REGISTERED COMPANY NUMBER: N1026138 (Northern Ireland) REGISTERED CHARITY NUMBER: NIC 100077 Re ort of the Trustees and Financial Statements for the Year Ended 31 October 2023 for Clonard Residents Association Aco Limited b Guarantee an Lynii Drake & Co Ltd Chartered Accountants I st 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 2023 Page Referenee and Administrative Details Report of the Trustees Independent Examiner's Report Statement of Financial Activities Statement of Financial Position Notes lo the Financial Statements 9 to 16 Detailed Statement of Financial Activities
Clonard Residents Association Reference and Administrative Details for the Year Ended 31 Oclober 2023 TRUSTEES Albert Allen Director Sean 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) REGISTERED CHARITY NUMBER NIC 100077 INDEPENDENT EXAMINER Lynn Drake & Co Ltd Chartered Accoiintants 1st Floor 34 B-D Main Street Moira Co. Armagh BT67 OLE
Clonard Residents Association ort of the Trustee5 for the Year Ended 31 Oclober 2023 The trustees wlio are also directors of the charity for the purposes of the Companies Act 2006. present their report witli the fiiiancial stateinents of the charity for the year ended 31 October 2023. The trustees have adopted the provisioiis of Accouiiting and Reporting by Chariti¢s'. Statement of Recommended Practice applicable to Charities prepariiig tlieir accounts in accordance with tlie Financial Reporting Standard applicable iii 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 aiins of benefiting the inhabitants of the Clonard Area of Belfast by providii)g Advisory aiid Welfare facilities in the area. Cloi)ard 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 commiiiiity tlirough physical, social and economic improvein¢nts while developing and inspiring civic values and encouraging voluntary and community activity. En(Fagement and liaison with statutory agencies with the object of improving the conditions of life for the inhabitants is also a key beii¢fit. These beiietits are evidenced through feedback aiid participation from residents and recognitioii from statutory bodies as a point of contact for issues to be addressed and higlilighted. The progress of the ongoing physical developinent of tlie local area will also be a key indicator as niucli needed Iiousiiig, amenities and otlier facilities for iise by the local commuiiity arc the consequence of this process. This purpose does not give rise to aiiy harin. The beneficiaries of this purpose are the people resident in the Clonard area which is an area of liigh social deprivation. There are no direct private bei)efits for aiiy trustees of tlie association except that as people living in that locality tli¢y will benefit froin the iinproved pliysical, social and economic developiiients. Tliese beiiefits are incidental and are Iiecessary for LIS to Ineet our purpose as a cominunity development organisation. FINANCIAL REVIEW The company had net incoming r¢sour¢¢s for the year of £5.007 (2022 net incoming resolirces of £1,944, whicli reflected a surplus of iiicoine over expenditure. Unrestricted fuiids iiicreased by £5,007. The unrestricted fuiid balance at 31 October 2023 was £81,413. The Resti-icted fuiid balance at 31 October 2023 was £Nil. FUTURE PLANS The compaiiy will continue to let the property out on a commercial basis STRUCTURE, GOVERNAIYCE AND MANAGEMENT Governing document The cliarity is coiitrolled by its goveriiing 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 2023 STRUCTURE, GOVERNANCE AND MANAGEMENT Governance of the Charity During the period uiider review the directors met monthly. TrLlStees/directors are appoiiited by Iioininations made in writing by any existing director. At the General Meetiiig nominated directors are appointed by election. Risk management The principles of good governance are embedded within all aspects of Clonard Residents Association Limited operatioiis with management and staff being keenly aware of the Boards responsibility of ensuring that the organisation protects itself from financial exposure and reputational dainage, A close working relationship is Inaintained between the Board and Inanageineiit to ensure that operational ly staff are aware of tlie standards required of thein by the Board and the Board are always in a position to provide guidance and support to management in the discharge of their duties. This two way relationship is tlie key feature of Clondard Residents Association Limited goveriiance arraiigements and is a key strength in the company. A conscientious approach to eiisuring tl)at coiitractual project requirements are achieved has beeli Inaii)taiiied at all tiines botli in tlie accouiitiii¥ period being reported on aiid since Clondard Residents Association Liinited establishinent. Very tight financial coiitrols on expenditure and all financial cominitinents are maintained at all tiines aiid project staff have been trained aiid have becoine experienced in biidgetary controls.ln both these areas ie Project delivery and finaiicial controls manageinent all staff have establ ished close working relatioiiships with funding organisations to ensure all mandatory standards are consistently achieved. Board represeiitatives also actively engage with funding bodies. The Board, Inanagement and staff are fully aware that the nature of the work in whicli Clondard Residents Associatioii Limited is iiivolved can bring with it a liigh level of scrutiny to eiisure that al l activities are fully compliant with funding reqLiir¢inents aiid,therefore, beyond reproach.The Board of Clondard Residents Association Limited is, therefore, greatly reassured of the company's compliance with the higliest of standards of governance on the basis that all monitoring and evaluation of project delivery demonstrates acliieveinent of al I funders objectives and that funders, audits and voiiching of financial expenditure and the iiidependent accountants report confirm compliance with both probity and regularity iii the use of monies received. EVENTS SINCE THE END OF THE YEAR Information relatiiig to events since the end of tlie year is given in tlie notes to the fiiiancial statements. STATEMENT OF TRUSTEES, RESPONSIBILITIES The trustees (who are also tlie directors of Clonard Residents Association for the purposes of coinpany law) are responsible for preparing the Report of the Trustees and the financial stateiT]ents in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accouiiting Practice) including 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 2023 STATEMENT OF TRUSTEES, RESPONSIBILITIES - continued Company law requires tlie 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 incoming resources and application of resources, includiiig the incoine and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to select suitable accounting policies and then apply them consistently. observe the Inethods and principles iii the Charity SORP. Inake judgements and estiinates tliat are reasonable and prudent. prepare tlie fiiiancial statements on the going concern basis unless it is inappropriate to presuine that the charitable company will contiiiue in business. The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time tlie fiiiai)cial position of tlie charitable coinpany and to enable thein to ensure that the financial statements coinply with the Coinpanies Act 2006. They are also responsible for safeguarding the assets of the charitable coinpany and hence for taking reasonable steps for the prevention and detection of fraud and otlier irregularities. Tliis report has been prepared in accordance with tlie special provisions of Part 15 of the Coinpanies Act 2006 relatiiig to sinall Compaiiies. Approved by order of the board of trustees on 5 April 2024 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 compaiiy for the year ended 31 October 2023, which are set out on pages six to sixteeii. Respective responsibilities of charity trustees and examiner As the charity's trustees (aiid also tlie directors for the purposes of coinpaiiy law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006. Having satisfied myself that the charity is not subject to audit under company law and is eligible for independeiit exainiiiation, it is my responsibi lity to.. exainine tlie accounts under Section 65 of tlie 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 Cliarities Act state whether particular matters have come to my attention. Basis of the independent examiner's report I have examined your charity accounts as required under Section 65 of the Charities Act and my examination was carried out in accordaiice witli the gei)eral Directions given by the Charity Commission for Northern Irelaiid uiider Section 65(9)(b) of the Charities Act. Tlie examination iiicluded a review of tlie accounting records kept by the charity and a coinparison of the accounts presented with those records. It also included consideration of ally uiiusiial iteins or disclosures in the accounts, and seeking explanations from you as charity trustees concerning aiiy such matters. My role is to state wliether any Inaterial Inatters have come to my attention giving me cause to believe: That accoiintiiig records were not kept in accordance with Section 386 of the Companies Act 2006 That tli¢ accounts do Iiot accord with those accouiitiiig records That tlie accounts do not coinply with tlie ac¢oui)ting requirements of Section 396 of the Companies Act 2006 and with the metliods and principles of the Charities Statement of Recoinmended Practice appl icable to charities preparing tlieir accounts in accordance with the Financial Reportiiig Staiidard applicable in tlie UK and Republic of Ireland That there is further inforination needed for a proper und¢rstanding of the accounts to be reached. Independent examiner's statement I have coinpleted Iny exainination and liave no conceriis in respect of tlie matters ( l ) to (4) listed above and. iii connectioii with following the Directions of tlie Charity Comin ission for Nortliern Ireland, I have found no matters that require drawiiig to yoiir atteiition. Billy Dra FCA Lynn Drake & Co Ltd Chartered Accountants I st Floor 34 B-D Main Street Moira Co. AriT]agh BT67 OLE 5 April 2024
Clonard Residents Association Statement of Financial Aetivities for the Year Ended 31 Oclober 2023 31.10.23 Total funds 31.10.22 Total funds Unrestricted Restricted funds funds Notes INCOME AND ENDOWMENTS FROM Donations and legacies 11,933 11,933 9,737 EXPENDITURE ON Charitable activities Direct Charitable Expeiiditure Governance 5,971 955 5,971 955 6,728 1,015 Total 6.926 6,926 7,743 NET INCOME 5,007 5,007 1,994 RECONCILIATION OF FUNDS Total fiinds broiight forwai'd 76,406 76,406 74.412 TOTAL FUNDS CARRIED FORWARD 81,413 81,413 76,406 The notes form part of these financial statements
Clonard Residents Associalion Statement of Financial Position 31 October 2023 31.10.23 31.10.22 Notes CURRENT ASSETS Casli at bank 83,346 78,527 CREDITORS Ainounts falling due witliin one year (1,933) (2,121) NET CURRENT ASSETS 81,413 76,406 TOTAL ASSETS LESS CURRENT LIABILITIES 81,413 76,406 NET ASSETS 81,413 76,406 FUNDS Unrestricted funds 81.413 76,406 TOTAL FUNDS 81,413 76,406 The cliaritable company is entitled to exemption froin audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2023. The meinbers have iiot required the company to obtain an audit of its financial statements for tlie year elided 31 October 2023 in accordance witli Section 476 of the Companies Act 2006. The trustees acknowledge their responsibilities for (a) ensuring tliat tlie cliaritable coinpany keeps accounting records tliat comply with Sections 3 86 and 3 87 of the Companies Act 2006 and (b) preparing financial statemeiits which give a true and fair view of tlie state of affairs of the charitable coinpany as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requireinents of Sections 394 and 395 and whicli otherwise coinply with tlie requirements of tlie Conipanies Act 2006 relating to financial statements, so far as applicable to the charitable coinpaiiy. The notes form part of these financial statements continued...
Clonard Residents Association Statement of Financial Position - continued 31 October 2023 These financial stateinents have been prepared in accordance with the provisions applicable to charitable coinpanies subject to tlie sinal I compaiiies regime. The financial stateinents were approved by the Board of Trustees and authorised for issue on 5 April 2024 and were signed on its behalf by- Albert Allen Trustee IAdr Sean Murray - Trustee The notes form part of these financial statements
Clonard Residents Association Notes to the Financial Slatements for the Year Ended 31 October 2023 ACCOUNTING POLICIES Basis of preparing the financial statements (a) General information and basis of preparation Clonard Resideiits Association Limited is constituted as a coinpany limited by guarantee incorporated in Northern Ireland (N102613 8). In the event of the charity being would up, the liability iii respect of tlie giiarantee is liinited to £ I per member of tlie ¢harity- The charity constitutes a public benefit entity as defined by FRS 102. Tlie financial statements have been prepared in accordance with Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accoLints in accordance with the Finaiicial Reporting Staiidard applicable in the UK aiid Republ ic of Ireland (FRS 102), the Fiiiaiicial Reportiiig Staiidard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Cliarities Act (Nortliei'n Irelaiid) 2013, the Coinpanies Act 2006 and UK Generally Accepted Practice as it applies from l January 2015. Tlie financial statements are prepared on a going concern basis uiider tlie liistorical cost conventioii, modified to iiiclude certaiii iteiiis at fair value. The financial statements are presented in sterling whicli is the functional curreiicy of the charity.. The significaiit accounting policies applied in the preparation of these financial stateinents are set out below. These policies have been consistently applied to all years presented unless otherwise stated. (b) Funds Unrestricted funds are avai lable for use at the discretion of the trustees in furtherance of the general objectives of the charity and whicli have not beeii designated for other purposes. Designated fuiids comprise unrestricted fuiids tliat have been set aside by the trustees for particular purposes. Tlie aim aiid use of eacli desigiiated fuiid is set out in the notes to the financial stateinents. Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which liave been raised by the charity for particular purposes. Tlie 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. Furtlier explanation of tlie nature and purpose of each fund is included in the notes to the financial stat¢in¢nts. (c) Income recognition Al l incoill ing resources are included iii the Statement of Financial Activities (SOFA) when the cliarity is legally entitled to the income after any performance conditions have been met, the amount can be measured rel iably 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 2023 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 settlement date in writiiig. If there are conditions attached to the donatioii and this requires a level of performance before entitlemeiit can be obtained then income is deferred until tliose conditions are fully met or tlie fulfilinent of those conditions is within the control of th¢ cliarity 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) wlien receivable. Income received from collections is recognised when received. Donated facil ities and doiiated professional services are recognised in income at their fair value wlien their econoinic benefit is probable, it can be measured reliably and the cliarity has coiitrol over Ilie itein. Fair value is deterinined on the basis of the value of the gift to tlie charity. For example the amount the charity would be willing to pay in the opeii Inarket for such facilities and services. A correspoiiding amount is recogiiised in expeiiditure. No ainount is included in the fiiiancial stateinents for volunteer time in line with the SORP (FRS 102). Further detail is given in the Trustees, Aniiual Report. For legacies, entitlement is the earl ier of the charity being notified of an impcnd ing distribution or the legacy beiiig received. At tli is point income is recognised. On occasioT] legacies wil I be notified to the charity however it is not possible to measure the amount expected to be distributed. On these occasions, tlie legacy is treated as a contingent asset and disclosed. Iiicome from trad ing activities includes incoine earned from fundraising events and trading activities to raise funds for the charity. Iiicoine is received in exchange for supplyiiig goods and services in order to raise fuiids and is recogn ised wlien entitlement has occurred. The cliarity receives government graiits which are detailed within the iiotes to these finaiicial statements. IncoiT]e froin governinent and other grants are recognised at fair value when the charity has entitlement after aiiy perforinance cond itions have beeii met, it is probable tliat the incoiTJe will be received aiid the ainount can be measured reliably. If entitlement is not Inet then these amounts are deferred. (D) Expenditiure recognition All expenditure is accounted for on ali accruals basis, inclusive of VAT whicli cannot be recovered and has beeii classified under headings that aggregate all costs related to the cat¢gory. Expend iture is recognised where there is a legal or constructive obligation to mak¢ payinents to third parties, it is probable that the settlein¢nt will be required and the amount of the obligation can be measured reliably. It is categoris¢d under the following headings: Costs of raising funds includes the costs associated with attracting voluntary incomes. Expend iture on charitable activities includes those costs incurred 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 nature necessary to support them. and Other expenditure represents tliose 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 2023 ACCOUNTING POLICIES - continued Basis of preparing the financial statements Grants payable to third parties are within the charitable objectives. Where unconditional grants are offered, this is accrued as soon as the recipient is notified of the grant, as this gives rise to a reasonable expectatioii tliat the recipient will receive tlie grants. Wliere grants are coiiditioiial relating to perforinaiice then the grant is only accrued when any unfulfilled conditioiis are outside of tlie control of the charity. (e) Support costs allocation SLlPPOrt costs are those tliat assist the work of the charity but do not directly represent cliaritable activities and inc lude office costs, governance costs, adininistrative payrol I costs. They are incurred directly in support of expeiiditiire on the objects of tlie cliarity and iiiclude project managenient carried out at Headquarters. Where support costs cannot be directly attributed to particular lieadings 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 tlie use of resources. Fiind-raising costs are those incurred in seeking voliintary contributions and do not include the costs of dissem iiiating informatioii in siipport of tl)e charitable activities. (D Debtors and creditors receivable I payable within one year Debtors aiid creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arisiiig from iinpairiT)¢lit are recognised in expenditure. (g) Impairment Assets not measured at fair value are reviewed for aiiy iiidication that tlie asset Inay be iinpaired at eacli balance sheet date. If such indication exists. the recoverable ainount of tlie asset, or tlie asset's ash generating uiiit, is estiinated and compared to tlie carrying amoiiiit. Where tlie carrying amount exceeds its recoverable amount, an iiiipairinent loss is recognised iii profit or loss uiiless the asset is carried at a revalued amount where the impairmeiit loss is a revaluation decrease. (h) Provisions Provisions are recognised wheii the charity has an obl igation at tlie balance sheet date as a result of a past event, it is probable that an outflow of economic beiiefits will be required in settleinent and tlie amount can be reliably estimated. (i) Leases Assets acquired under finance leases are capitalised and depreciated over the shorter of the lease terin and the expected useful life of the asset. Minimuin 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 - contlnued for the Year Ended 31 October 2023 ACCOUNTING POLICIES - continued Basis of preparing the fin#ncial statements li) 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 exemptions on incoine and profits from investnients and surpluses on any trading activities carried on in furtherance of tlie cliarity's primaiy objectives, if these profits and surpluses are applied solely for charitable piirposes. (k) Going concern The financial statements have been prepared on a going concerii basis as the trustees believe tliat no material uncertainties exist. Tlie trustees have considered the level of fuiids held and the expected level of income aiid expenditure for 12 months from authorising these financial statements. The budgeted incoine and expenditure is sufficient with the level of reserves for the cliarity to be able to continue as a going concern. (l) Judgements estimates The followiiig j udgements includiiig those involving estiinates that have beeii made in the process of applying the above accouiiting policies tliat have had the most significant effect on the amounts recognised in the financial stateiTJents and that have a significant risk of causing a material adjustment to the 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 cond itioiis. Taxation The coinpany is a registered charity and so such is entitled to certaiii tax exemptions on income and profits froin investments and surpluses on any trading activities carried on in furtherance of the charity's priiTLary objectives, if these profits and surpluses are applied solely for charitable purposes. Fund accounting The company has various types of funds for wliich it is responsible and which require separate disclosure. A definitioii of the various types of fuiids 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 coinpany. (i) Unrestricted funds Funds which are expendable at the discretion of the directors which liave been designated for specific purposes in furtlierance of the objects of the charity. 12 continued...
Clonard Residents Association Notes to the Financial Slatements - continued for the Year Ended 31 October 2023 DONATIONS AND LEGACIES 31.10.23 31.10.22 Rent & Overliead Coiitribution 11,933 9,737 NET INCOMEI(EXPENDITURE) Net incoine/(expenditure) is stated after ¢hargingl(crediting)'. 31.10.23 31.10.22 Accountancy Fee 876 930 TRUSTEES, REMUNERATION AND BENEFITS There were no trustees, remuneration or other benefits for tlie year ended 31 October 2023 nor for the year ended 31 October 2022. Trustees, expenses There were no trustees, expeiises paid for the year ended 31 October 2023 nor for the year ended 31 October 2022. TANGIBLE FIXED ASSETS (a) The Company's old premises at 24 Kaslimir Road, Belfast were vested by the Nl Housing Executive. The Inoney received froin the Nl Housiiig Executive was being held by the coinpany solicitor. This money has iiow been transferred over to Clonard Residents Association, during the year ended 31 October 2011. (b) The coinpaiiy has a 999 year lease on first floor preinises on tlie Springfield Road. BRO funded the developnient of these new prciiiiscs through Clonard Residents Association who paid the Proprietors of tlie Property, Rooney Brothers. Clonard Residents Association do iiot own this property. 13 continued...
Clonard Residents Association Notes to the Financial Statements - continued ror the Year Ended 31 October 2023 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.10.23 31.10.22 Accruals and deferred incoine 1,933 2,121 ANALYSIS OF NET ASSETS BETWEEIN FUNDS 31.10.23 Total funds 31.10.22 Total funds Unrestricted funds Restricted funds Current assets Current l iabi lities 83,346 (1,933) 83,346 (1,933) 78,527 (2,121) 81.413 81,413 76,406 MOVEMENT IN FUNDS Net movement in funds At 1111122 At 31110123 Unrestricted funds General fund Coininuii ity Foundation Hal ifax Foliiidatioii Falls Cominuiiity Couiicil Radius Housing Association NIHE 71,081 1,000 1,500 825 500 1.500 5,007 76,088 1,000 1,500 825 500 1,500 76,406 5,007 81,413 TOTAL FUNDS 76,406 5,007 81,413 Net movement in funds, included in the above are as follows: Encoming resources Resources expeiided Movement in funds Unrestricted funds General fund 11,933 (6,926) 5,007 TOTAL FUIYDS 11,933 (6,926) 5,007 continued...
Clonard Residents Association Notes lo the Financial Statements - continued for the Year Ended 31 October 2023 MOVEMENT IN FUINDS- continued Comparatives for movement in funds Net movement in funds At 1111121 At 31110122 Unrestricted funds General fund Community Foundation Halifax Foundation Falls Cominunity Coiincil Radius Housing Association NIHE 69,087 1,000 1,500 825 500 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 Coinparative net movement in funds, included in tlie above are as follows.. Incoming resources Resources expended Movement in funds Unrestricted funds General fuiid 9,737 (7,743) 1,994 TOTAL FUNDS 9,737 (7,743) 1,994 CONTINGENT LIABILITIES A contingent l iabi lity exists to repay graiits received shou Id certain conditions not be fulfil led by the charity. 15 continued...
Clonard Residents Assoeiation Notes to the Financial Statements - continued for the Year Ended 31 October 2023 10. RELATED PARTY DISCLOSURES There were no related party transactions for tlie year ended 31 October 2023. 11. POST BALAIYCE SHEET EVENTS There were no events after the reporting period therefore no material issues need disclosed. 12. MONIES RECEIVED RE 24 KASHMIR ROAD PROCEEDS During the year elided 31 st October 201 I, the moiiies being held by the Company sol icitor, relating to the proceeds froin tlie 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 returned to tlie original funder and will rernain for the use of the Cliaritable Company at the discretion of the trustees in line with their objectives. 13. WINDING UP Every meinber of the Coinpany undertakes to contribute to the assets of tlie Coimpaiiy, in the event of the same being wound up while it is a member, or within one year after it ceases to be a meniber, for payinent of the debts and liabilities of the Company contracted before it ceases to be a member, and of the costs, charges and expeiises of winding up, and for the adjiistment of the rights of the contributor's amoiig themselves, such ainount as may be required not exceeding one pound. 14. SHARE CAPITAL The Company is liin ited by guaraiitee and lias no share capital 16
Clonard Residents Association Detailed Statement of Financial Activities for the Year Ended 31 October 2023 31.10.23 31.10.22 INCOME AND ENDOWMENTS Donations and legacies Rent & Overhead Contribution 11,933 9,737 Total incoming resources 11,933 9,737 EXPENDITURE Charitable activities Rates aiid water Insurance Light and heat Telephone Printing and Stationery Repairs and Maintenance Donatioiis SuiniT]er Scheine Christinas expenses Trade subscriptioiis Aisling Awards donation 703 989 2,341 680 190 105 576 860 2,912 1,173 507 500 200 450 13 500 5,971 6,728 Support costs Governance cost5 Accouiitaiicy Fee Baiik charges and interest 876 79 930 85 955 1,015 Total resources expended 6,926 7,743 Net income 5,007 1,994 This pag¢ does not form part of the statutory financial stateinents 17