ids Company Reglstration No. 100086 (Northern Ireland) chartered accountants GLEN RURAL COMMUNITY GROUP (ARMOY) ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2023 IDS Chartered Accountants LLP 23125 Queen Street COLERAINE Co Londonderry BT52 1BG
GLEN RURAL COMMUNITY GROUP (ARMOY) ids chartered 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 COMMUNITY GROUP (ARMOY) ids. chartered accountants LEGAL AND ADMINISTRATIVE INFORMATION Trustges Philip Christie Anne Douthart Conor Devlin Jacqueline Breen Mary Devlin Damien Gillan Charlty number 100086 Independent examlner IDS Chartered Accountants LLP 23125 Queen Street COLERAINE Co Londonderry BT52 18G Bankers Danske Bank 6 High Street BALLYMONEY Co Antrim BT53 6AD
GLEN RURAL COMMUNITY GROUP (ARMOY) ids. chartered accountants TRUSTEES, REPORT FOR THE YEAR ENDED 31 OCTOBER 2023 The Trustees present their annual report and financial statements for the year ended 31 October 2023. The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity's constitution, the Charities Act {Northem Ireland) 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 IFRS 102> (effective 1 January 2015) objectives and activltles The charity's main objective is to manage and operate a rural community centre completely with volunteers for public benefit. There is no other community centre in this rural area and the local council provide no support. The Rural Community Centre is close to the local church and a big benefit is providing arter funeral meals and other church events. Local Farmers and Sports clubs also use the Community Cenlre. Providing social entertainment, (weekly bingo sessions and fortnightly 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 facililies in the interests of social welfare for recreation and other leisure time occupations and to relieve poverty, sickness and the aged with the object of improving the conditions of life for the said inh*Jitants of Glenshesk and district area of Co Antrim. The Trustees have paid due regard to guidan issued by the Charrty Commlssion in deciding what activities the charity should undertake. Achlevements and performance The main areas of Charitable activity are the provision of communily services, (eg. Providing weekly social entertainment and card games with refreshments) Providing after funeral meals at the community centre. Providing rental facilities to other groups in the area, fundraising and donation5 to help with the running costs of the rural community centre. Applying for small grants to various funding bodies. Flnanclal review The principle funding source for the charity is the rental income, and incom8 from small grant don ations. In the 2023 financial year there was a total grant and donations income of £6.948 (2022.. £8,423). It 15 the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a Seve5 equivalent to between three and six month's expenditure. The Trustees consider that reserves al 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 consideration 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 to mitigate exposure to the major rtsks. Structurei governance and management The organisation is a Northern Ireland regislered charity NIC 100086 registered 1811112014 having previously been registered as a charity with the HMRC. The Rural Community Group operate under an approved Charitable Constitution which satisfies the areas of public benefit - relief of povety. sickness and aged and promoting the benefit of the inhabilants 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 2023 The Trustees who served during the year and up to the date of signature of the financial statements wer8.. Philip Christie Anne Douthart Conor Devlin Jacqueline Breen Mary Devlin Damien Gillan The Twstees, report was approved by Ihe Board of Trustees. Philip Christ18 Trustee 18 January 2024
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 2023, which are set out on pages 5t012. Respective re5ponslbllltles of Trustees and examlner The charity's Trustees are responsible for the preparation of the accounts. The charity's Twslees consider that an audit is not required for this year under section 65 of the Charities Act (Northern Ireland) 2008 and that an independent examination is needed. It is my responsibility to. examine the accounts under section 65 of the 2008 Act,. (li) to follow the procedures laid down in the general Directions given by the Charity Commission for Northern Ireland under section 6919){b) of the Charities Act., and {ili) to state whether particular matters have come lo my attention. Basls of Independent examlnerfs report I have examined your charity accounts as required under section 65 of the Charitie5 Act and my examination was carried out in accordance with the general Directions given by the Charity Commission for Northern Ireland under section 65(9llb) of the Charities Act. My examination included a review of the accounling records kept by the charity and a comparison of the accounts presented with those records. It also included consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as chartty trustees concerning any such matters. My role is to state whether any material matters have come to my attention giving me cause to believe.. 1. That accounting records were not kept in accordance with section 63 of the Cttarilies 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 Acl 4. That there is further information needed for a proper understandin9 of the accounts to be reached. Independent examiner's statement I have compleled my examination and have no concerns in respect of the matters (1} to14) Ilsted above and, in connection with following the Directions of the Charity Commission for Northern Ireland. I have found no matters that require drawing to your attention. Alison Wallace FCA IDS Chartered Accountants LLP 23125 Queen Street COLERAINE Co Londondery BT52 1 BG Dated: 18 January 2024
GLEN RURAL COMMUNITY GROUP (ARMOY) ids. chartered accountonts STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 OCTOBER 2023 Unrestrlcted Restricted funds funds 2023 2023 Total Unrestrlcted Restrl¢ted funds funds 2022 2022 Totsl 2023 2022 Notes co Donations and grants Qlher trading activities Investments 3,342 1,497 4,839 5,390 1,495 6,885 1,878 24 1,878 24 1.537 1,537 Total income 5,244 1,497 6,741 6,927 1,495 8.422 Charitable activities 5,451 1,497 6.948 6,928 1,495 8,423 Net expenditure for the yearl Net movement In funds {2071 (2071 (1) (1) Fund balances at 1 November 2022 128,674 542 129,216 128,675 542 129,217 Fund balances at 31 October 2023 128,467 542 129,009 128,674 542 129,216 The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
GLEN RURAL COMMUNITY GROUP (ARMOY) ids,. chartered accountants BALANCE SHEET AS AT 31 OCTOBER 2023 2023 2022 Notes Flxed assets Tangible assets 10 123,340 123,340 Current assets Debtors Cash al bank and in hand 11 5.669 5,875 5,669 5,876 Net current assets 5,669 5,876 Total assets less current Ilabilitles 129,009 129,216 Income funds Reslricled fund5 Unrestricted funds 542 128.467 542 128,674 129,009 129,216 The financial statements were approved by the Trustees on 18 January 2024 Philip Christie Trustee Anne Douthart Trustee
GLEN RURAL COMMUNITY GROUP (ARMOY) ids Chartered accountants STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 OCT08ER 2023 2023 2022 Notes Cash flows frorn operatlng activltles Cash absorbed by cperations (230) {2) Investlng actlvlties Interest received 24 Net cash generated fromllused In Investing actlvitlos 24 Net cash used in flnanclng activitles Net decrease In cash and cash equlvalents (206) (21 Cash and cash equivalents al beginning of year 5,875 5,877 Cash and cash equlvalents at end of year 5.669 5,875 Relatlng to: Danske Bank account Progressive Building Society account 2,358 3,311 2,588 3,287 5,669 5,875
GLEN RURAL COMMUNITY GROUP {ARMOY) ids. chartered accountants NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2023 Accountlng pollcles Charity Informatlon Glen Rural Community Group (Amoy) is a charity based in Northern Ireland. 11 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 Accountlng conventlon The financial statements have been prepared in accordance with the charity's Igoveming documentl, Ihe Charities Act 2011, FRS 102 "The Financial Reporting Standard applicable in the UK and Republlc of Ireland. ("FRS 102.) and Ihe Charities SORP "Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance wth the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102)" (effective 1 January 2019). The financial statements are prepared in sterfing, which is Ihe functional currency of the chatity. Monetary amount5 in these financial statements are rounded to the nearest £. The financial statements have been prepared under the historical cost convention. The princip81 accounting policies adopted are set out below. 1.2 Golng concern Al the time of approving the financial statements, the Trustees have a reasonable expectation that the charity has adequate resources lo continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements. 1.3 Charitable funds Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable Dbjeclives. Reslri¢led funds are subject to specific conditions by donors as lo how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements. 1.4 Income Income is recognised when the charity is legally entitled to it after any performance conditions have been met. the amounts can be measured reliably, and it is probable that income will be received. 1.6 Expenditure 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 apportioned 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 2023 Accounting policies {Contlnued) 1.6 Tangible flxed assets Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net ol depreciation and any impairment losses. Depreciation is recognised so as lo write off the cost or valuation of assets less their residual value5 over their useful lives on the following bases.. 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 asset, and is recognised in the statement of financial activities. 1.7 Impairment of flxed assets At each reporting end date, the charity review5 the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment Ios5. If any such indication exists, the recoverable amount of the asset is estimated in order to detemine the extent of the impaimient loss (if any). 1.8 Cash and cash equlvalents Cash and cash equivalents include cash in hand, deposrts held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. 1.9 Flnancial Instruments The charity has elected to apply the provisions of Section 11 'Ba5ic Financial Instruments, and Section 12 'Other Financial Instruments Issues, of FRS 102 to all of its financial instruments. Financial instruments are recogni5ed in the charity's balance she81 when the charity becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or lo realise the asset and settle the liability simultaneously. Baslc flnanclal assets Basic financial assets, which include debtors and cash and bank balans, are initially measured at transaction price including transaction costs and are subsequentiy carried al amortised cost using the effective interest method unless the arrangement constitutes a financing transaction. where the transaction is measured al the present value of the futLire receipts discounted al a market rate of interest. Financial assets lassified as receivable within one year are not amortised. Oerecognition of financlal liabllities Financial liabilities are derecognised when the charity's contractual obligations expire or are discharged or cancelled.
GLEN RURAL COMMUNITY GROUP (ARMOY) ids chartered accountants NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 OCT08ER 2023 Crltlcal accounting estlmates and judgemgnts In the application of the charity's accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other Sources. The eslimales and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual result5 may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects cfily that period. or in the period of the revision and future periods wh8re 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 dlsclosure in the financial statements. Donatlons and grants Unrestricted Restrl¢ted funds funds Total Unrestrlcted Restrlcted funds funds Total 2023 2023 2023 2022 2022 2022 Donations and gifts 3,342 1,497 4,839 5,390 1,495 6,885 Donatlons and glfts DAERA- Rural Micro Capital COVID-19 Charity Grant Enkalon Donations 1,497 1,497 1,495 1,495 2,990 2,990 500 2,842 500 2,842 2,400 2,400 3,342 1,497 4,839 5,390 1,495 6.885 Other trading actlvitl85 Unrestricted Unrestricted funds funds 2023 2022 Fundraising events 1,878 1,537 10-
GLEN RURAL COMMUNITY GROUP (ARMOY) ids. ¢hurtered accountants NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2023 Investments Unrestrlcted funds Unr8Strlcted funds 2023 2022 Interest receivable 24 Charitable aGtlvlties 2023 2022 Rent Telephone Light, Heat and Water Small fixture5 and equipment 300 651 724 3.615 300 440 2,556 3,542 5.290 6.838 Share of support Costs (see note 7} Share of governance costs (see note 7) 1,148 510 1,075 510 6,948 8.423 Analysls by fund Unrestricted funds Restricted funds 5,451 1,497 6,928 1,495 6,948 8,423 Support costs Support Governance costs costs 2023 Support Governance costs costs 2022 Insurance Bank Interest and Fees Governance costs heading 3 900 248 900 248 888 187 888 187 510 510 510 510 1,148 510 1,658 1,075 510 1,585 Analysed belmeen Charltable activities 1,148 510 1,658 1,075 510 1,585 11
GLEN RURAL COMMUNITY GROUP (ARMOY) ids. chartered accountants NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2023 Trustees None of Ihe Trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year. Taxation The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxationof Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. 10 Tangible flxed assets Freehold land Flxtures and and bulldlng$ fittlngs Total Cost At 1 November 2022 110,847 12.493 123,340 At 31 October 2023 110,847 12.493 123,340 Carrying amount At 31 October 2023 110.847 12.493 123,340 At 31 October 2022 110,847 12,493 123,340 11 Debtors 2023 2022 Amounts falling due within one year: Trade debtors 12 Analysis of net assets betweèn funds Unrestricted Restricted funds funds 2023 2023 Total Unrestrlcted Restricted funds funds 2022 2022 Total 2023 2022 Fund balances at 31 October 2023 are represented by.. Tangible assets Current assetsl(liabilities) 123,340 5,127 123,340 5,669 123,340 5,334 123,340 5,876 542 542 128,467 542 129,009 128,674 542 129.216 13 Related party transactlons There were no disclosable related party transactlons during the year (2022 - none}. 12-