ids. Charity No. 100086 (Northern Ireland) chartered accountants GLE.N RURAL COMMUNITY GROUP {ARMOYI ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2022 IDS Chartered Accountants LLP 23125 Queen Street COLERAINE Co Londonderry BT52 1 BG
GLEN RURAL COMMUNITY GROUP (ARMOY) ids. ¢hartered accountants CONTENTS Page Legal and administrative information Trustees, report Independent examiner's report Statement of financial activities Balance sheet statement of cash flows Notes to the financial statements 8-12
GLEN RURAL COMMUNITYGROUP (ARMOY) ids. chartered accountants LEGALAND ADMINISTRATIIIE INFORMATION Trustees Philip Christie Anne Douthart Conor Devlin Jacqueline Breen Mary Devlin Damien Gillan Charity number 100086 Principal address 154 Clenshesk Road Cromaghs ARMOY Co Antriyi BT53 8RL Independent examlner IDS CFiartered Accountants LLP 23125 Queen Street COLEIiqINE Co Londonderry BT52 1 BG Bankers Dan.gkp. Bank 6 Higki Street BALLYMONEY Co Antrim BT53 6AD
GLEN RURAL COMMUNITY GROUP (ARMOY) ids. chartered accountants TRUSTEES, REPORT FOR THE YEAR ENDED 31 OCTOBER 2022 The Trustees present their annual report and financial statements for the year ended 31 October 2022. The accounts have been prepared in dccordance with the accounting policies sel out in note 1 to tfE accounts and comply with the charity's conqt lution, the Charities Act (Northern Ireland) 2008 and 'Accounling and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 1021 (effective 1 January 20151. Objectives and activities The charity's main objective is to manage and operate a rural community centre completely with volunteers for public benefit. Providing social entertainment. (weekly bingo sessions and fortnighlly whist drives) for the elderly. Improving the lives of people in a disadvantaged rural community. To promote the rural community, the voluntary sector and the inhabitants of the area for the public benefit. Provide facilities in the interests of social welfare for recreation and other leisure time occupaLions and to relieve poverty, sickness and the aged with. the object of improving the conditions of life for the said inha)itants of Glenshesk and district area of Co Antrim. The Trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake. Achievements and performance The main areas of Charitable activity are the provision of community services, (eg. Providing weekly social entertainment and card games with rpfreshmenls) Providing after funeral meals at the community centre. Providing rental facilities to other group¢0 in the area, fundraising and donations to help with the running costs of the rural community cenlre. Applying for small grants to various funding bodies. Financlal revlew The principle funding source for the cl-iarity is the rental income, and income from small grant donations. In the 2022 financial year there was a total gi dnt and donations income of £6.885 (2021.. £4,226). It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained al a level equivalent to between three and six month's expenditure, The Trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity's current activities while consiaeration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year. The Trustees have assessed the major risks to which the Charity is exposed, and are satisfied that systems are in place lo mitigate exposure to the major risks. Structure, governance and management The organisalion is a Northern Ireland registered charity NIC 100086 reglstered 1811112014 having previously been registered as a charity with the HrRC. The Rural Community Group operate under an approved Charitable Constitution which satisfies the areas'of public benefit - relief of poverty. sickness and aged and promoting the benefit of the inhabitants of Glenshesk and district area of Co Antrim. The management committee is elected at the Annual General meeting each year as per the conditions of the constitution a financial report is prepared each year running from the 1 November to the 31 October.
GLEN RURAL COMMUNITY GROUP (ARMOY) ids. chartered accountants TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2022 The Trustees who served during the year were.. Mr Damien Gillan Mr Conor Devlin Mrs Anna Doulhart Mr Philip Christie Mrs Jacqueline Breen Mrs Mary Devlin The Trustees, report was approved by the Board of Trustees. Philip Christie Trustee Dated. 16 January 2023
GLEN RURAL COMMUNITY GROUP (ARMOY) ids. chartered accountants INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF GLEN RURAL COMMUNITY GROUP (ARMOY) I report on the financial statements of the charity for the year ended 31 October 2022, which are set out on pages 5t0 12. Respective responsibllities of Trustees and examiner The charity's Trustees are responsible for the preparation of the accounts. The charity's Trustees consider that an audit is not required for this year knnder section 65 of the Charities Act (Northern Ireland) 2008 and that an independent examination is needed. It is my responsibility lo.. examine the accounts under section 65 of the 2008 Act., lill to follow th& procedures laid down in the general Directions given by the Charity Commission for Northern Ireland under section 69(9){b} of the Charities Act., and liiil lo slate whether particular matters have come lo my attention. Basis of independent examlner's report I have examined your charity accounts as required under section 65 of the Charities Act and my examination was carried out in accordance with the ger,eral Directions given by the Charity Commission for Northern Ireland under section 65(9)Ibl of the Charities Act. My examination included a review'of.the accounting records kept by the charity and a comparison of the accounts presented with those recordo It also included consideration of any unusual items or disclosures in the accounts. and seeking explanationo from you as charity trustees concerning any such matters. My role is to state whether any material mallers have come lo my attention giving me Cause to believe.. 1. That accounting records were not kept in accordan with section 63 of the Charities Act 2. That the accounts do not accord with those accounting records 3. That the accounts do not coniply with the accounting requirements of the Charities Act 4. That there is further information needed for a proper understanding of the accounts to be reached. Independent examiner's statement, I have completed my examination ap,d have no concerns in respect of the matters111 to14) listed a bove and, in connection with following the Directians of the Charity Commission for Northern Ireland, I have found no matters that require drawing to your attention. Alison Wallace IDS Chartered Accountants LLP 23125 Queen Street COLERAINE Co Londonderry BT52 1 BG Dated.. 16 January 2023
GLEN RURAL COMMUNITY GROUP (ARMOY) ids. chartered accountants STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 OCTOBER 2022 Un rest.ricted Restrlcted funds funds 2022 2022 Total Unrestricted Restricted funds funds 2021 2021 Total 2022 2021 Notes Donations and grants Other trading activities 5,390 1,537 1,495 6.885 1.537 2,758 1,468 4,226 Total Income 6,927 1,495 8,422 2,758 1.468 4,226 Charitabl& activities 6,928 1,495 8.423 3,375 1,468 4,843 Net expendlture for the yearl Net movement In funds (11 (6171 1617) Fund balances at 1 November 2021 128,675 542 129,217 129,292 542 129,834 Fund balances at 31 October 2022 128.674 542 129,216 128,675 542 129,217 The statement of financial activities includes all gains and losses recognised in the year. All incorne and expenditure derive from continuing activitie5.
GLEN RURAL COMMUNITY GROUP (ARMOY) ids. chartered accountants BALANCE SHEET AS AT 31 OCTOBER 2022 2022 2021 Notes Fixed assets Tangible assets 123,340 123,340 Current assets Debtors Cash at bank and in hand 5,875 5,877 5,876 5,877 Net current assets 5,876 5.877 Total assets less currènt liabilities 129,216 129.217 Income funds Restricted funds Unrestricted funds 542 128.674 542 128,675 129.216 129,217 The financial statements were approved by the Trustees on 16 January 2023 Philip Christie Trustee Anne Douthart Trustee
GLEN RURAL COMMUNITY GROUP (ARMOY) ids. chartered accountants STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 OCTOBER 2022 2022 2021 Notes Cash flows from operatlng activities Cash absorbed by operations 12) 1617) Net cash used in Investing activitier. Net cash used in financing activities Net decrease in cash and cash equiv'alents 12} 16171 Cash and cash equivalents at beginning of year 5,877 6,494 Cash and cash equlvalents at end of year 5,875 5,877 Relating to: Danske Bank account Progressive Building Society account 2,588 3,287 2,596 3,281 5,875 5.877
GLEN RURAL COMMUNITY GROUP (ARMOY) ids. chartered accountants NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2022 Accounting policies Charity Informatlon Glen Rural Community Group (Armoy) 15 a charity based in Northern Ireland. It is registered with the Charities Commission under registration no. 100086 and has a registered office address of 154 Glenshesk Road, Armoy, Co. Antrim, BT53 8RL. 1,1 Accounting convention The financial statements have been prepared in accordance with the charity's conslitulion, the Charities Act 2008 and "Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 1 021 {as amended for accounting periods commencing from l January 2016). The charity is a Public Benefit Entity as defined by FRS 102. The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of QAash Flows. The financial staternents are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out belovi. 1.2 Golng concern Al the time of approving the financial slalements, the Trustees have a reasonable expectation that the charity has adequate resources to conlinue in operational existence for the for&seeable future. Thu5 the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements. 1.3 Charitable funds Unrestricted funds are availablf., for use at the discretion of the Trustees in furtherance of their charitable objectives. Reslricled funds are subject LO specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are sat out in the notes to the financial statements. 1.4 Income Income is recognised when the charity is legally entitled lo it after any performance conditions have been met, the amounts can be measured retriably, and it is probable that income will be received. 1.5 Expendlture Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity lo that expenditure, it is probable that settlement will be required and the amount of the obligation can be measured reliably. All expenditure is accounted for on an accruals basis. All expenses including support costs and governance costs are allocated or apportion-d to the applicable expenditure headings. Irrecoverable VAT is charged against the expenditure heading for which it was incurred.
GLEN RURAL COMMUNITY GROUP (ARMOY) ids. chartered accountants NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2022 Accounting policies {Continuedl 1.6 Tangible fixed assets Tangible fixed assets are iriitially measured at cost and subsequently measured at cost or valuation. net of depreciation and any impairment losses. Depreciation is recognised so aa to write off the cost or valuation of assets less their residual values over their useful lives on the following baseo. Freehold land and buildings Fixtures and fittings The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the a.%set, and is recognised in the statement of financial activities. 1.7 Impairment of fixed assets At each reporting end dale, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order lo deterrlline the extent of the impairment loss lif any}. 1.8 Cash and cash equivalents Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-lerm liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. 1.9 Financial instruments The charity has elected to apply the provisions of Section 11 'Basic Financial Inslruments, and Section 12 'Other Financial Instruments Isopues, of FRS 102 to all of its financial instruments. Financial instruments are recogriised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument. Financial assets and liabilities ?.re offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to sel off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. Basic financial assets Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transartion costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. Derecognition of financial liabilities Financial liabilities are derecognised when the charity's contractual obligations expire or are discharged or cancelled. 1.10 Employee benefits The cost of any unused holidaii entitlement is recognised in the period in which the employee's services are received. Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
GLEN RURAL COMMUNITY GROUP (ARMOY) ids. chartered accountants NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2022 Crltical accounting estimates and judgements In the application of the charity's accounting policies. the Trustees are required to make judgement5, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimateo and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basi5. Revisions to accounting estimates are recognised in thp. period in which the estimate is revised where the revision affects cnly that period. or in the period of the revision and future periods where the revision affects both current and future periods. During the current financial year there were no material judgements or sources of estimation uncertainty requiring specific disclosure in the financial statements. Donations and grants Unrestrlcted Restricted funds funds Total Un restricted Restricted funds funds Total 2022 2022 2022 2021 2021 2021 Donations and gifts i,390 1,495 6.885 2,758 1,468 4,226 Donatlons and gifts DAERA- Rural Micro Capital COVID-19 Charity Grant Sundry donations 1,495 1,495 2,990 2,400 1,468 1,468 2,250 508 2.990 2.400 2.250 508 5.390 1,495 6,885 2,758 1,468 4,226 Other trading a¢tlvltles Unrestrl¢ted funds Total 2022 2021 Fundraising events 1,537 10
GLEN RURAL COMMUN.ITY GROUP (ARMOY) ids. chartered accountants NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2022 Charitable activities 2022 2021 Rent Telephone Light, Heat and Water Small fixtures and equipment 300 440 2,556 3,542 300 419 474 2,054 6,838 3.247 Share of support costs (see no'Le 6) 1,585 1.596 8,423 4.843 Analysis by fund Unrestricted funds Restricted funds 6,928 1,495 3,375 1,468 8,423 4,843 Support costs iUPPOrt Governance costs costs 2022 Support Governance costs costs 2021 Insurance Accountancy Bank Interest and Fee5 888 510 187 888 510 187 880 510 206 880 510 206 1,585 1,585 1,596 1,596 Analysed between Charitable activities 1,585 1,585 1,596 1,596 11
GLEN RURAL COMMUNITY GROUP (ARMOY) ids. chartered accountonts NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2022 Tangible fixed assets Freehold land Fixture5 and and building5 fittings Totsl Cost Al 1 November 2021 110,847 12,493 123,340 At 31 October 2022 110,847 12,493 123,340 Carrying amount At 31 October 2022 110,847 12,493 123,340 Al 31 October 2021 110,847 12,493 123.340 Debtors 2022 2021 Amounts falling due within one year: Trade debtors Analysis of net assets between funds U nro.stricted Restricted Iijnds funds 2022 2022 Total Unrestricted Restricted funds funds 2021 2021 Total 2022 2021 Fund balances at 31 October 2022 are represented by.. Tangible assets Current asselsl{liabilities) ,123,340 ,334 123,340 5,876 123,340 5,335 123,340 5,877 542 542 128,674 542 129,216 128,675 542 129,217 10 Related party transactions There were no disclosable related party transactions during the year12021 none). 12-