ids. Charity Registration No. 100086 (Northern Ireland) chartered accountants GLEN RURAL COMMUNITY GROUP IARMOYI ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024 IDS Chartered Accountants LLP 23125 Queen Street COLERAINE Co Londonderry BT52 1 BG
GLEN RURAL COMMUNITY GROUP (ARMOY) ids. chartered accountants CONTENTS Page Legal and administrative information Trustees, report Independent examinerfs report Statement of financial activities Balance sheet Statement of cash flows Notes to the financial statements 8-13
GLEN RURAL COMMUNITY GROUP (ARMOY) ids. chartered accountants LEGAL AND ADMINISTRATIVE INFORMATION Trustees Philip Christie Anne Doulhart Conor Devlin Jacqueline Breen Mary Devlin Damien Gillan Charity number 100086 Reglstered office 154 Glenshesk Road Cromaghs ARMOY Co Antrim BT53 8RL Independent examiner IDS Chartered Accountants LLP 23125 Queen Street COLERAINE Co Londonderry BT52 1BG Bankers Danske Bank 6 High Street BALLYMONEY Co Antrim BT53 6AD
GLEN RURAL COMMUNITY GROUP (ARMOY) ids. chartered accountants TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 OCTOBER 2024 The Trustees present their annual report and financial statements for the year ended 31 October 2024. The accounts have been prepared in accordance with the accounting policies sel out in note 1 to the accounts and comply with the charity's constitution, the Companies Act 2006 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 l 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. There is no other community centre in this rural area and the local GounGiI provide no support. The Rural Community Centre is close to the local church and a big benefit is providing after funeral meals and other church events. Local Farmers and Sports clubs also use the Community Centre. Providing social entertainment, (weekly bingo sessions and fortnightly whist drives) for the elderty. 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 occupations and to relieve poverty, sickness and the aged with the object of improving the conditions of life for the said inhabitants of Glenshesk and district area of Co Antrim. Public benefit The Trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake. Achievoments and performance Significant activities and achievements against objectives The main areas of Charitable activity are the provision of community services, (eg. Providing weekly social entertainment and card games with refreshments) Providing after funeral meals al the community centre. Providing rental facilities to other groups in the area, fundraising and donations to help with the running costs of the rural community centre. Applying for small grants to various funding bodies. As the location of the Rural Comrnunity Centre is in an Environmental Sensitive Area the Charity promote environmental projects to complement the rural countryside landscape features. This year the charity reiVed a grant to plant a hedge alongside a community walkway attached to the Rural Community Centre. Financial review The principle funding source for the charity is the rental income, and income from small grant donations. In the 2024 financial year there was a total grant ancl donations income of £10,894 (2023= £6,741 }. ReseNes policy It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at 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 consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year. Major risks 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 risks.
GLEN RURAL COMMUNITY GROUP (ARMOY) ids. chartéred accountants TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2024 Structure, governance and management The organisation is a Northern Ireland registered Gharity 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 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 lo the 31 October. The Trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were.. Philip Christie Anne Doulhart Conor Devlin Jacqueline Breen Mary Devlin Damien Gillan Recruitment and appointment of tmstees The Trustees, report was approved by the Board of Trustees. Philip Christie Trustee 5 December 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 2024, which are set out on pages 5t013. Respectlve responsibilities of Trustees and examlner The Trustees, who are also the directors of Glen Rural Community Group (Armoyl for the purposes of company law, are responsible for the preparation of the accounts. The Trustees 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. Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent examination, il 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 69{91(b} of the Charities Act; and lui) to state whether particular matters have come to my attention. Basls of 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 accordance with the general Directions given by the Charity Commission for Northern Ireland under section 65{9}(b) 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 records. It also included consideration of any 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 mallers have come to my attention giving me cause ta believe.. 1. That accounting records were not kept in accordance with section 63 of the Charities Act 2. That the accounts do not accord with those accounting records 3. That the accounts do not comply with the accounting requirements of the Charities Act 4. That there is further infomiation needed for a proper understanding of the accounts to be reached. Independent examiner's statement Alison Wallace FCA IDS Chartered Accountants LLP 23125 Queen Street COLERAINE Co Londonderry BT52 1 BG Dated. 5 December 2024
GLEN RURAL COMMUNITY GROUP (ARMOY) ids. chartered accountants STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 OCTOBER 2024 Unrestricted Restricted funds funds 2024 2024 Total Un restricted Restricted funds funds 2023 2023 Total 2024 2023 Notes Income from: Donations and legacies Other trading activities Investments 2,480 2,396 80 5,938 8,418 2,396 80 3,342 1,878 24 1,497 4,839 1,878 24 Total income 4,956 5,938 10,894 5,244 1,497 6,741 Expenditure on: Charitable activities 4,652 5,938 10,590 5,451 1,497 6,948 Total expenditure 4,652 5,938 10,590 5,451 1,497 6,948 Net incomel(expendlturel and movement in funds 304 304 {207) (207) Reconciliation of funds: Fund balances at 1 November 2023 128,467 542 129,009 128,674 542 129,216 Fund balances at 31 October 2024 128,771 542 129,313 128,467 542 129,009 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 ASAT31 OCTOBER 2024 2024 2023 Notes Fixed assets Tangible assets 10 123,340 123,340 Current assets Cash at bank and in hand 5,973 5,669 Net Current assets 5,973 5,669 Total assets less current liabilities 129,313 129,009 The funds of the charity Restricted income funds Unrestricted funds 11 12 542 128,771 542 128,467 129,313 129,009 The company is entitled lo the exemption from the audit requirement Gontained in section 477 of the Companies Act 2006, for the year ended 31 October 2024. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements. The members have not required the company to obtain an audit of its financial statements for Ihe year in question in accordance with section 476. These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. The financial statements were approved by the Trustees on 5 December 2024 Philip Christie Trustee Anne Douthart Trustee Company registration number 100086 (Northern Ireland)
GLEN RURAL COMMUNITY GROUP (ARMOY) ids. chartered accountonts STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 OCTOBER 2024 2024 2023 Notes Cash flows from operating activities Cash generated froml{absorbed by) operations 224 (230) Investing activities Interest received 80 24 Net cash generated from investing activities 80 24 Net cash used in financing activities Net increaselldecrease) in cash and cash equlvalents 304 (206) Cash and cash equivalents at beginning of year 5,669 5,875 Cash and cash equivalents at end of year 5,973 5,669 Relating to" Danske Bank account Progressive Building Society account 2,582 3,391 2,358 3,311 5,973 5,669
GLEN RURAL COMMUNITY GROUP (ARMOY) ids. chartered accountants NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024 Accounting poll¢les Charity informatlon Glen Rural Community Group (Armoy) 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 Accounting convention The financial statements have been prepared in accordance with the charity's Igoverning documenti, the Companies Act 2008, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102) and the Charities SORP "Accounting and Reporting by Charities,, Statement ol Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicabl& in the UK and Republic of Ireland (FRS 102)" {effective 1 January 20191. The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded lo the nearest £. The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below. 1.2 Going concern At the time of approving the financial statements, the Trustees have a reasonable expectation that the charity has adequate resources to 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 objectives. Restricted funds are subject to specific conditions by donors or grantors as to how they may be usecl. The purposes and uses of the reslricled 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. 1.5 Expendlture Liabilities are recognised as expenditLJre 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. 1.6 Tangible fixed assets Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
GLEN RURAL COMMUNITY GROUP (ARMOY) ids. chartered accountants NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2024 Accounting policies (Contlnued) Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases.. Freehold land and buildings Fixtures and fittings o/ 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 fixed assets At each reporting end date, the charity reviews the carrying amounts of ils tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable arnount of the asset is estimated in order to determine the extent of the impairment loss (if any). 1.8 Cash and cash equivalents Cash and cash equivalents include cash in hand, deposits 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. Basic financial assets Basic financial assets, which include debtors and cash and bank balance5, are initially measured at transaction pri including transaction cost8 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 liabilitios are derecognised when the charity's contractual obligations expire or are discharged or cancelled. Critical a¢¢ountlng estlmates and judgements 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 estimates 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 basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects cnly that period, or in the period of the revision and future pertods 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.
GLEN RURAL COMMUNITY GROUP (ARMOY) ids. chartered accountants NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2024 Donations and grants Unrestrlcted Restricted funds funds Total Unrestricted Restricted funds funds Total 2024 2024 2024 2023 2023 2023 Donations and gifts 2,480 5,938 8,418 3,342 1,497 4,839 Donations and gifts Ulster Garden Village DAERA- Rural Micro Capital Enkalon Donations 4,000 4,000 1,938 1,938 500 1,980 1,497 1,497 500 2,842 500 1,980 500 2,842 2,480 5,938 8,418 3,342 1,497 4,839 Income from other trading activities Unrestricted Unrestrlcted funds funds 2024 2023 Fundraising events (Whist Drives) 2,396 1,878 Investments Unrestricted Unrestrlcted funds funds 2024 2023 Interest re[Vable 80 24 10-
GLEN RURAL COMMUNITY GROUP (ARMOY) ids. chartered accountants NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2024 Expenditure on charitable activities 2024 2023 Direct costs Rent Telephone Light, Heat & Water Small fixtures and equipment 300 651 724 3,615 903 1,374 7,343 9,620 5,290 Share of support and governance Costs (see note 71 Support Governance 430 540 1,148 510 10,590 6,948 Analysis by fund Unrestricted funds Restricted fund5 4,652 5,938 5,451 1,497 10,590 6,948 Support costs Support Governance costs costs 2024 Support Governance costs costs 2023 Insurance Bank Interest and Fees Accountancy 179 251 179 251 540 900 248 90Q 248 510 540 510 430 540 970 1,148 510 1,858 Analysed between Charitable activities 430 540 970 1,148 510 1,658 Trustees None of the Trustees lor any persons connected with them} reiVed any remuneration or benefits from the charity during the year. Taxation The charity is exempl from taxation on its activities because all its income is app5ied for charitable purposes. 11
GLEN RURAL COMMUNITY GROUP (ARMOY) ids. chartered accountants NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2024 10 Tangible fixed assets Freehold land Fixtures and and buildings fittlngs Total Cost At 1 November 2023 110,847 12,493 123,340 At 31 October 2024 110,847 12,493 123.340 Carrylng amount At 31 October 2024 110,847 12,493 123,340 At 31 October 2023 110,847 12,493 123,340 11 Restricted funds The restricted funds of the charity comprise the unexpended balances of donations and grants hold on trust subject to specific conditions by donors as to how they may be used. At1 November 2023 Incomlng Resources At 31 October resources expended 2024 Restricted 542 5,938 (5,938) 542 Prevlous year: At1 November 2022 Incoming resources Resources At 31 October expended 2023 Restricted 542 1,497 (1 ,497) 542 12 Unrestricted funds The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as lo how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes. At1 November 2023 Incoming resource5 Resources At 31 October expended 2024 General funds 128,467 4,956 (4,652) 128,771 12-
GLEN RURAL COMMUNITY GROUP (ARMOY) ids. chartered accountants NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2024 12 Unrestricted funds (Continued) Prevlous year: At1 November 2022 Incomlng resources Resources At 31 October expended 2023 General funds 128,674 5,244 (5,451) 128,467 13 Analysis of net assets between funds Unrestricted funds 2024 Restricted funds 2024 Total 2024 At 31 October 2024: Tangible assets Current assetsl(liabilities) 123,340 5,431 123,340 5,973 542 128,771 542 129,313 Unrestricted funds 2023 Restrlcted funds 2023 Total 2023 At 31 October 2023: Tangible assets Current assetsllliabilities} 123,340 5,127 123,340 5,889 542 128,467 542 129,009 14 Related party transactions There were no disclosable related party transactions during the year12023 - none). 13-