unrestricted Funds	Restricted Funds	Total Funds 2022
	£	£	£
Core Charity Costs	–	129,926	129,926
Support costs	8,466	11,627	20,094
	-------	---------	---------
	8,466	141,553	150,020
	-------	---------	---------

8. Expenditure on charitable activities by activity type

	Activities undertaken directly	Support costs	Total funds 2023	Total fund 2022
	£	£	£	£
Core Charity Costs	159,022	13,183	172,205	143,451
Governance costs	–	5,693	5,693	6,569
	---------	--------	---------	---------
	159,022	18,876	177,898	150,020
	---------	--------	---------	---------

9. Support costs-

	Core Charity Costs	Total 2023	Total 2022
	£	£	£
Premises	6,300	6,300	9,157
Communications and IT	176	176	439
General office	5,662	5,662	3,204
Governance costs	5,694	5,694	6,569
Marketing	603	603	317
Travel	441	441	408
	--------	--------	--------
	18,876	18,876	20,094
	--------	--------	--------

10. Other expenditure

	Unrestricted Funds	Restricted Funds	Total Funds 2023
	£	£	£
Sundry expenses	1,000	370	1,370
	-------	----	-------

	Unrestricted Funds	Restricted Funds	Total Funds 2022
	£	£	£
Sundry expenses	8	783	791
	----	----	----

11. Net (expenditure)/income

Net (expenditure)/income is stated after charging/(crediting):

	2023	2022
	£	£
Depreciation of tangible fixed assets	3,090	3,990
	-------	-------

12. Independent examination fees

	2023	2022
	£	£

Fees payable to the independent examiner for:

Independent examination of the financial statements	1,040	1,040
Other assurance services	1,260	1,260
	-------	-------
	2,300	2,300
	-------	-------

13. Staff costs

The total staff costs and employee benefits for the reporting period are analysed as follows:

	2023	2022
	£	£
Wages and salaries	146,254	115,180
Social security costs	3,717	5,032
Employer contributions to pension plans	9,051	9,714
	---------	---------
	159,022	129,926
	---------	---------

The average head count of employees during the year was 6 (2022: 6 ). The average number of full-time equivalent employees during the year is analysed as follows:

	2023	2022
	No.	No.
Number of direct staff	4	4
Number of administrative staff	1	1
Number of management staff	1	1
	----	----
	6	6
	----	----

No employee received employee benefits of more than £60,000 during the year (2022: Nil).

14. Trustee remuneration and expenses

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

In the year ended 31 March 2023 one trustees received reimbursement for expenses paid on behalf of the charity. These expenses were in relation to company secretarial matters. The total amount reimbursed to the trustees was £13.

15. Tangible fixed assets

	Fixtures and fittings	Equipment	Total
	£	£	£
Cost
At 1 April 2022	144	23,775	23,919
Additions	–	2,445	2,445
Disposals	( 144)	( 26,220)	( 26,364)
	----	--------	--------
At 31 March 2023	–	–	–
	----	--------	--------
Depreciation
At 1 April 2022	84	12,534	12,618
Charge for the year	14	3,076	3,090
Disposals	( 98)	( 15,610)	( 15,708)
	----	--------	--------
At 31 March 2023	–	–	–
	----	--------	--------
Carrying amount
At 31 March 2023	–	–	–
	----	--------	--------
At 31 March 2022	60	11,241	11,301
	----	--------	--------

16. Debtors

	2023	2022
	£	£
Prepayments and accrued income	1,296	661
Funding debtors	13,706	12,918
	--------	--------
	15,002	13,579
	--------	--------

17. Creditors: amounts falling due within one year

	2023	2022
	£	£
Accruals and deferred income	2,300	6,164
Social security and other taxes	1,897	2,303
Pension contributions	368	326
Other creditors	36,719	–
	--------	-------
	41,284	8,793
	--------	-------

18. Deferred income

	2023	2022
	£	£
Amount deferred in year	–	1,928
	----	-------

19. Pensions and other post retirement benefits

Defined contribution plans

The amount recognised in income or expenditure as an expense in relation to defined contribution plans was £ 9,051 (2022: £ 9,714 ).

20. Government grants

The amounts recognised in the financial statements for government grants are as follows:

	2023	2022
	£	£

Recognised in income from donations and legacies:

Government grants income	2,096	5,542
	-------	-------

During the year the charity received Government funding under the Job Start Scheme for an employee placement grant totalling £2,096. In the previous year the charity received Government Job Start Scheme grants totalling £5,542.

21. Analysis of charitable funds

Unrestricted funds

	At 1 Apr 2022	Income	Expenditure	Transfers	Gains and losses	At 31 Mar 2023
	£	£	£	£	£	£
General funds	76,598	22,862	(10,319)	(47,447)	(10,656)	31,038
	--------	--------	--------	--------	--------	--------

	At 1 Apr 2021	Income	Expenditure	Transfers	Gains and losses	At 31 Mar 2022
	£	£	£	£	£	£
General funds	67,608	29,020	(8,474)	(11,556)	–	76,598
	--------	--------	-------	--------	----	--------

Restricted funds

	At 1 Apr 2022	Income	Expenditure	Transfers	Gains and losses	At 31 Mar 2023
	£	£	£	£	£	£
Department of Education	–	109,334	(158,709)	49,375	–	–
The Foyle Foundation	1,680	–	(1,680)	–	–	–
Department for Communities - Job Start Scheme	–	2,096	(2,096)	–	–	–
Derry City & Strabane District Council	–	5,411	(5,411)	–	–	–
Wesleyan Communuty Foundation	–	1,928	–	(1,928)	–	–
The Honourable The Irish Society	–	1,163	(1,053)	–	–	110
	-------	---------	---------	--------	----	----
	1,680	119,932	(168,949)	47,447	–	110
	-------	---------	---------	--------	----	----

	At 1 Apr 2021	Income	Expenditure	Transfers	Gains and losses	At 31 Mar 2022
	£	£	£	£	£	£
Department of Education	–	109,792	(123,966)	14,174	–	–
The Foyle Foundation	2,240	–	(560)	–	–	1,680
Department for Communities - Job Start Scheme	–	5,542	(7,648)	2,106	–	–
Derry City & Strabane District Council	–	9,981	(10,162)	181	–	–
Wesleyan Communuty Foundation	–	4,905	–	(4,905)	–	–
The Honourable The Irish Society	–	–	–	–	–	–
	-------	---------	---------	--------	----	-------
	2,240	130,220	(142,336)	11,556	–	1,680
	-------	---------	---------	--------	----	-------

The restricted funds relates to funding for the following projects:

Department of Education Northern Ireland - Core funding for the work of the Charity

The Honourable The Irish Society - grant to purchase PPE Equipment for students.

Foyle Foundation small grants scheme - capital grant for purchase of equipment.

Derry City and Strabane Council - Promotion of Digital, Creative and Financial Technology Sectors to Year 10 pupils.

Department for Communities Job Start Scheme - goverment funding for employee grant.

Wesleyan Community Fund - grant towards website creation for SEC Careers Hub - A One Stop Shop.

The year end balance on the Foyle Foundation restricted fund is in relation to an equipment grant and was released in line with the associated depreciation charge.

22. Analysis of net assets between funds

	Unrestricted Funds	Restricted Funds	Total Funds 2023
	£	£	£
Tangible fixed assets	–	110	110
Current assets	31,038	–	31,038
	--------	----	--------
Net assets	31,038	110	31,148
	--------	----	--------

	Unrestricted Funds	Restricted Funds	Total Funds 2022
	£	£	£
Tangible fixed assets	9,621	1,680	11,301
Current assets	66,976	–	66,976
	--------	-------	--------
Net assets	76,597	1,680	78,277
	--------	-------	--------

23. Analysis of changes in net debt

	At 1 Apr 2022	Cash flows	At 31 Mar 2023
	£	£	£
Cash at bank and in hand	62,190	(4,760)	57,430
	--------	-------	--------