Receipts and Payments Account for year ended 31 March 2024
| Notes Unrestricted Funds Restricted Funds Total Funds Last Year 2023 |
Notes Unrestricted Funds Restricted Funds Total Funds Last Year 2023 |
Notes Unrestricted Funds Restricted Funds Total Funds Last Year 2023 |
Notes Unrestricted Funds Restricted Funds Total Funds Last Year 2023 |
|---|---|---|---|
| RECEIPTS | |||
| Funding Receipts 3 £527.00 £66942.00 £67469.00 £31900.00 |
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Room Hire/Power NI £48.00 - £48.00 £710.00 |
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| Donations/Fundraising 4 £9984.00 £1686.00 £11670.00 £4245.00 |
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| Gift Aid - - - £1688.00 |
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| Refunds £135.00 £619.00 £754.00 £207.00 |
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| TotalReceipts £10694.00 £69247.00 £79941.00 £38750.00 |
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| PAYMENTS | |||
| Wages and Salaries 8 - £8859.00 £8859.00 £15302.00 |
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| Charity Running Costs 5 £5820.00 £15536.00 £21356.00 £10771.00 |
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Administration Costs £108.00 - £108.00 £178.00 |
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| Bank Fees £276.00 - £276.00 £86.00 |
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| Other Expenses 9 £3681.00 £30836.00 £34517.00 £3842.00 |
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Depreciation - £1549.00 £1549.00 - |
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| Equipment - - - £5713.00 |
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| TotalPayments £9885.00 £56780.00 £66665.00 £35892.00 |
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| Net Income (Expenditure) £809.00 £12467.00 £13726.00 £2858.00 |
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| Net Movement of Funds £809.00 £12467.00 £13726.00 £2858.00 |
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| RECONCILIATION OF FUNDS | |||
| Total Funds Brought Forward £954.00 £2849.00 £3803.00 £945.00 |
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| Total Funds Carried Forward £1763.00 £15316.00 £17079.00 £3803.00 |
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On Behalf of the Trustees
Trustee 1 Trustee 2
Statement of Assets and Liabilities as at 31 March 2024
| Notes | 2024 | 2023 | |
|---|---|---|---|
| Fixed Assets | |||
| Tangible Fixed Assets | 9 | £6197.00 | - |
| Total Fixed Assests | £6197.00 | - | |
| Current Assets | |||
| Cash and Cash Equivalents | £10882.00 | £3803.00 | |
| Total Current Assets | £10882.00 | £3803.00 | |
| Creditor's amounts falling due within one year | - | - | |
| Total Creditor's | - | - | |
| Net Current Assets | £10882.00 | £3803.00 | |
| Total Net Assets | £17079.00 | £3803.00 | |
| Funds | |||
| Unrestricted Funds | £1763.00 | £954.00 | |
| Restricted Funds | £15316.00 | £2849.00 | |
| Total Funds | £17079.00 | £3803.00 |
On Behalf of the Trustees
Trustee 1
Trustee 2
Notes to the Financial Statements
for the year ended 31 March 2024
1. Accounting policies
The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows:
a) Basis of preparation
The financial statements have been prepared on a going concern basis in accordance with 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 102) – (Charities SOR (FRS 102)).
The Charity meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost and transaction value unless otherwise stated in the relevant accounting policy note(s).
b) Preparation of accounts on a going concern basis
The charity generally meets its day to day working capital requirements from its annual income. The Trustees have obtained and reviewed cash flow forecasts for the coming year and based on these are satisfied that the Charity has resources to provide a reasonable expectation that it can continue to meet its financial obligations as they fall due for the foreseeable future . Therefore these financial statements have been prepared on a going concern basis.
c) Income
Collections, donations, event income and fundraising income are accounted for on a cash receipts basis as the amount is collected.
Income from government and other grants, whether 'capital' grants of 'revenue' grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred.
d) Expenditure
Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably.
Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.
e) Tangible assets
The assets of the charity comprise:-
-
Equipment
-
Fixtures and fittings
Notes to the financial statements for the year ended 31 March 2024 (continued)
1. Accounting policies (continued)
Fixtures and fittings are recognised at cost and are depreciated on a straight line basis over a period of 5 years. The assets’ residual values and useful lives are reviewed, and adjusted, if appropriate, at the end of each reporting period. The effect of any change is accounted for prospectively.
Tangible assets are de-recognised on disposal or when no future economic benefits are expected. On disposal, the difference between the new disposal proceeds and the carrying amount is recognised in the statement of financial activities and included in ‘Other operating (losses)/gains’.
f) Cash and cash equivalents
Cash and cash equivalents includes cash in hand, deposits held at call with banks.
g) Funds
Funds are classified as either restricted funds or unrestricted funds, defined as follows.
Restricted funds are funds subject to specific requirements as to their use. which may be declared by the donor or with their authority or created through legal processes, but still within the wider objects of the charity.
Unrestricted funds are expendable at the discretion of the Trustees in furtherance of the objects of the charity. If parts of the unrestricted funds are earmarked at the discretion of the Trustees for a particular purpose, they are designated as a separate fund. This designation has an administrative purpose only and does not legally restrict the Trustees’ discretion to apply the fund.
2. Critical Accounting Judgements and estimation uncertainty
Estimates and judgements made in the process of preparing the financial statements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The Trustees do not consider that there are any critical judgements made in applying the Charities accounting policies or that there are any critical accounting estimates or assumptions which may have a significant risk of causing a material adjustment to carrying amounts of assets and liabilities within the next financial year
Notes to the financial statements for the year ended 31 March 2024 (continued)
| Unrestricted | Restricted | |||
|---|---|---|---|---|
| 3 | Fund 2024 | Funds 2024 | Total 2024 | Total 2023 |
| £ | £ | £ | £ | |
| Funding Receipts | ||||
| National Gardens | - | 4,040 | 4,040 | - |
| Ipads | - | 1,920 | 1,920 | - |
| Telecommunity | - | 1,829 | 1,829 | - |
| Lottery | - | 10,000 | 10,000 | - |
| John Moore | - | 1,570 | 1,570 | - |
| Education Authority | - | 2,981 | 2,981 | - |
| SC1 | - | 2,650 | 2,650 | - |
| VHT | - | 2,350 | 2,350 | - |
| ABC Council | - | 2,238 | 2,238 | 5,400 |
| Arnold Clark Fund | - | - | - | 1,000 |
| Awards for All | - | - | - | 10,000 |
| NIHE | - | 36,376 | 36,376 | 9,800 |
| Electricity Safety Fund | - | - | - | 4,200 |
| All State | 527 | 988 | 1,515 | 1,500 |
| 527 | 66,942 | 67,469 | 31,900 | |
| Unrestricted | Restricted | |||
| 4 | Fund 2024 | Funds 2024 | Total 2024 | Total 2023 |
| £ | £ | £ | £ | |
| Proceeds from Donations/ Fund raising events |
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| Donations Community Fridge | 1,368 | 632 | 2,000 | 800 |
| Community Fridge sales | 2,948 | - | 2,948 | - |
| Donations | 1,139 | 1,054 | 2,193 | |
| Fundraising/fees | 4,529 | - | 4,529 | 3,445 |
| 9,984 | 1,686 | 11,670 | 4,245 |
Notes to the financial statements for the year ended 31 March 2024 (continued)
| 5 | Unrestricted Fund 2024 |
Restricted Funds 2024 |
Total 2024 | Total 2023 |
|---|---|---|---|---|
| Charity Running Costs | £ | £ | £ | £ |
| Insurance | 410 | - | 410 | 383 |
| Utilities | 692 | - | 692 | 533 |
| Food | 549 | 3,168 | 3,717 | 1,393 |
| Activities & events | - | 11,736 | 11,736 | 6,998 |
| Room hire | - | - | - | 407 |
| Community fridge | 4,169 | 632 | 4,801 | 1,057 |
| 5,820 | 15,536 | 21,356 | 10,771 | |
| 6 | Unrestricted Fund 2024 |
Restricted Funds 2024 |
Total 2024 | Total 2023 |
| £ | £ | £ | £ | |
| Other expenses | ||||
| Sundries | 3,681 | - | 3,681 | 3,792 |
| Training expenses | - | 2,400 | 2,400 | - |
| Professional & legal fees | - | 28,436 | 28,436 | 50 |
| 3,681 | 30,836 | 34,517 | 3,842 |
7 Taxation
Killicomaine Residents Group is recognised as a charity for the purposes of applicable taxation legislation and therefore, is not subject to taxation on its charitable activities.
8 Analysis of staff costs, Trustee remuneration and expenses, and the cost of key management personnel
Employees
| Wages Analysis | ||
|---|---|---|
| 2024 | 2023 | |
| £ | £ | |
| Salaries and Wages | 8,859 | 15,302 |
| National Insurance | - | - |
| Pensions | - | - |
| 8859 | 15302 |
The average number of employees during the year, calculated on the basis of head count was 1. There are no employees in receipt of employee benefits in excess of £60000
Notes to the financial statements for the year ended 31 March 2024 (continued)
Key Management and Trustees
Key Management are deemed to comprise the Trustees. No trustee who held office during the year received any employment income or other reimbursements during the year.
| DEPN to |
NET BOOK VALUE AT |
DEPN | NET BOOK VALUE AT |
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|---|---|---|---|---|---|---|---|
| 9. Tangible Assets | COST | DATE | 31.03.23 | ADDITION | DISPOSAL | CHARGE | 31.03.24 |
| £ | £ | £ | £ | £ | £ | £ | |
| Ipads | - | - | - | 2,358 | - | 471 | 1,887 |
| Hungry bin | - | - | - | 390 | - | 78 | 312 |
| Printer | - | - | - | 685 | - | 137 | 548 |
| Bean bags | - | - | - | 624 | - | 125 | 499 |
| Vegetable cages | - | - | - | 425 | - | 85 | 340 |
| Polytunnel | - | - | - | 1,350 | - | 270 | 1,080 |
| Potting shed | - | - | - | 1,914 | - | 383 | 1,531 |
| Total Tangible Assets | - | 7,746 | - | 1,549 | 6,197 |
| 10. Funds of the Group |
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|---|---|---|---|---|---|
| At 01 Apr | Incoming | Outgoing | At 31 Mar | ||
| 2023 | Resources | Resources | Transfers | 2024 | |
| £ | £ | £ | £ | £ | |
| Restricted Funds | |||||
| Danske Bank | 2,849 | 69,247 | (56,780) | - | 15,316 |
| 2,849 | 69,247 | (56,780) | - | 15,316 | |
| Unrestricted Funds | |||||
| Danske Bank | 954 | 10,694 | (9,885) | - | 1763 |
| Total Funds | 3,803 | 79,941 | (66,665) | - | 17,079 |
Notes to the financial statements for the year ended 31 March 2024 (continued)
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Fixed assets | 6,197 | - |
| Cash and cash equivalents | 10882 | 3803 |
| 17079 | 3803 |
11. Analysis of Net Assets Among Funds
| General | Restricted | 2024 | 2023 | |
|---|---|---|---|---|
| Fixed Assets | £6197.00 | £6197.00 | ||
| Current Assets | £1763.00 | £9119.00 | £10882.00 | £3803.00 |
| Current Liabilities | - | - | - | - |
| Net Assets at 31 March | £1763.00 | £15316.00 | £17079.00 | £3803.00 |