Registration Number: NI039242
Broughderg Area Development Association Limited
Trustees’ Report and Financial Statements for the Year Ended 30 September 2022
Broughderg Area Development Association Limited
Contents
| Contents | |
|---|---|
| Page (s) | |
| Company Information | 1 |
| Trustees’ report | 2 – 4 |
| Independent Examiners’ report | 5 |
| Statement of Financial Activities | 6 |
| Balance Sheet | 7 - 8 |
| Notes to the financial statements | 9 – 14 |
Broughderg Area Development Association Limited
Company Information
| Trustees | Sean Clarke |
|---|---|
| Patrick McGuigan | |
| Mary B McKenna | |
| Stephen McNamee | |
| Perry McCrory | |
| Anne McDermott | |
| Company Secretary | Mary McKenna |
| Company Number | NI039242 |
| Charity Registration Number | NIC100139 |
| Principal and Registered Office | An Bruagh Dearg Community Centre |
| Broughderg Road | |
| Omagh | |
| BT79 8JN | |
| Bankers | Bank of Ireland UK Plc |
| 21 St Patrick’s Street | |
| Draperstown | |
| Solicitors | J.B. & R.H. Twigg Solicitors |
| 26 Fairhill Road | |
| Cookstown | |
| Accountants | EM Accountants |
| 42A-44A New Row | |
| Coleraine | |
| BT52 1AF |
Page 1
Broughderg Area Development Association Limited
Trustees’ report
The Trustees, who are also the directors of the company for the purposes of the Companies Act 2006, present their annual report and financial statements for the year ended 30 September 2022.
The information with respect to trustees, directors, officers and advisers set out on the information page, forms part of this report. The financial statements comply with current statutory requirements, the Memorandum and Articles of Association, applicable Accounting Standards in the United Kingdom and the Statement of Recommended Practice (SORP) “Accounting and Reporting by Charities”, (FRS 102)
Reference and administration details
Broughderg Area Development Association Limited (the charity), is a charitable company limited by guarantee, incorporated on 7[th] September 2000. It is registered with the Companies Registrar under registration number NI039242. It is also recognised as a charity by the Inland Revenue, XR49843 and registered with the Charity Commission N.I. under reference NIC100139. The trustees and secretary of the charity are listed on the information page. The principal and registered office of the charity is also listed on the information page together with details of the professional advisors and bankers.
Objectives and activities
In shaping our objectives for the year and planning our activities, the trustees have considered the Charity Commission guidance on public benefit. Broughderg Area Development Association Limited aims to reduce the high level of rural and social isolation and deprivation in the area through regeneration by promoting tourism and through the provision of a community centre which delivers a high quality community environment focusing on the needs of families, elderly, youth, women and children. Marginalised groups (disabled, low income, single parents) within the community have parity of access to the centre and its services. The benefit is the improvement of community life through sports and recreation facilities. The provision of the Community Centre benefits the whole community and the social and economic fabric of the area.
Structure, Governance and Management Organisational structure
Broughderg Area Development Association Limited is a company limited by guarantee and recognised as a charity by the Inland Revenue. In terms of company law, charity law and day to day activities, the company is an independent entity. The trustees meet regularly to direct the operations of the charity.
Governance
During the period under review the trustees met monthly. A panel comprised of existing trustees selects members for the board. Trustees serve for a one year period and may be re-elected for a further one year period. The trustees meet approximately 12 times a year. The trustees who served during the year to 30[th] September 2022 are listed on the information page.
Financial Review
The statement of financial activities for the year is set out on page 6 of the financial statements. Income for the year was £14,943 [2021: £10,596] and expenditure was £29,193 [2021: £29,266).
Page 2
Broughderg Area Development Association Limited
Reserves policy
The charity’s policy on restricted funds is to separately record donations, grants and other sources of fundraising where restrictions are imposed that are narrower than the charity’s overall objectives
The trustees have established a policy whereby the unrestricted funds not committed or invested in tangible fixed assets or designated for specific purposes (“the free reserves”) held by the charity should be between six and nine months of the resources expended. At this level, the trustees consider that they would be able to continue the current activities of the charity in the event of a significant drop in income. It would also be necessary to consider how the income would be replaced, or activities changed. At the balance sheet date, the free reserves did exceed the minimum amount.
Achievement and performance
The community centre is used on a regular basis and continues to be a focal point for community life.
Taxation
As a charity, the company is not liable for corporation tax on its income or on capital gains to the extent that these are applied to its charitable objects.
Statement of trustees’ responsibilities in respect of the annual report and the financial statements
The trustees are responsible for preparing the financial statements for each financial year which give a true and fair view, in accordance with United Kingdom Generally Accepted Accounting Practice of the state of affairs of the charity and of the statement of financial activities of the charity for that period. In preparing those financial statements the officers and members of the committee are required to:
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select suitable accounting policies and apply them consistently;
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observe the methods and principles in the Charities SORP;
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departures disclosed and explained in the financial statements:
-
make judgements and estimates that are reasonable and prudent;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The trustees are responsible for the keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and that help ensure that the accounts comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Risk management
The trustees have reviewed the major risks to which the charity is exposed and systems have been established to manage those risks.
Plans for the future
The directors remain confident that the current level of performance will be improved in the future and it is the Trustees’ intention to develop the present activities of the Company.
Page 3
Broughderg Area Development Association Limited
Small company provision
This report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
This report was approved and authorised for use by the trustees on 7th September 2023 and signed on their behalf by:
Sean Clarke
Sean Clarke (Sep 7, 2023 19:06 GMT+1)
Sean Clarke Trustee
Page 4
Broughderg Area Development Association Limited
Independent Examiner's Report to the Trustees of Broughderg Area Development Association Limited
I report on the accounts of the company for the year ended 30[th] September 2022 which are set out on pages 6 to 14.
Respective responsibilities of trustees and examiner
As the charity trustees (and also the directors of the company for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act (Northern Ireland) 2008. Having satisfied myself that the charity is not subject to audit under company law, and is eligible for independent examination, it is my responsibility to:
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examine the accounts under section 65 of the Charities Act (Northern Ireland) 2008;
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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; and
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state whether particular matters have come to my attention.
Basis 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. The examination included a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes 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 matters have come to my attention giving me cause to believe:
-
That accounting records were not kept in accordance with section 63 of the Charities Act 2008
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That the accounts do not accord with those accounting records
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That the accounts do not comply with the accounting requirements of the Charities Act 2008
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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 and have no concerns in respect of the matters (1) to (4) listed 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.
Paul McKillop (Sep 7, 2023 19:12 GMT+1)
Paul McKillop FCCA
EM Accountants Chartered Accountants 42A-44A New Row Coleraine BT52 1AF 7th September 2023
Page 5
Broughderg Area Development Association Limited
Statement of Financial Activities (Incorporating Summary Income and Expenditure Account) for the Year Ended 30 September 2022
| Notes Unrestricted funds Income £ Donations and Legacies28,943 Total income8,943 Expenditure Expenditure on charitable activities Running and operating costs 9,121 Total expenditure3 9,121 Net income/ (expenditure) before transfers5 (178) Gross transfers between funds- Net income/ (expenditure) and movement in funds for the year(178) Reconciliation of funds At 1 October 2021 6,906 At 30 September 202210 6,728 |
Notes Unrestricted funds Income £ Donations and Legacies28,943 Total income8,943 Expenditure Expenditure on charitable activities Running and operating costs 9,121 Total expenditure3 9,121 Net income/ (expenditure) before transfers5 (178) Gross transfers between funds- Net income/ (expenditure) and movement in funds for the year(178) Reconciliation of funds At 1 October 2021 6,906 At 30 September 202210 6,728 |
Restricted funds £ 6,000 |
Total 2022 £ 14,943 |
|---|---|---|---|
| 8,943 | 6,000 | 14,943 | |
| 9,121 | 20,072 | 29,193 | |
| 9,121 | 20,072 | 29,193 | |
| (178) - |
|||
| (178) 6,906 |
(14,072) 179,905 |
(14,250) 186,811 |
|
| 6,728 | 165,833 | 172,561 |
All amounts above relate to the continuing operations of the Company.
The charity has no other gains or losses other than those included in the results above, therefore no separate statement of gains and losses has been presented.
The notes on pages 9 to 14 form part of these financial statements
Page 6
Broughderg Area Development Association Limited
Balance Sheet as at 30 September 2022
| Fixed assets Notes Tangible Assets 7 Current assets Debtors 8 Cash at bank Creditors: amounts falling due within one year9 Net current assets/(liabilities) Net assets Funds employed Unrestricted funds 10 Restricted funds10 10 |
2022 £ 167,447 9,828 7,422 17,250 12,136 5,114 172,561 6,728 165,833 172,561 |
2021 £ 181,964 8,978 5,950 14,928 10,081 4,847 186,811 6,906 179,905 186,811 |
|---|---|---|
The trustees statements required are shown on the following page which form part of the Balance Sheet
The notes on pages 9 to 14 form part of these financial statements
Page 7
Broughderg Area Development Association Limited
Balance Sheet (continued…)
In approving these financial statements as trustees of the company we hereby confirm:
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a) for the year ended 30[th] September 2022, the company was entitled to exemption conferred by Section 477 of the Companies Act 2006
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b) that no notice has been deposited at the registered office of the company pursuant to Section 476 requesting that an audit be conducted for the year ended 30[th] September 2022
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c) that we acknowledge our responsibilities for:
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ensuring that the company keeps accounting records which comply with Section 386; and
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preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit or loss for the year then ended in accordance with the requirements of section 393 and which otherwise comply with the provisions of the Companies Act 2006 relating to financial statements, so far as applicable to the company.
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 and authorised for issue by the board on 7th September 2023 and signed on its behalf by
Sean Clarke
Sean Clarke (Sep 7, 2023 19:06 GMT+1)
Sean Clarke Trustee
Registration Number: NI039242
The notes on pages 9 to 14 form part of these financial statements
Page 8
Broughderg Area Development Association Limited
Notes to the financial statements for the year ended 30 September 2022
1. Accounting policies
1.3 Basis of Accounting
The financial statements have been prepared in accordance with the historical cost convention and comply with financial reporting standards of the Accounting Standards Board and the Statement of Recommended Practice (SORP)’ Accounting and Reporting by Charities (FRS 102) and in accordance with the Charities Act (Northern Ireland) 2008 and Companies Act 2006 and UK GAAP as it applies from 1[st] January 2015. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note. The financial statements are presented in sterling which is the functional currency of the charity.
The financial statements comply with SORP(FRS 102 1A)
1.2 Tangible fixed assets and depreciation
Depreciation is provided at rates calculated to write off the cost less residual value of each asset over its expected useful life, as follows:
Building - 4% Straight Line Fixtures & Fittings - 10% & 20% Straight Line Office Equipment - 20% Straight Line
All fixed assets are initially recorded at cost.
The carrying value of tangible fixed assets are reviewed annually for impairment if events or changes in circumstances indicate the carrying value may not be recoverable.
1.3 Income
Income is recognised on a receivable basis when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy. The specific bases are as follows:
Donations and gifts
Voluntary income received by way of donations to the charity is included in full in the Statement of Financial Activities when received.
Investment income
Investment income is accounted for on a receivable basis.
Grants
Revenue grants are credited to incoming resources on the earlier date of when they are received or when they are receivable, unless they relate to a specified future period, in which case they are deferred.
Grants for the purpose of capital expenditure are credited to restricted incoming resources when receivable and released to revenue over the estimated useful life of the relevant assets.
Page 9
Broughderg Area Development Association Limited
Notes to the financial statements for the year ended 30 September 2022
1.4 Expenditure
All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category.
- 1.5
Debtors and creditors
- Short term debtors and creditors are measured at transaction price (which is usually the invoice price). Debtors are stated after all known bad debts have been written off and specific provision has been made against all debts considered doubtful of collection.
1.6 Fund accounting
The charity has various types of funds for which it is responsible and which require separate disclosure. Definitions of the various types of funds are as follows.
Restricted funds
Restricted funds are to be used for specific purposes as laid down by the donor. Expenditure which meets these criteria is identified to the fund, together with a fair allocation of overheads and support costs.
Unrestricted Funds
Unrestricted funds are donations and other incoming resources received or generated which are expendable at the discretion of the charity in furtherance of its objectives.
Designated funds
Designated funds comprise unrestricted funds that have been set aside by the trustees for particular purposes, the aim and use of each designated fund is set out in the notes to the financial statements.
1.7 Going Concern
There are no material uncertainties about the charity’s ability to continue.
Page 10
Broughderg Area Development Association Limited
Notes to the financial statements for the year ended 30 September 2022
2. Donations and Legacies
| Generated Income Mid Ulster District Council Grant Funds DAERA Mid Ulster District Council Donation |
Restricted £ - 6,000 - 6,000 |
Unrestricted £ 226 8,717 - - 8,943 |
2022 £ 226 14,717 - - 14,943 |
2021 £ - 9,000 1,496 100 |
|---|---|---|---|---|
| 10,596 |
3. Expenditure on Charitable Activities
| Accountancy Bank Charges Catering Supplies Light & Heat Insurance Repairs & Maintenance Telephone Travel Postage/ Stationery Water Rates Sundry Expenses Depreciation Total Expenditure |
Restricted £ - - - 1,192 1,045 - - - - - - 17,835 20,072 |
Unrestricted £ 1,200 126 60 3,114 421 1,719 548 - 639 82 180 1,032 9,121 |
2022 £ 1,200 126 60 4,306 1,466 1,719 548 - 639 82 180 18,867 29,193 |
2021 £ 1,000 121 68 1,931 1,438 4,101 522 - 765 114 182 19,024 |
|---|---|---|---|---|
| 29,266 |
Restricted expenditure in the year to 30[th] September 2021 is as follows:- Light & Heat £1,852, Insurance £1,438, Depreciation £18,091.
4. Trustees’ emoluments
The trustees neither received nor waived any emoluments during the year [2021: NIL]. Out of pocket expenses of £60 [2021: £68] was reimbursed to 1 [2021: 1] trustee during the year.
5. Net movement in funds
| 5.Net movement in funds | |
|---|---|
| 2022 2021 | |
| £ £ | |
| Net movement in funds is stated after charging: | |
| Depreciation charge for the year | |
| Tangible Fixed Assets - owned | 18,867 19,024 |
| Independent Examiner’s remuneration | 1,200 1,000 |
Page 11
Broughderg Area Development Association Limited
Notes to the financial statements for the year ended 30 September 2022
6. Taxation
No provision for taxation is required as the Company has charitable status approved by HM Revenue & Customs.
7. Tangible Fixed Assets
| Buildings £ Cost At 1 October 2021 433,532 Additions- Disposals - At 30 September 2022433,532 Depreciation At 1 October 2021 255,385 Charge for the year 17,341 Disposals - At 30 September 2022272,726 Net book value At 30 September 2021178,147 At 30 September 2022 160,806 8. Debtors Amounts falling due within one year Trade Debtors Prepayments Value added taxes 9. Creditors: amounts falling due within one year Trade creditors Accruals Other creditors |
Fixtures and fittings £ 7,169 4,350 - 11,519 6,797 404 - 7,201 372 4,318 2022 £ 9,603 225 - 9,828 2022 £ 4,309 1,402 6,425 12,136 |
Office equipment £ 34,833 - - |
Total £ 475,534 4,350 - 479,884 293,570 18,867 - 312,437 181,964 167,447 2021 £ 8,386 224 368 8,978 2021 £ 2,352 1,304 6,425 10,081 |
|
|---|---|---|---|---|
| 34,833 | ||||
| 31,388 1,122 - |
||||
| 32,510 | ||||
| 3,445 | ||||
| 2,323 | ||||
Page 12
Broughderg Area Development Association Limited
Notes to the financial statements for the year ended 30 September 2022
10. Funds
| 0. Funds | |||||
|---|---|---|---|---|---|
| Restricted Funds Grants Unrestricted funds General reserve Total funds |
Balance at 1 October 2021 £ 179,905 6,906 186,811 |
Incoming Resources £ 6,000 8,943 14,943 |
Resources expended £ (20,072) (9,121) (29,193) |
Transfers, investment gains/(losses) £ - - - |
Balance at 30 September 2022 £ 165,833 |
| 6,728 | |||||
| 172,561 |
International Fund for Ireland and The Northern Ireland Rural Development Council have a charge over the assets of the company. The Big Lottery Fund also has a legal charge over the company property.
Funds
| unds | |||||
|---|---|---|---|---|---|
| Restricted Funds Grants Unrestricted funds General reserve Total funds |
Balance at 1 October 2020 £ 196,790 8,691 205,481 |
Incoming Resources £ 4,496 6,100 10,596 |
Resources expended £ (21,381) (7,885) (29,266) |
Transfers, investment gains/(losses) £ - - - |
Balance at 30 September 2021 £ 179,905 |
| 6,906 | |||||
| 186,811 |
International Fund for Ireland and The Northern Ireland Rural Development Council have a charge over the assets of the company. The Big Lottery Fund also has a legal charge over the company property.
Page 13
Broughderg Area Development Association Limited
Notes to the financial statements for the year ended 30 September 2022
11. Analysis of net assets between funds 30 September 2022
| Tangible Fixed Assets Net current assets/(liabilities) Total net assets/(liabilities) |
Unrestricted funds £ 6,592 136 6,728 |
Restricted funds £ 160,855 4,978 165,833 |
Total 2022 £ 167,447 5,114 172,561 |
Total 2021 £ 181,964 4,847 |
|---|---|---|---|---|
| 186,811 |
Analysis of net assets between funds 30 September 2021
| Unrestricted | Restricted | Total | Total |
|---|---|---|---|
| funds | funds | 2021 | 2020 |
| £ | £ | £ | £ |
| Tangible Fixed Assets 6,274 | 175,690 | 181,964 | 198,993 |
| Net current assets/(liabilities) 632 | 4,215 | 4,847 | 6,488 |
| Total net assets/(liabilities) 6,906 | 179,905 | 186,811 | 205,481 |
12. Contingent liabilities
A contingent liability exists to repay grants received should certain conditions not be fulfilled by the Company. In the opinion of the trustees the terms of the letters of offer have been complied with and a liability is not expected to arise.
The Company had no other contingent liabilities at 30 September 2022 (2021: NIL).
13. Capital commitments
The Company had contracted for capital commitments of £7,800 at 30 September 2022 (2021: £7,800).
14. Company limited by guarantee
The Charity is a private company limited by a guarantee and incorporated in Northern Ireland (Registration number NI039242) and as such it does not have a share capital.
Every director being a member of the Executive Committee undertakes to contribute to the assets of the Company, in the event of same being wound up while he is a member, or within one year after he ceases to be a member, for payment of debts and liabilities of the Company contracted before he ceases to be a member, and of the costs, charges and expenses of winding up, and for the adjustment of the rights of the contributors among themselves, such amount as may be required not exceeding £1.00.
15. Ultimate controlling party
The Company has no controlling party.
Page 14
2023-09-07
2420 BADA 30.09.2022
Final Audit Report
Created: 2023-09-07 By: EM Accountants (info@emaccountants.co.uk) Status: Signed Transaction ID: CBJCHBCAABAAz-sBOsaJb23tUH5i98qYdOSPM3nLuerM
"2420 BADA 30.09.2022" History
Document created by EM Accountants (info@emaccountants.co.uk)
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Document emailed to clerke@hotmail.com for signature
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