Company Registratlon No. N131418 (Northern Ireland} Reglstered Charlty No. NIC100009 RURAL COMMUNITY NETWORK (NI) (Company Limited by Guarantee) ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
RURAL COMMUNITY NETWORK (NI) COMPANY INFORMATION Trustees Raymond Craig Palsy O'Hanlon Frances Spence (Hon Secretary) Arnold Hatch Nicholas Moore John Waddell (Chairperson) Noell8 Donnell (Vice Chairperson) Rosemary Forde Eimear Monlague Philip O'Kane Karin Eyben Hugh Haslings lan Pallerson Oenise Kelso Liam Campbell Alan Pools Corporato Management Toam Kale Clifford Ioireclofl Kevin Traynor (Finance & HR Manager) Cornpany numb8r N131418 Reglstered offlco 38a Oldlown Street Cookslown Co Tyrone BT80 8EF Audltor David Lyttle + Co Ltd Slalion House 46 Molesworth Street Cookslown Co Tyrone BT80 8PA Bankers Bank of Ireland 32 James Street Cookslown Co Tyrone BT80 8LU Sollcltors PA Duffy & Co 14 Molesworth Street Cookslown Co Tyrone BT80 8NX
RURAL COMMUNITY NETWORK (NI) CONTENTS Page Trustees, report Directors, responsibilities statement Independent examiners report 10 Slalement ol financial activities 11 Balance sheet 12 Notes lo the financial slalemenls 13-22
RURAL COMMUNITY NETWORK (NI) TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2024 The trustees. who are also directors of the charity for the purposes of the Companies Act 2006, submit their Annual Report and the externally independently examined Financial Statements for the year ended 31 March 2024. The trustees have adopted the provisions of the Companies Act 2006 and Accountin9 and Reporting by Charities.. Slalemenl of Recommended Praclioe applicable lo charities preparing their a¢¢ounls in accordance with the Financial Reporting Standard applicablè in the UK and Republic of Ireland (FRS 102 effective 1 January 2015), in preparing the annual report and financial statements of the charity. Trustees Tho Iru¥tees who held office durin9 the year and up lo the dale of signalufe of the flnanclal slalemenls were aa follows.. Raymond Craig Palsy O'Hanlon Frances Spenca {Hon Secrèlaryl Arnold Hatch Nicholas Moore John Waddell (Chairperson) Noellè Donnell (Vice Chairperson) Rosemary Forde Eimear Monlagua Philip O'Kane Karin Eyben Hugh Haslings Ruth Montgomery lan Pallerson Denise Kelso Liam Campbell Alan Pools (Resigned 28 February 2024} Structuro, Governance and Management Rural Community Nefv40rk INI) was sel up in 1991, 8$ a company limited by guarantee consliluted under the Companies Act 2006 and is a registered charity, number XR17297. Rural Community Neork INI) is registered with the Charity Commission for Northern Ireland as a Company Limited by Gu8ranlee, number NIC100009. 11 is governed by a Memorandum and Articles of Association. The principal office of the company is located al 38a Oldtown Street, Cookstown, Co Tyrone, BT80 8EF. The Iruslees of the company are ils director5 for thè purposes of charity law and are ¢olle¢lively referred to 89 Iruslees. The number of trusleeg musl not be less than 5 or more than 23. Rural Community NeOrk {Nl} is managed by voluntary trustees elected every two years and there ar8 also a number of co-opted positions. The elected Iruslees include community represenlalives from each of the six counties in Northern Ireland, affiliate members Irom regional voluntary or9anisalions and one represenlaliva from the slatulory authorities. The co-oplions can be represenlalives from agriculture, disability and cross border sectors. Aftèr each election an induction is held for the Irusleès. Areas considered at the induction include an explanation of the major areas of activity (including the current pro9rammes of workl, guidance on the governance aspects of a trustee's role, an introduction lo the strategic aims over the I0-year period and an examination of the main threats and opportunities facing the charity. The day lo day management of Rural Community eOrk INI) is delegated lo a management team headed by Kale Clifford {Direclorl which reports lo the Board of Tru51ees 6 10 7 limes per year. The Finance and Human Resources sub-commillee oversees major areas of work and reports from the sub-committee are presented al each Board meeting. Written policies and procedures detail the decision making powers which are delegated to the staff and those which are retained by the trustees. The current Finance and Human Resources sub-committee has committed lo working with the Board on an ongoin9 programme of review of policies which are used within the organisalion.
RURAL COMMUNITY NETWORK (NI) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Rlsk management The Iruslees have undertaken a detailed review of the major risks to which the charity is exposed. A major risk is around cash flow and the ability of Rural Community NeOrk {Nl) lo meet payments due lo delays in payments from funders. The trustees have ¢onsidered this risk and have made provision under the Reserves Policy. Systems and procedures have been established lo mitlgale risk identified and strategies are being developed to minimise the impact on the community. should any of the risks malerialise. Background Rural Community NeOrk Is a voluntary mernbership-based organisation supporting rural communities across the region. RCN works with rur81 communities lo address issues relating to poverty, inequality, community, and good relations. RCN adopts a community development approach lo ils work. Areas of work include community development Ifalning, action research. policy analysis, peacebuilding, slraleglc planning, consullalion, mediation and f8cili181ion. OUR VISION is of vibrant, articulaté, inclusive and sustainable rural communities whose contribution is valued across Northern Ireland. OUR MISSION is lo provide an effective volce for, and support to, rural communities, particularly those who are most disadvantaged and excluded. OUR VALUES are sel wilhln the context of community davelopmant whlch Is a long- term value-based process which aims lo address imbalances in power and bring about ¢hanga founded on social justice, equality and inclusion. The values we bring lo our work ar8.. Community Empowerment Social Justice Collective Action WorkinglLearning Together Equality and Anli-di8¢riminalion
RURAL COMMUNITY NETWORK (NI) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Achlevement3 and Performance The external independent examination of Rural Community Nelmork accounts presented in this report comprise ils results for the year ended 31 March 2024, detailed on page 11. Key achievements under each Strategic Aim are listed below. RCN Continues lo be in a consortium with NICVA. CENI and C03 in the extenslon period of the Generic strand of the Regional Inlraslruclurè Support Programme (RISPI funded throu9h DAERA and Dfc lo deliver key services lo Community and voluntary sector groups throughout Northern Sreland with a strong rural presence. RCN currently uses the RISP funding lo part support a Director's post, a Policy and Public Affairs post. Community Learning and Skills post and a Finance and HR post. In addition. currently there ara three staff employed part funded through a Community Relations Council Core funded programme. We have secured funding through Dormant Accounts (Asselsl lo support the internal operation of the organisalion following to support the modernisalion of the organisation. We have also secured National Lollery Heritage Funding for a project worker to support the slrengthgning of community groups who are embarking on Heritage related projects. We have secured significant contract and lender opportunities lo undertake work in relation lo poverty research, facililalion, housing, digi181 inclusion, education, and pea¢ebuilding. Th8 following report gives 8 snapshot of the achievements ol Rural Community Neork during the reporting period under our 4 strategic aims lo illuslrale how w6 are meeting our largels across th8 aims and obleclivès of our strategic plan. The Strategic Plan's other aim is GonGerned with internal systems and resourcing and is not r8POrted on in this document. Koy flgures from thls yoar for RCN Actlvltlos: Representation on 29 Nl wlde commillees including.. Developing Governance working group Draft framework for Rural Development post Brexit Human Rights Consortium Brexit working group Ad Hoc Group for North South. East Wesl co-operation LGBTQ+ Strategy group convened by Ofc Anli-povety Strategy convened by DIC Emergency Cost of living Crisis Leadership 9roup convened by DFC Sir George Quigley Trust Business in tho Community Dig1181 Snclusion group Common Good Iwilh Irish School of Ecumenicsl 200+ Zoom sessions hosted - in person training has bègun agaSn. 158 Programmes l Traininglworkshop session organised 101 Training session$ for groups 1943 No ol people allendinglreached by our progiammes 115 Meetings facililaled 65 groups attended Impact support training sessions 12 Consullalion responses including ongoing policy representation on rur81 i55ues 5000+ Facebook likes 3000+ Twiiier followerslreeÈls 4 Blogs written on issues impacting rural life 10 Rural Brief newsletter editions 4 Policy link publications 6 Beyond Belfast peace and Good Relations, Praclilioners support sassions
RURAL COMMUNITY NETWORK (NI) TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Aim1 Em owerin the Volce of Rural Communities Health Sector transformatlon; C and V sector group dealing with the issues facing the sector and Ihe health setviGe in relation lo health service reform in Nl. Understanding the link beMeen community development, pr8venlion and intervention work at community level 8nd the effects of the social délerminanls of health on the demand for services across th8 re9ion. Charity Sector Support.. Supporting groups with issues th81 impact on them across the region such as.. access lo banking facilities, governance, regulation, and digital inclusion. Also, significant work lo allow post-covid operating support with changes lo conslilulions with groups including online access for members and meetings, and funding deadline and delivery changes because of the pandemic and recovery. Representatlon and volca.. Meetings with Secretary of Slate, EU Commission, Irish Government and UK Government and Departments MLAS on issues such 8S the Piolocol, rural social housing, rural development replacement funding and funding strategies, Rural Needs Impact Assessment issues, Brexit, and budget issues. Ad Hoc group- RCN is part of the group supporting North South and East Wesl relations lo talk about the impact of Brexit, protocol, funding for 811 island projects and support for groups and individuals in border re9ions. Maintaining and sustaining support lor neorkIng connecting on an East West basis loo. Rural Rasldent8' Forum supporting the Forum lo raise ils voice on issues which impact rural tenants through Pfesenlalions lo raise awareness of Rural New Build Social Housing largel8, Homelessness In rural areas, community wealth building, Rural Neods Act. ConsultatSon8 hosted end responded lo are detailed on our website. Alm 2: Promotln ortln and celebratln communlt develo ment ractlca In rural ¢ommunltle 21 Individuals have completed the NUI Galway Diploma in Community Development Pra¢li¢e and are due 10 graduate in November 2023 Tiaining for groups and individuals in.. Leadership, media, Understanding the Rural Needs Act, CD practice and Principles, lobbying, meeting management and group work skills, $u¢¢e5sion planning, financial management. board management. Series ol Zoom webinars for members on.. Succession planning. Building Back Better? Assembly Explained,. Rural Suslainabilily Issues.. Rural Dig11al Exclusion, The Bill of Rights., Community Developmenl principles and values.. A wide range of other meetings lo promote rural living in Northern Ireland with NIO. Party le8d8rs, broadband companies. media. environmental groups, and rural support neOrkS. Community Leadership into the West- funded by National Lollery Community Fund with Fermanagh Trust and Holywell Tfust to revive training and support in Community development and leadership in the rural West. Social Value Engine RCN continued lo support Imp8¢1 pr8¢1ice within tha sector in an 8¢¢essible end affordable way. We have invested in a toolkit which helps to measure the social relurnl Impact of the work of our member groups in the communlties they serve.
RURAL COMMUNITY NETWORK (NI) TRUSTEES. REPORT {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Alm 3: Activel workin towards an e uitable and eaceful socie Beyond Belfast praclilioners support group - RCN ran 5 support meetings for praclilioners who are largely working in isolation in their communities during the COVID pandemic, including 8 SUPPOrt residential for reflective practice. Good Frlday Agrooment,. RCN contributed to a number of key strategic events across Nl to commemorate 25year of the Good Friday agreement including events run by Corrymeela, UK Govarnmenl, Irish Government. and the Hume Foundation. Tralnlng and Edueatlon: Organised a series of programmes including Shared History, Upstanding Byslanding, Understanding the Good Friday Agreemènt, Understandin9 the Windsor flamework Strateglc peacebulldlng Continue lo engage with Dfc, PSNI DOJ, TEO and CRC on issues ol rural peacebuilding and issues ol racism and sectarianism. Soclal strategle¥ by DFC.. Contribulion lo the ¢04lesign groups set up for the on LG8TQ+ rights and the Anti- poverty strategy. Provided input to the responses on Oisability and children's poverty issues from 8 rural perspective. Doveloplng womon In the ¢ommunlty -part of the advisory panel on how that Investment can be best made in Nl. Alm 4: Su ortln rural communltlos to reall¥0 thelr otènllal and ambltlons NetworkSng opportunltles for practitioners and group lo support wellbeing end support for their ¢ommunitias in post covid recovery. Supported the communlty and falth sector through a series of webinars and online Iralning Including social media, Twitter, Inslagram & Canva,. Fundraising, Grants and Foundations, Funding Applications.. Lobbying & Campaigning., Succession Planning,. Return lo Work Premises., Facilitating Eff8cIIv8 Meètings., and Fundraising for Schools & PTAS. So¢lal Valu0 Englno -Training 58ssions delivered on Outcomes Measurement and Theory of Change. RCN Memborghlp Survoy on their issue5 and needs at this lime and found that very many of our groups are acting and responding lo the eosl-ol-living ¢risis, bul many are worried about Ihelr future sustainability. Affordable, reliab18 digital conneclivily lor rural re9ions is an ongoing 155ue. Looklng Back to Go foThYard Report - A report looking at the effectiveness and impact ol leader funding in lh8 region as a tool for Rural Dovelopment. This report explored a series of recommendations lo inform DAERA and our membership of what needs lo be ellended lo In future workslre8ms.
RURAL COMMUNITY NETWORK (NI) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 As we move into the year ahead. we have planned lo pay attention lo the following elements of our work.. Future Work 202412026 Th6 context of the period 2024-2025 is one of huge change and uncertainty. At the time of writing the Slomiont Executive has been stood down. theré are on90ing challenges resulting from Brexit. war in Ukrain8 has resulted in huge uncertainly including an influx of people fleeing war who need to be housed and supported, global food and fuel prioe hikes. Among this, the community and voluntary sector continues to provide support. sanctuary, and services lo local and global communities. As an infraslruclure support organisalion, il is our role lo support those who ar8 responding in their communitl8s. We will do so under our existing slrale9ic aims. Our role in the coming year will bé lo re-develop our strategic plan lo ensure we ar& relevant and resourceful in responding lo the changing nééds in our communities. This will lake lime and resource and will require strong engagèment with our membership. Loss of key staff in the current and new financial year will see us have lo make changes lo our operating environmènt and will require significant investment lo pul new practices and procedures in place. We will continue to work under our existing plan and will deliver on our aims as follows,,
RURAL COMMUNITY NETWORK (NI) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Stratoglc Alm 1: Empowerlng the Volco of Rural Communltles As we move out of EU funding streams in Nl there is a need lo examine how Rural Development will be resourced and programmes designed and managed lo fit with DAERA new strategic framework. RCN will work with the department lo ensure good representation in this process. As we emerge through Brexit RCN will continue lo ensure support to sustain and grow relationships NS and EW. RCN will work lo support, challenge, and ensure the articulation of the voice of member group5. Supporting al least 100 member groups lo address and articulate their views on consullalion$, through political engagement, and through work which highlights both need and best practice in rural davelcpmenl activity. Strateglc Alm 2.. PromotSng, 8UPPOrtSng and colobratlng communlty devalopmènt practlce In rural communltl¢¥ RCN will lake up to 20 students thought the Diploma in Community development Practice in this period We will continue to provide high quality training and support lo groups in relation lo community development pr8clic8 and principlas. We will nehvork groups lo provide opportunities for reflection and learning and joint Icollaboralive working. Strateglc Alm 3: ActSvely worklng towards on equltable and poaceful soclety We will support up to 15 Rur81 peace praclilioners in the Beyond Belfast Practitionérs forum. We will continue lo engaga with and represent the views of the se¢lor al government tables especially in relation lo the cosl-of-living crisis. We will continue to seek investment and support for rural peacebuilding across the region and engage with our membership in relation lo sustaining peace in our communities. RCN will conlinu81o input Into the 4 Social Strategies as they are developed Ihiough Government departments. We will work with domestic, national, and international governments lo support peacebuilding in this region. Stratoglc Alm 4: Supportlng rural communlt188 to reallso thelr potentlal and ambStlon8 Worklng with groups and communities lo address challenges of service provlsion, 8cceJs lo resources and investment especially as austerity continues. Support lo group lo embark on Digital technology uptake and investment int IheSr communities. Supportin9 communities lo embark on research and be more Ouard looking lo other regions to share learning and practice with them. Supporting the Rur81 Resident's Forum through monthly meetings lo continu810 input the voice of tenants lo NIHE and government departments. Strateglc Alm 5: Daveloplng Staff 8yStérn8 and resaurcea, ensurlng contlnuous Improvemènt and developmont of RCN 8ervl¢e8 Development of a new $lralegic plan and action plan Membership surveys and membership check in processes to ènsure we are doing what is needad in the most effective and timely manner. Internal upgradè of cèntral monitoring systems. including a CRM system Review of finance systems and upgrade of reporting systems. Investment in staff training and development Investment in the office layout and facilitie5 to make the working environment more responsive to staff luser needs.
RURAL COMMUNITY NETWORK (NI) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Flnanclal Revlew For the year. income is £558,726 12023.. £453.2341, an increase of £105,492 coming from funding received. Expenditure has increased on last year by £71,214. The Trustees of RCN have mel with our appointed Independent Examiner to discuss the surplus in last year's accounts and are aware of thé implications for the organisation. The Trustees ol RCN acknowledg8 and understand the current financial situation and are confident of the performanc8 of the organisation for the coming 12 month period bul will keep a watching brief on the accounts in these austere limes. Rural Community Neork INI) receives funding from a lange ol government and charitable organisalions and discharges these funds in pursuit ol ils charitab16 objectives and the particular programme fundin9 largels. ReseNe8 Pollcy Rural Community Netsvork INI) has a Reserves Policy which details why reseNes are held and the level of reserves appropriate for the charity. The Irusl88s review the level of free reserves requir8d (that Is those funds not lied up in fixed assets, designated and restri¢t8d funds) on an annual basis to ensur8 continuity of charitable operations. In the évént of Rural Community Neork INI) being wound up thera is a18gal requirement lo store documentation for sevèn years and thè associated costs would need to be met from ieseNe3. The actual frea ras888 8131 March 2024 are £204,623. Oesignated feserves for other purposes are detailed in note 18. A cash flow fund is held to bridge gny potential Shortfall in fundraising largels 8nd lo underpin viable programmes that are experiencing cash Ilow problems. A staffing fund is held to enablè Rural Community Nehvork INI) to cover sickne55, maternity and meèt redundancy costs. A development fund is held lo facililale the development of new programm85 and to provide fof reslrucliifing of existing activities. A capital fund exists lo hold funds ieceived for the purchase of fixed assets. Funds held a8 ¢U8todlan tru8t9è8 on behalf ol other8 Th8 charity holds no funds as custodian tru51eas on behalf ol others. Statom¢nt of d18closure to Indèpendont Examlner So far as each person who was a director al the date of approving this feport Is aware. there is no relevant information of which the company's Independent Examiner is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to makè themselves aware of all relevant inlormalion and lo establish that the company's Independent Examiner is aware ol that information. This report has been prepared in accordance With (he provisions applicable to companie5 entitled to the small companies exemption. On behall of the board John Waddell (Chairperson) Dlrector 18 December 2024
RURAL COMMUNITY NETWORK (NI) DIRECTORS, RESPONSIBILITIES STATEMENT FOR THE YEAR ENDED 31 MARCH 2024 The Iruslees Iwho are also direclois of Rural Community Neork INI) foi the purposes of company lawl are responsible for preparing the annual report and the financial slalemenls in accordance with applicable law and regulations. Company law requires the directors to prepare financial slalemenls for each financial year. Under th8118W the directors have elected lo prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable lawl. Under company law the directors musl not approve the financial slalemenls unless they are satisfied that Ih8y 9iv8 a true and fair view of the slate of affairs of the company and of the surplus or deficit of the company for that period. In preparing these financial slalements. the directors are required lo.. select suitable 8¢¢ounling policies and then apply them consl$lenlly', observe the methods and principles in the Charities SORP., make judgemanls and accounting eslimales that are reasonabl8 and prudent., slate whether applicable UK Accounting Standards have bèen followed, subject to any material departures disclosed and explained in the Financial Slalemenls.. and prepare the financial statements on the going concern basis unless il is inappropriate lo presume that the company will continue in busin8SS. Th8 Iruslees are responsible for keeping adequate accounting records that are sufficient to show and explain the company's Iran5aclions and disclose with reasonablo accuracy al any time the financial position of the company and enable them to ensure that the financial slalemenls comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the ¢harilab18 company and hence for taking reasonablè steps for th8 prevention and detection of fraud and other irr8gulariti88. On behalf of the board John Waddell <Chairpersonl Dlrgctor 18 December 2024
RURAL COMMUNITY NETWORK (NI) INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF RURAL COMMUNITY NETWORK (NI) FOR THE YEAR ENDED 31 MARCH 2021 Indèpendent Examlners Report to the Trustees of Rural Communlty Network INI} I report on the a¢¢ounls ol th6 charity for the year ended 31 March 2024. which are sel out on pages 1110 22. Re8PeCtlve responslbllltles of dlrgctors and exarnlner As the charity's Trustees. you are fesponsible for the prep8ralion of the accounts In accordance wllh the Charities Act (Northern Ireland) 2008. 11 is my responsibility to.. éxamine the accounts under section 65 of the Charities Act follow the prOdureS laid down in the general directions given by the Commission under section 65191 Ibl of the Charities Act slate whether particular mallers have come lo my attention. Bas1• of Indopendent examlner's report I have examined your charity accounls 8$ réquired under section 65 of the Charitiés Act and my examination was carried out in accordance with the g8neral directions given by the Charity Commisslon for Northefn Ireland under seelion 6519llbl ol the Charities Act. My examlnalion included a rèvlew of the accounting records kept by the charity and a comparison ol the accounts presented with th058 records. 118lso included consideration of 8ny unusual items or disclosures in the accounts, and seekin9 explanations from you 8s charity Trustees concerning any such malters. My rola is to state whether any material matters have come lo my allenlion glving m8 cause lo bellev6'. 1. That accounting records were not kept in accordance with section 63 of the Chaiille3 Act. 2. That the accounts do not accord with those accounting records. 3. That the accounts do not comply with the accounting requirements of the Charities Act. 4. That there is further information needed for a proper understandin9 of the accoun13 to ba reached. Indopondent examlnor's Stat¢mont I have completed my axaminalion and have no concerns in respect of the matters111 to141 listed above and, Sn connection with following the Dire¢lions of the Charity Commlssion for Northern Ireland, I have found no matter5 that require drawing lo your allenlion. Erlca Convery for and on bohall of Davld Lyttlo + Co Ltd 18 December 2024 Chartered Accountant• & Reglsterod Audltors Slalion House 46 Molesworth Street Cookstown Co Tyrone BT80 8PA io
RURAL COMMUNITY NETWORK {NI) STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITUREACCOUNT) FOR THE YEAR ENDED 31 MARCH 2024 Notes Unrostrlctod Restrlcted funds funds 2024 Total 2023 Total Incomlng resources from g¢noratod funds Voluntary incoma 1,400 169,681 171,081 173,312 Investment income 442 442 45 Incomlng resources from ¢harltablè actlvltlo• Chafilable projacls Sncome 64,404 283,377 347,781 244,854 Other Incoming resources 39,422 39,422 35,223 Total In¢omlng resources 105,668 453,058 558,726 453.234 Resources expended Charitablè activities Governance costs 24.273 3,250 449,611 473.884 3,250 402.842 3,076 Total resourc•8 oxpondgd 27.523 449,611 477,134 405,920 Net Incomlngl{outgolng) resourcos 78,145 3,447 81,592 47,314 Total funds brought forward at 1 April 2023 Tr8nsler-Rural Health 625,980 {5.000) 68,021 5.000 894.001 848.887 Total fund8 carrlod forward at 31 March 2024 699,125 76.468 775,593 e94,001 The slalement of financial activities has been prepared on the basis that all operations are continuing operations, There are no recognised gains and losses other than those passing through the slalement of financial aclivilies. 11
RURAL COMMUNITY NETWORK (NI) BALANCE SHEET ASAT31 MARCH 2024 2024 2023 Notes Flxed assets Tangibla assets 12 296,281 303,060 Current asset8 Debtors Cash 81 bank and in hand 13 63,729 418,565 47,380 346,723 482,294 394,103 Credltors: amounts falllng due wlthln ong year 15 {2,982} 13.1621 Nèt current assets 479,312 390,941 Total assets less ¢urrant Ilabllltle8 775,593 694,001 Tho fund8 of the ¢harlty Restrlcted Income funds Unrestrlctod Incomo fund8 General funds Designated funds 17 17 76,468 68,021 204,622 494,503 253.055 372.925 Totsl unrostrlcted Incomo funds 699,125 825,980 Total charlty fund• 775,593 694,001 For the financial year ended 31 March 2024 the company was enlilled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The Trustees acknowledgo their responsibilities for complying with the requirements of the Act with respe¢t to a¢counling records and the prep8r81ion of financial slalemenls. The members have not required the company lo obtain an audit ol its financial slalemenls for the year in question in accordance with section 476. These financial statements have been prepared In accordance with the provisions 8pplicabla to companies subject lo the small companies regime. The financial slalemenls were approved by the Board of Trustees and aulhorised for issue on 18 December 2024 and are signed on its behalf by.. John Waddell (Chairperson) Company Reglstratlon No. N131418 12
RURAL COMMUNITY NETWORK (NI) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accounting pollcles Company Informatlon Rural Community Neork {Nl) is a private company limited by guarantee incorporated in Northern Ireland. The registered office is 38a Oldlown Slfe81, Cookslown, Co Tyrone, BT80 8EF. 1.1 Accountlng conventlon The financial slalemenls hav8 been pr8pared in accordance with Accounting and Reporting by Charities.. Slalement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 effective 1 January 20151 Icharilie5 SORP {FRS 102}}, the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 and the Companies Act 2006. Rural Community NeOrk {Nll meets the definition of a public bénéfit entity under FRS 102. Assets and liabilities are initially recognised al historical cost and transaction value unless othemise slated in th8 ralèvant accountancy policy nolelsl. The financial slalemenls are prepared on a going concern basis. The financial slalemenls are prepared in slerlin9, which is th8 functional cufr8ncy of the company. Monglery amounts in these financial slalemenls are Ioundèd lo th6 nearèst £. 1.2 Incorne and expondSture All incoming resources are included in the Slalémenl of Financial Aclivilles when the ¢h8rity 59 legally enlilled lo the income and the amount can be quantified with reasonable accuracy. Voluntary Incomo Voluntary income is r8c8ived by way of grants, donations and gifts and Is included in full in the Statement of Financial Activities when the charity is legally enlilled to income and the amount can be quantified with reasonable g¢cura¢y. Investmont Incomo - Investment income relg1e¥ to bank inlgresl receivable. Charltablè projects Income Charitable projects Income is received by way ol grants and Is included in the Slalemenl of Financial Aclivities when the charity is legally ènlilled lo the income and can be quantified with reasonable accuracy. Other Incomlng rosour¢os Financial Activities when due. Fees and other income are included in full in the Statement of Grants Grants for the purpose ol capital expenditure are Cfediled lo restricted incomin9 resources when receivable and Ifansferred lo unreslrioted funds on purchase of the asset. Revenue grants are credited lo incoming resources on the earlier dale of when they are received. unless they relate lo specified fvlure period in which case they are deferred. 13-
RURAL COMMUNITY NETWORK {NI) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accountlng pollcles (Contlnued) All expenditure Gomprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both ¢osts that can be allocated directly lo such activities and thos8 costs of an indirect nature necessary lo supply them. Support costs are allocated lo their relevant actlvlty based on the number of staff on the project. Charltablo actlvltles and grants pald . Charitable expenditure comprises those Costs incurfed by the ¢harily in the delivery of ils activities and services for ils beneficiaries. It include5 both costs that can be allocated directly lo such activities and those costs of an indirect nature ne¢èssary lo supply them. Support costs ere 8llocaled lo their relevant activity based on the number of staff on the project. Governance costs Governance costs include those incurred in the governance of ils assets which are associated with conslilulional and slalulory requirements. Penslon costs The charity operates a defined contribution scheme for employees, Conlfibulions are charged lo th8 Slalemenl of Financial Activities in the period to which they relale. Operatlng leases Rentals applicable to operallng leases are charged to the Statemant ol Flnancial Activities on 8 slraighl line basis over the lease terms. Fund accountlng The charity h8$ various types of fund for whi¢h it Ss responsible and whlch require specific disclosures. A definition ol the various type5 of funds is as follows.. General fvnds are unreslricled funds whlch are available for use at the discretion of the Iruslees for lurtheranca of the general objectives of tha charity and whlch h8V8 not been designated for other purposes. Designated funds comprise unreslricled funds that have been sel aside by the trustees for particular purposes. Thè aim and use of each designated fund is sel out in the notes lo the financial slalemenls. Reslricled funds ar& lunds whlch are lo be used in accordance with specific reslriclions imposed by donors or which have been raised by the charity for particular purpos8$. 1.3 Tanglble flxod assets Tangible fixed assets are initially measured al c05t and subsequently measured al cost or valuation, nel of depreciation and any impairment losses. Depreciallon is recognised so as lo wiile off the Cost or valuation of a$$el$ less their residual values over Ihelr useful lives on the following bases: Freehold land and buildings Leasehold land and buildings Fixtures and fittings Computers not depreciated 29/0 slfaighl line 100/0 slraighl line 33.3010 slraighl line The gain or Ioss 8rising on the disposal of an asset is determined as tha diffarenea beeen the sale proceeds and the carrying valua ol the asset, and is credited or charged to surplus or deficit. 1.4 Impalmiont of fixèd assets Al each reporting period end dale, the company reviews the carrying amounts of ils tangible assets lo delemiine whether there is any indication that those assets have suffered an impairment loss. If any such indication exi5t5. the recoverable amount of the asset is estimated in order to delemiine the extent of the impaimienl loss lif any). Vvhere it is not possible to eslirnale the recoverable amount of an individual asset, the company estimates the recoverable amount of the ca5h-generating unit to which the asset belongs. 14-
RURAL COMMUNITY NETWORK (NI) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accountlng pollcles Icontlnuedl Recoverable amount is the higher of fair valueless costs lo sell and value in use. In assessing value in use, the eslimaled future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the lime value of money and the risks specific lo the asset for which the estimates of futurè cash flows have not been adjusted. If the recoverable amount of an asset lor cashenerating unil) is eslimaled lo b8 less than Ils carrying amount, Ih8 carrying amount of the asset lor cash%eneraling unil} is reduced lo ils recoverable amount. An impairment loss is recognised immediately in surplus or defieit, unless the relevant asset is carried 81 a revalued amount. in which case the impairment loss is tf8aled as a r&valualion decrease. Recognised impairment10sses ar8 reversed if, and only if, the re8sons for thè impairmént loss have ceased lo apply. Where an impairment loss subsequently reverses, the carrying amount of the asset lor Cash- generating unill is increased lo thé revised estimate ol ils iecoverable amount. but so that thè Increased carrying amount does not exceed th8 carrying amount that would have been determined had no impalrmenl loss been recogni5ed for the ass81 lor cash-geneialing unill in prior years. A reversal of an impairm8nl loss is reco9nised imm6diately in surplus or deficit, unless the felevanl asset is carried at a revalued 8mount, in which case the revers81 of the impairment loss is treated as 8 revaluation increase. 1.6 Cash and cash Équlval8nt8 Cash and cash equivalents are basic financlal assets and include cash in hand, deposits held et ¢811 with bank5. other short-lerm liquid investments with original malurilies of three months or less. and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. 1.6 Flnanclal Instruments The company has elected to apply th8 provisions of Section 11 'Basic Financial Instruments, and Section 12 'Olh8r Financial Instruments Issues, of FRS 102 to all of ils financial inslrumenls. Financial instruments are recognised in the company's balance Sheet when thè company becomas paty to the ¢onlraclual provisions of the inslrumenl. Financial assets and liabilities are offset, with the nel amounts presentèd in th8 financial slalemenls, when Ih¢r8 is a leg811y enforceable right lo set off the rgcognised amounts and there is an intention lo settle on e nel basis or lo realise the asset 8nd s8tt18 the liability simultaneously. Baslc flnanclal assets Basic financial assets, which Include debtors an¢J Cash and bank balances, are initially measured at transaction price including transaction costs and are subsequèntly carried al 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 81 a market rat8 of interest. Financial assets classified as receivable within one year are not amortised. Classlllcatlon ol flnanclal Ilabllltles Financial liabilities and equity instruments are ¢la$sified according lo the substance of the ¢onlra¢lual arrangements entered into. An equity instrument Is any contract that evidences a residual interest in the assets of the company after deducting all of ils liabilities. 15-
RURAL COMMUNITY NETWORK (NI) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accountlng pollcleg Icontlnuedl 8asl¢ financlal Ilabllltles Basic financial liabilities, including creditors, bank loans, loans from fellow group companSes and preference shares that are classified as debt. are initially recognised al Iransaclion price unless the arrangement conslilules a financing Iransaclion, where the debt instrument is measured al the present value of the future payments discounted al a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments ar8 subsequently carried at amort15ed cost. using the effective Snleresl rala method. Trade creditors are obligations lo pay for goods or services that hav& been acquired in the ordinary course of business from suppliers. Amounts payable are classified as Current liabilities if payment is due within one year or less. 11 not, they ar8 presented as non-current liabilities. Tradè creditors are recognised initially at transaction price Énd subsequently measured al amortised cost using the effective interest method. Changes in the fair value of derivatives that ere designated and qualify as fair value hedges are recognised in profil or loss immediately, together with any changes in the lair value ol the hedgèd asset or liability that ara allribulable lo thé hedged risk. Voluntary Income Unrestrlcted fund8 Restrlcted funds 2024 Total 2023 Total DAERAI DFC Membership fees 189,681 169,681 1,400 171.812 1,500 1,400 1,400 169,681 171,081 173,312 Invo•tmont Incomo Unrostrlcted funds Re$trlcted funds 2024 Total 2023 Total Interest receivable and similar Incom8 442 442 45 442 442 45
RURAL COMMUNITY NETWORK (NI) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Charltable projects Income Unrestrlctod funds Restricted funds 2024 Totsl 2023 Total Total charltablo trusts and other bodles Community Relations Council Halifax Community Grants Programme National Lottéry Heritage Fund National Lottery Heritage Fund - Shared History CFNI New Needs Fund So¢ial Valu8 Engine Dfc DCDP- Ballymoney Into the Wesl DCDP- Cookstown Dormant Accounts Fund Nl National Lottery Heritage Fund - Hearth Project Dfc DCDP- Lurgan 65.254 65,254 59,886 500 85,383 55,114 88 8,850 3,450 42,850 31,401 16,331 60,039 55,114 88 8,850 3,450 42,850 31,401 16,331 60,039 10,000 29,505 60,000 Total charltable trusts and other bodlos 283,377 283,377 225,054 Fee Income 64,404 64.404 19.600 64,404 283,377 347,781 244,654 Fog Incomo Unrestrlctad fund8 R08trleted funds 2024 Total 2023 Total Fee income 84,404 64,404 19.600 Other In¢omSng resource8 Unr••trlctod funds Restrlcted funds 2024 Total 2023 Total Miseellaneous income Meeting incomè NIHE 1,160 262 38,000 1.160 262 38.000 223 35,000 39,422 39.422 35.223 17
RURAL COMMUNITY NETWORK (NI) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Charltable proJect8 Unre¥trlct¢d fundi Restrl¢ted fund$ 2024 Total 2023 Totsl Co$1 of general projects 24.273 449,611 473,884 402,842 Governance costs Unr¢¥trlctèd funds Rèstrlcted funds 2024 Total 2023 Total Professional fees and board expenses 3.250 3,250 3.078 Nat movoment In fund8 2024 2023 Nel movement in funds 15 Stated after charging.. Staff costs (Note 111 Depreciation 266,670 8,779 266,670 7.379 10 Tru8tees' remun8ratlon The Trustees neither received nor waived any emoluments during the year12023'. £nil). 18
RURAL COMMUNITY NETWORK (NI) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 11 Taxatlon The company is a registered charity, and 8$ such is entitled to certain tax exemption5 on income and profits from investments and surpluses on any trading activities carried on in furtherance of the charity's primary objectives il these profits and surpluses ere applied for charitable purposes. Th8 charity is not regist8red for VAT and accordingly, all ils expendiltjre is recorded inclusive of any VAT incurred. 12 Tanglble f5xed assets Land and Plant and bulldlng8 machlnery etc Total Cost At 1 April 2023 and 31 March 2024 450,531 39,871 490,402 Depreclatlon and Impalrment At 1 April 2023 Depreciation charged In the year 147,224 7,028 40,118 12471 187,342 6,779 Al 31 M8r¢h 2024 153,382 40,740 194,122 Carrylng amount Al 31 March 2024 296,281 298,281 At 31 March 2023 303,307 12471 303,060 13 Dobtorn 2024 2023 Amount8 fallSng duo wlthln ono yoar: Service charges due Prepayments and 8rKrued income 17,855 46,074 5,445 41,932 63,729 47.377 14 Membèr8. IlabllSty The ¢ompany is limited by guarantee, not havin9 a share capital and Consequently the liability of members is limited, subjeel lo an undertaking by each member to contribute lo the net assets or liabilities of the company on winding up such amounts as may be required not exceeding £1. 15 Creditors: amounts falllng duo wlthln ona year 2024 2023 Accruals and deferred incomè 2,982 3,162 19-
RURAL COMMUNITY NETWORK (NI) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 16 Contlngont Ilabllltl88 There is a conlingenl liability to repay all grant monies should they not be distributed under the terms of the various initiatives. The trustees do not anlicipale any repayment falling due under the tems on which the grants were received. -20-
RURAL COMMUNITY NETWORK (NI) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 17 Statoment of funds Unrestrl¢ted funds At 1 Aprll 2023 At 31 March 2024 Incomo Expendlturo Transfors General reserve 253,055 105.668 120,7441 (133.3571 204.622 253.055 105.668 120,7441 1133,3571 204,622 Doglgnated fund8 Capital fund Cash flow fund Staffing fund Development fund Building maintenance fund 298,282 30,838 45,000 805 {6,7791 289,503 100,000 35,000 20,000 50.000 69,162 {10,000) 19,195 50.000 372,925 16,7791 128.357 494,503 Total unr08trlcted funds 625,980 105.668 127,523} 15,0001 699,125 Genèral reserve The general reserve represents the funds of the charity whlch are not desSgnaled for particular purposes. Capltal fund The capital fund consists of funds received for the purpose of fixed 858els whi¢h are translarrad to unreslricled lund$ when expended and then released from designated funds over th8 related assets, useful life. £7,379 represents tha depreciation charge in the Currant financial year. Cash flow fund The cash flow fund has been designated by Ihe Iruslees lo ensur8 that sufficient reserves are available to bridge any potential shortfall in fundraising largels and lo allow sufficient lime for additional funds lo be seoured. This fund also allows for a temporary transfer of funds while funding claims are being processed. Stafflng fund The staffing fund has been sel up lo cover the cost of employSng locum staff as well as covéring the cost of conlraclual obligations to staff including provision for redundancy costs, training for the re4eployment of staff and good employment practice. Development fund The devèlopment fund was established lo allow Rural Community Neork (Nl) lo invest in the development of new programmes where a need is identified and lo reslwclure existing functions where required. 21
RURAL COMMUNITY NETWORK (NI) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 17 Statement of funds {Contlnued) Restrlcted funds At 1 Apr51 2023 At 31 March 2024 Income Expondlture Transfer8 Community Relations Council H81ilax Community Grants Programme DAERAIDFC CFNI National Lollery Heritag8 Fund Shared History (Ours lo Share} Social Value Engine OIC OCDP- Ballymoney Into the Wesl DCDP- Cookstown Dormant Accounls Fund Nl National Loll8ry Heritage Fund - Hearth Projèct DIC DCDP- Lurgan Rural Health Toolkit INHSSTI 65,254 165,2541 17,2901 1169,6811 19,943) 7,290 169.681 88 9,855 55,114 8,850 3,450 42,850 31,401 155,114} (38,3551 (24.8211 {17.3681 117,4321 29,505 21,371 25,482 13.969 16.331 60,039 114,3791 129.344} {6301 1,952 30,695 4,370 5,000 68,021 453,058 1449,6111 5,000 76.468 Reglonal Infrasturctura Support Programma The Regional Infraslruclure Support Programme funded by DAERA 8nd Ofc to 8 consortuim of groups provides genèric inffaslruclure support lop enable the voluntary and community sector lo operate affeclively and efficiently accross Northern Ireland in both urban and rural area5. Communlty Relatlons Coun¢ll This programme funds a Communlly Relallons programme of acllvlly by provlding funding for a Community Relations Officer and a part limè adminislralor and $88ks lo improve and promote community relations and a 'shared lutura, regionally accross rural Northern Ireland. 18 Dlr¢¢tor8' transactlons The Iruslees neither received nor waived any emoluments during the year (2023'.£nll). 19 Profo88lonal Sndemnlty Insurance Professional indemnity insurance of £304 12023 £3951 h85 been paid to indemnify tru3leeJ and 3taff providing le¢hnical advice to community groups. 22-