REGISTERED COMPANY NUMBER: N1026138 (Northern Ireland} REGISTERED CHARITY NUIIqBER: NIC 100077 ort of the Trustees and Financial Statements for the Year Ended 31 October 2022 for Clonard Residents Association Acom Limited b Guarantee an Lynn Drake & Co Ltd Chartered Accountants 1st Floor 34 B-D Main Street Moira Co. Armagh BT67 OLE
Clonard Residents Association Contents of the Financial Statements for the Year Ended 31 October 2022 Page Reference and Administrative Details Report of the Trustees Independent Examiner's Report Statement of Financial Activities Statement of Financial Position Notes to the Financial Statements 9 to 16 Detailed Statement of Financial Activities 17
Clonard Residents Associalion Reference and Administrative Details for the Year Ended 31 October 2022 TRUSTEES Albert Allen Director Seaii Murray Director Daniel Jack Director COMPANY SECRETARY Daniel Jack REGISTERED OFFICE 148- 152, First Floor Springfield Road Belfast Co. Down BT12 7AE REGISTERED COMPANY NUMBER N1026138 (Northern Ireland) RECISTERED CHARITY NUMBER NIC 100077 INDEPENDENT EXAMINER Lynn Drake & Co Ltd Chartered Accountants 1st Floor 34 B-D Maiii Street Moira Co. Arinagh BT67 OLE
Clonard Residents Assoeiation ort of the Trustees for the Year Ended 31 October 2022 The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial stateinents of the charity for the year ended 31 October 2022. The trustees have adopted the provisions of Accounting and Reporting by Charities.. Stateinent of Recommended Practice applicable to cliarities preparing their accounts in accordance with the Financial Reporting Staiidard applicable in the UK and Republic of Ireland (FRS 102) (effective l January 2019). OBJECTIVES AND ACTIVITIES Principle Activities The association has been set up with the aims of benefiting the inhabitants of the Clonard Area of Belfast by providing Advisory and Welfare facilities in the area. Clonard Residents Association is listed under the Belfast Housing Associatioiis & Societies category. Public benefit The direct benefits which flow from the purpose of Clonard Residents Association includes the regeneration of the Clonard community through physical, social and econoinic improvements while developing and inspiring civic values and encouraging voluntary and Community activity. Engageinent and liaison with statutory agencies with the object of improving the conditions of life for the inliabitants is also a key benefit. These benefits are evidenced through feedback and participation from residents and recognition from statutory bodies as a point of contact for issues to be addressed and highlighted. Tlie progress of the ongoing pl)ysical development of the local area will also be a key indicator as much needed housing, amenities and other facilities for use by the local cominunity are the consequence of tliis process. This purpose does nol give rise to any harm. The beneficiarics of this purpose are the people resident in the Clonard area which is an area of high social deprivation. There are no direct private benefits for any trustees of the association except that as people living in that locality they will benefit from tlie improved pliysical. social and econoinic developinents. Tliese beiiefits are incidental and are necessary for us to meet our purpose as a community development organisation. FINAINCIAL REVIEW The company had net incoining resources for the year of £1,994 (2021 net incoming resoiirces of £8.633. which reflected a surplus of income over ¢xpenditure. Unrestricted funds increased by £1,944. The unrestricted fund balance at 31 October 2022 was £76,406. The Restricted fund balance at 31 October 2022 was £Nil The trustees continue to monitor the impact of Covid 19 and are confident that procedures are in place to minimise the impact of Covid 19. FUTURE PLANS The company will continue to let the property out on a commercial basis STRUCTURE, GOVERNANCE AND MANAGEMEIYT Governing document The charity is controlled by its governing document. a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
Clonard Residents Association ort of the Trustees for the Year Ended 31 October 2022 STRUCTURE, GOVERNANCE AND MANAGEMENT Governance of the Charity During the period under review the directors met monthly. Trustees/directors are appointed by nominations made in writing by any existing director. At the General Meeting noininated directors are appointed by electioii. Risk management The principles of good governance are embedded witliin all aspects of Clonard Residents Association Limited operations with management and staff being keenly aware of the Boards respoiisibility of ensuring that the organisation protects itself from financial exposure and reputational dainage, A close working relationship is maintained between tlie Board and management to ensure tliat operationally staff are aware of the standards required of them by the Board and the Board are always in a position to provide guidance and support to management iii the discharge of their duties. This two way relationship is the key feature of Clondard Residents Association Limited governance arrangements and is a key strength in the company. A conscientious approach to ensuring that contractual project requirements are acliieved has been maintained at all times both in the accounting period being reported on and since Cloiidard Residents Association Limited establishment. Very tight financial coiitrols on expenditure and all financial coinmitments are maintained at all times and project staff have been trained and have become experienced in budgetary controls.In both these areas ie Project delivery and financial controls management all staff have established close working relationships with funding orgaiiisations to ensure all mandatory staiidards are consistently achieved. Board representatives also actively engage with funding bodies. The Board, management and staff are fully aware that the nature of the work tn which Clondard Residents Association Limited is involved can bring with it a high level of scrutiny to ensure that all activities are fully compliant with funding requirements and,therefore, beyond reproach.The Board of Clondard Resideiits Association Limited is, therefore, greatly reassured of the company's compliance with the higliest of standards of governance on the basis that all moiiitoring and evaluation of project delivery deinonstrates achieveinent of all funders objectives and that funders, audits and vouching of financial expenditure and the independent accountants report confirin coinpliance with both probity and regularity in the use of monies rec¢ived. EVENTS SINCE THE END OF THE YEAR Information r¢lating to events since the end of the year is given in the notes to the fiiiancial statements. STATEMENT OF TRUSTEES, RESPONSIBILITIES The trust¢cs (who are also the directors of Clonard Residents Association for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) includiiig Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland
Clonard Residents Association ort of the Trustees for the Year Ended 31 October 2022 STATEMENT OF TRUSTEES, RESPONSIBILITIES - continued 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 charitable company and of the incoining resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing thos¢ financial stateinents, the trustees are required to select suitable accounting policies and then apply thcin coiisistently; observe the methods and principles in the Charity SORP; make judgements and estimates that are reasonable and prudent; prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitablc coinpany will continue in business. The trustees are responsible for keeping proper accounting records which disclose with reasoiiable accuracy at any time the financial position of the charitable company and to cnable them to ensure that the financial statemeiits comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and otlier irregularities. This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies. Approved by order of the board of trustees on 5 April 2023 and signed on its behalf by: Albert Allen - Trustee
Inde endent Examiner's Re ort to the Trustees of Clonard Residents Association I report on the accounts of the company for the year ended 31 October 2022, which are set out on pages six to sixteen. Respective responsibilities of charity trustees and examxner As the charity's trustees (and also the directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006. Having satisfied myself tliat tlie charity is not subject to audit under company law and is eligible for independent examination, it is my responsibility to.. examine the accounts under Section 65 of the Charities Act follow the procedures laid down in the general Directions given by the Charity Commission for Northern Ireland under Section 65(9)(b) of the Charities Act state whether particular matters have come to my attention. Basis of the independent examiner's report I have exainiiied your charity accouiits as required under Section 65 of the Charities Act and Iny examination was carried out in accordance with the general Directions given by the Charity Coinmission for Northern Ireland under Section 65(9)(b) of the Charities Act. The exainiiiation included a review of tlie accountiiig records kept by the charity and a coinparison of the accounts presented witli those records. It also included consideration of aiiy unusual items or disclosures in the accounts, and seeking explanations from you as charity trustees concerning any such matters. My role is to state whether any material matters have come to my atteiition giving me cause to believe.. That accounting records were not kept in accordance with Section 386 of the Companies Act 2006 That the accounts do not accord with tliose accountiiig records That thc accounts do not comply with the accounting requiremeiits of Section 396 of the Coinpanics Act 2006 and with the methods and principles of the Charities Statement of Recoinmeiided Practice applicable to charities prepariiig th¢ir accouiits in accordance with the Finaiicial Reporting Standard applicabl¢ in the UK and Republic of Ireland That there is further information needed for a proper understanding of the accounts to be reached. Independent examiner's statement I liave completed niy examination and have no concerns in respect of the matters (l) to (4) listed above and, in connection with followiiig the Directions of tlie Charity Commission for Northern Ireland, I have found no matters that require drawing to your atteiition. Mr Billy Drake Lynn Drake & Co Ltd Chartered Accountants I st Floor 34 B-D Main Street Moira Co. Armagh BT67 OLE 5 April 2023
Clonard Residents Association Statement of Financial Activities for the Year Ended 31 October 2022 31.10.22 Total funds 31.10.21 Total funds Unrestricted Restricted funds funds Notes INCOME AND ENDOWMENTS FROM Donations and legacies 9,737 9,737 14,784 Charitable activities Grants Receivable 5,200 Total 9,737 9,737 19,984 EXPENDITURE ON Charitable activities Direct Charitable Expenditure Governance 6,728 1,015 6,728 1,015 10,451 900 Total 7,743 7,743 11,351 NET INCOME 1,994 1,994 8,633 RECONCILIATION OF FUNDS Total fuiids brought forward 74,412 74,412 65,779 TOTAL FUNDS CARRIED FORWARD 76,406 76,406 74,412 The notes form part of these financial statements
Clonard Residents Association Statement of Financial Position 31 October 2022 3I.10.22 31.10.21 Notes CURRENT ASSETS Cash at bank 78,527 76,412 CREDITORS Amounts falling due within one year (2,121) (2,000) NET CURRENT ASSETS 76,406 74,412 TOTAL ASSETS LESS CURRENT LIABILITIES 76,406 74,412 NET ASSETS 76,406 74,412 FUNDS Unrestricted funds 76,406 74,412 TOTAL FUNDS 76,406 74,412 The charitable company is entitled to exeinption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2022. The members have not required the coinpany to obtain an audit of its financial statements for the year ended 31 October 2022 in accordance with Section 476 of the Companies Act 2006. The trustees acknowledge their responsibilities for (a) ensuring that the charitabl¢ company keeps accounting records that coinply with Sections J86 and 387 of the Coinpanics Act 2006 and (b) preparing financial statements which give a true and fair view of tlie state of affairs of th¢ charitable company as at the eiid of each financial year and of its siirplus or deficit for each financial year in accordance with the requireinents of Sections 394 and 395 and which otherwise comply with the requireincnts of the Coinpanies Act 2006 relating to financial statements, so far as applicable to the charitable company. The notes form part of these financial statements continu¢d..-
Clonard Residents Association Statement of Financial Position - Continued 31 October 2022 These financial statements have been prepared in accordaiice with tlie provisions applicable to charilable companies subject to the small companies regime. The financial statements were approved by the Board of Trust¢¢s and authorised for issue on 5 April 2023 and were signed on its behalf by.. Albert Allen - Trustee Sean Murray - Trustee The notes form part of these financial statements
Clonard Residents Association Notes to the Financial Statements for the Year Ended 31 October 2022 ACCOUNTIING POLICIES Basis of preparing the financial statements (a) General information and basis of preparation Clonard Residents Association Limited is constituted as a company limited by guarantee incorporated in Northern Ireland (N1026138). In tlie event of tlie charity being would up, the liability in respect of tlie guarantee is limited to £1 per member of the cliarity. The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordai)ce witli Accouiiting 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 Irelaiid (FRS 102), the Financial Reporting Standard applicable in the United Kingdoin and Republic of Ireland (FRS 102), tlie Charities Act (Nortliern Ireland) 2013, the Companies Act 2006 and UK Generally Accepted Practice as it applies from l January 2015. The financial statements are prepared on a going concerii basis under the historical cost convention, modified to include certain iteins at fair value. The financial statemeiits are presented in sterling which is the functional currency of the charity. The significant accounting policies applied in the preparatioii of tliese financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated. (b) Funds Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes. Designated funds comprise unrestricted funds that have been set aside by the triistees for particiilar purposes. The aim aiid us¢ of each designated fuiid is set out iii the notes to the finaiicial stateineiits. Restricted funds arc funds which are to be used in accordance with specific restrictions imposed by donors or which hav¢ been raised by the charity for particular purposes. The cost of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements. Further explanation of the nature and purpose of ¢a¢h fund is included in the notes to the financial statements. (e) Income recognition All incoming resources are included in the Statement of Financial Activities (SOFA) when the charity is legally entitled to the income after any performance conditions have been Inet, the amount can be measured reliably and it is probable that the income will be received. continued...
Clonard Residents Association Notes to the Financial Statements - continued for the Year Ended 31 October 2022 ACCOUNTING POLICIES - continued Basis of preparing the financial statements For donations to be recognised the charity will have been notified of the amounts and the settleinent date in writing. If tliere are coiiditions attached to the donation and this requires a level of performance before entitlement can be obtaiiied then income is deferred until tliose conditions are fully met or the fulfilment of tliose conditions is within tlie coiitrol of tli¢ charity and it is probable that they will be fulfilled.Voluntary income is received by way of grants, donations and gifts and is included in full in the Statement of Financial Activities (SOFA) when receivable. Income received from collections is recognised when received. Donated facilitles and donated professional services are recognised in income at their fair value when their economic benefit is probable, it can be measured reliably and the charity has control over the itein. Fair value is deterinined on the basis of the value of the gift to the charity. For example the amount the charity would be williiig to pay in the open market for such facilities and services. A corresponding amount is recognised in expenditure. No amount is included in tlie financial statements for volunteer time in line with the SORP (FRS 102). Further detail is given in the Trustees, Annual Report. For legacies, entitlement is the earlier of the charity being notified of an impending d istribution or the legacy being received. At this point income is recognised. On occasion legacies will be notified to the charity however it is not possible to measure the amount expected to be distributed. On these occasions, the legacy is treated as a contingent asset and disclosed. Income from trading activities includes income earned from fundraising events and trading activities to raise funds for the charity. Incoine is received in exchange for supplying goods and services in order to raise funds and is recognised when entitlement has occurred. The charity receives governinent grants which are detailed within the notes to tliese financial statements. Income from government and other grants ar¢ recognised at fair value when the charity has eiititleinent after aiiy performance conditions have been met, it is probable that the income will be received and the amount can be ineasured reliably. If entitlement is not met th¢n these amounts are deferred. (D) Expenditiure recognition All expenditure is accounted for on an accruals basis, inclusive of VAT which cannot be recovered and has been classified under headings that aggregate all costs related to tlie category. Expenditure is recognised where there is a legal or constructive obligation to Inake payments to third parties, it is probable that the settlern¢nt will be required and th¢ amount of the obligation can be measured reliably. It is cat¢gorised under the following hcadings.. Costs of raising funds includes the costs associated with attracting voluntary incomes. Expenditure on charitable activities includes those costs iiicurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect natur¢ necessary to support them. and Other expenditure represents thos¢ items not falling into the categories above. Irrecoverable VAT is charged as an expense against the activity for which expenditure arose. 10 continued...
Clonard Residents Association Notes to the Financial Statements - continued for the Year Ended 31 October 2022 ACCOUNTING POLICIES - continued Basis of preparing the financial slatements Grants payable to third parties are within the charitable objectives. Where unconditional grants are offered, this is accrued as soon as tlie recipient is notified of the grant, as this gives rise to a reasonabl¢ expectation that the recipient will receive the grants. Where grants are conditional relating to performaiice then the graiit is only accrued when any unfulfilled coiiditions are outside of tlie control of the charity. (e) Support costs allocation Support costs are those that assist the work of the charity but do not directly represent charitable activities and include offic¢ Costs, goveriiaiice costs. adininistrative payroll costs. They are incurred directly in support of expenditure on the objects of the charity and include project management arried out at Headquarters. Where support costs cannot be directly attributed to particular headings they have been allocated to cost of raising funds and expenditure on charitable activities on a basis consistent with use of the resources. Premises overheads have been allocated on an insert detail basis and other overheads have been allocated on a basis consistent with the use of resources. Fund-raising costs are those incurred in seeking voluntary contributions and do not include the costs of disseminating inforination in support of the charitable a¢tiviti¢s. (fj Debtors and creditors receivable I payable within one year Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure. (g) Impairment Assets not measured at fair value are reviewed for any indication that tlie asset may be impaired at each balance sheet date. If such indication exists, the recov¢rable ainount of the asset, or the asset's cash generating uiiit, is estimated aiid compared to the carryiiig amount. Wh¢re the carrying ainount exceeds its recoverable amount, an iinpairineiit loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease. (h) Provisions Provisions are recognised when the charity has an obligation at the balance sheet date as a result of a past event, it is probable that an outflow of econoinic benefits will be required in settlement and the amount can be reliably estimated. (i) Leases Assets acquired under finance leases are capitalised and depreciat¢d over the shorter of tlie lease term and the expected useful life of the asset. Minimum lease payments are apportioned between the finance charge and the reduction of the outstanding lease liability using the effective interest method. The related obligations, net of future finance charges, are included in creditors. Rentals payable and receivable under operating leases are charged to the SOFA on a straight line basis over the period of the lease. continued...
Clonard Residents Association Notes to the Financial Statements - continued for the Year Ended 31 October 2022 ACCOUNTING POLICIES - continued Basis of preparing the financial statements (i) Tax No provision is required for taxation as the company is defined as a charity for taxation purposes. The charity is a registered charity and so such is entitled to certain tax exemptioiis on income and profits from investments and surpluses on any trading activities carried on in furtherance of the charity's primary objectives, if these profits and surpluses are applied solely for charitable purposes. (k) Going concern The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted incoine and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern. (l) Judg¢ments estimates The following judgements including those involving estimates that have been made in the process of applying the above accounting policies that have had the most significant effect on the amounts recognised in the financial statements and that have a significant risk of causing a material adjustment to tlie carrying amounts of assets and liabilities within the next financial year: The estimates and assumptions are reviewed on an ongoing basis considering the current and future market coiiditions. Taxation The company is a registered charity and so such is entitled to certaiii tax exemptions on incom¢ and profits from investtnents and surpluses on any tradiiig activities carried on in furtlierance of the charity's primary objectives, if these profits and surpluses are applied solely for charitable purposes. Fund accounting The company has various typ¢s of funds for which it is responsible and whicli require separate disclosure. A definition of the various types of funds is as follows.. (i) Restricted funds Funds received which are earmarked by the donor for specific purposes. Such purposes are within the overall aims of the company. (i) Unrestricted funds Funds which are expendablc at the discretion of the directors which have been designated for specific purposes in furtherance of the objects of the charity. 12 ontinued.
Clonard Residents Assoeiation Notes to the Financial Statements - continued for the Year Ended 31 October 2022 DONATIONS AND LEGACIES 31.10.22 31.10.21 Gifts Rent & Overhead Contribution 2,900 11,884 9,737 9,737 14,784 INCOME FROM CHARITABLE ACTIVITIES 31.10.22 31.10.21 Activity Grants Receivable Grants 5,200 Grants received, included in the above, are as follows.. 31.10.22 31.10.21 Belfast City Council Clonard Credit Union 5,000 200 5,200 NET INCOMEI(EXPENDITURE) Net incoinel(expenditure) is stated after Chargin(crediting)'. 31.10.22 31.10.21 Accountancy Fee 930 804 TRUSTEES, REMUNERATION AND BENEFITS There were no trustees, remuneration or other benefits for the year ended 31 October 2022 nor for the year ended 31 October 2021. Trustees, expenses There were no trustees, expenses paid for the year ended 31 October 2022 nor for the year ended 31 October 2021. 13 continued...
Clonard Residents Association Notes to the Financial Statements - Continued for the Year Ended 31 October 2022 TANGIBLE FIXED ASSETS (a) The Company's old premises at 24 Kashmir Road, Belfast were vested by the Nl Housing Executive. The money received from the NI Housing Executive was being held by th¢ company solicitor. This money has now been transferred over to Clonard Residents Association, during the year ended 31 October 2011. (b) The company has a 999 year lease on first floor premises on the Springfield Road. BRO funded the development of these new premises through Clonard Residents Association who paid the Proprietors of the Property, Rooney Brothers. Clonard Residents Association do not own this property. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.10.22 31 10.21 Accruals and deferred income 2,121 2,000 ANALYSIS OF NET ASSETS BETWEEN FUNDS 31.10.22 Total funds 31.10.21 Total funds Unrestricted Restricted funds funds Current assets Current liabilities 78,527 (2,121) 78,527 (2,121) 76,412 (2,000) 76,406 76,406 74,412 MOVEMENT IN FUNDS Net movement in funds At 1111121 At 31110122 Unrestricted funds General fund Cominunity Foundation Halifax Foundation Falls Community Council Radius Housing Association NIHE 69,087 1.000 l.500 825 500 1,500 1,994 71,081 1,000 1,500 825 500 1,500 74,412 1,994 76,406 TOTAL FUNDS 74,412 1,994 76.406 14 continu¢d...
Clonard Residents Association INotes to the Financial Statements - continued for the Year Ended 31 October 2022 MOVEMENT IN FUNDS - continued Net movement in funds, included in the above are as follows.. Incoming resources Resources expended Movement in funds Unrestricted funds General fund 9,737 (7,743) 1,994 TOTAL FUNDS 9,737 (7,743) 1,994 Comparatives for movement in funds Net movement in funds At l/l1120 At 31110121 Unrestricted funds General fund Community Foundation Halifax Fouiidation Falls Community Council Radius Housing Association NIHE 60,454 1,000 1,500 825 500 1.500 8,633 69,087 1,000 I,soo 825 500 1,500 65,779 8,633 74,412 TOTAL FUNDS 65,779 8,633 74,412 Coinparative net movement in funds, included in the above are as follows: Incoining resources Resources expended Movement in funds Unrestricted funds General fund 14,984 (6,351) 8,633 Restricted funds Belfast City Council 5,000 (5,000) TOTAL FUNDS 19,984 (11,351) 8,633 15 continued...
Clonard Residents Association Notes to the Financial Statements- continued for the Year Ended 31 October 2022 10. CONTINGENT LIABILITIES A contingent liability exists to repay grants received should certain conditions not be fulfilled by the charity. 11. RELATED PARTY DISCLOSURES There were no related party transactions for the year ended 31 October 2022. 12. POST BALANCE SHEET EVENTS There were no events after the reporting period therefore no material issues need disclosed. 13. MONIES RECEIVED RE 24 KASHMIR ROAD PROCEEDS Duriiig the year ended 3 1st October 201 I, the Inonies being held by the Company solicitor, relating to the proceeds from the sale of 24 Kashmir Road were paid over to the Charitable Company. This totalled an amount of £22,563. The Charitable Company believe that this money does not need to be r¢turned to the original funder and will remain for the use of the Charitable Company at the discretion of tlie trustees in lin¢ with their objectives. 14. WINDING UP Every member of the Company undertakes to contribute to the assets of the Coinpany, in the event of the same being wound up while it is a member, or within one year after it ceases to be a meinber, for payment of the debts and liabilities of the Company contracted before it ceases to be a member, and of the costs, charges and expenses of winding up, and for the adjustment of the rights of the contributor's among themselves, such amount as may be required not exceeding one pound. 15. SHARE CAPITAL The Company is limited by guarantee and has no share capital 16. COVID 19 The trustees consider the outbreak of Covid-19 to be a non-adjusting event after the reporting date and will moiiitor the situation closely and will contiiiue to take appropriate stcps to secure the viability of the organisation as and when necessary. 16
Clonard Residents Association Detailed Statement of Financi371 Activities for the Year Ended 31 October 2022 31.10.22 31.10.21 INCOME AND ENDOWMENTS Donations and legacies Gifts Rent & Overhead Contribution 2,900 11,884 9,737 9,737 14,784 Charitable activities Grants 5,200 Total incoming resources 9,737 19,984 EXPENDITURE Charitable activities Rates aiid water Insurance Light and heat Telephone Repairs and Maintenance Donations Suinmer Scheine 576 860 2,912 1,173 507 500 200 544 660 2,140 1,668 5,439 6,728 10,451 Support costs Governance costs Accountancy Fee Bank charges and interest 930 85 804 96 1,015 900 Total resources expended 7,743 11,351 Net income 1,994 8.633 This page does not form part of the statutory financial statements 17