Charlty number; XR29759, NIC IIMb209 Company number: N1034587 Greater Shantallow Area Partnership Limited (A company limited by guarantee) Trustees, report and financlal statements for the year ended 31 March 2024
Greater Shantallow Area Partnership Limited (A company limited by guarantee) Contents Page Legal and adminislrativ¢ information Trustees, report 2.11 Auditors, report lo the Irusiees 12-14 stalennI of financial aclivities 15 Balance sheet Cash flow siaiemeni 17 Noles to the finala1 slat¢ments 18-17
Greater Shantallow Area Partnership Limlted (A company limited by guarantee) Legal and administrative information Charlty number XR29759, NIC 100209 Company reglstratlon number N1034587 Buslness addre& Unil C3 & C4 Northside Village Centre Glengalliagh Road BT48 8NN Reglstered office Unit C3 & C4 North5idc Village Cenlte Glengalliagh Road Deffy BT48 8NN Trustees Peter McDonald M&nin Connolly Rosernary Doherty Tony Hasson Caihal Mccauley, Sandra Duffy & Vivienne Lynoll Charles McDaid Marie Gillespie & Elaine Young Brian Tierney & Michael Doyle Caolan Compbell & Frafteis G Mcmonagle Resigned 03.09.2024 Resigned 0610612022 Resi8ned 19.02,2024 Appoinied 1410212022 & 06104r2022 SecretAry Caihal Mccauley Project manager Rory McParland Auditors Shaun McGinty & Co (Si&tulOry Auditor) charted Accountanis 44 Woodbrook Derry BT48 8FF Bankers Allied Irish Bank Meadowbank Slrand Road Derry B T48 7TN Solicitors Hasson & Co Soliciiors 39141 Clarendon Street Derry BT48 7ER Page I
Greater Shantallow Area Partnership Limited (A company limited by guarnntee) Report of the trusteos (Incorporating the directors, report) for the year ended 31 March 2024 The Iste¢S present their repon and Ihe financial slalemenls for the year ended 31 March 2024. The financial siaiements are prepared in accordance with the CoTnpanies Acl 2006, Ihe Charities Act (NI) 2008, FRS 102 "The Financial Reporting Slandard applicable in the UK and Republic of Ireland. and Accounling and Reporting by Charities- Sialemenl of Recomrnended Praclice applicable 10 charilies p paring their finAneial staiements in accordance wilh ihe Financial Reporting Siandard applicable in ihe UK and Republic of Ireland IFRS 102). The Trustees Report contains Ihe inforrnaiion required to be provided in the Trusiees Annual Report under ihe Siaiemeni of Recommended Practice (SORPI guidelines. The directors of ihe company are also charity inJsi¢es for Ihc purpose of chariiy law and undcr lh¢ cornpany's conslilution ar¢ known as members of the board of truslees. In ihis repon the trustees preseni a summary of its purpoK. governanc¢, aclivili¢s. achievemenis and finances for the finaneial year ended 31 March 2024. Directors and trustees The trustees. who are also direciors of Greaier Shantallow Area Partnership Limited for the puryx)ses of company law and who served during Ihe year and up lo the dale of Ihis report are sel out below. Tntee$ Peier McDonald Martin Connolly Rosemary Doherty Tony Hasson Cathal Mccaulcy. Sandra Duffy & Vivienne Lynoii Charles McDaid Marie Gillespic & Elaine Young Brian Tierney & Michael Doyle C41)lan Campbcll & Fruncis G McMonagl¢ Resigned 03.09.2024 Resigned 0610612022 Resigned 19.02.2024 Appointed 1410212022 & 0610412022 Secretary Calhal Mccauley Referenee and admlnlstratlve delalls Charfty number Company reglstratlon number Registered otylce XR29759, NIC 100209 N1034587 Unil C3 & C4 Northside Village Cenire, Derry, BT48 8NN Key personnel Project manager Rory McParland Advtsers Auditors Shaun McGiniy & Co (Sialutory Auditor) 44 WoodbTook, Derry, BT48 8FF Allied Irish Bank Strand Road. Dey. BT48 7TN Hasson & Co 39141 Clarendon Sireet, Detry, BT48 7ER Bankers Solleltors Page 2
Greater Shantallow Area Partnership Limited (A company limited by guarantee) Report of the trustees (ine(trryorating the direclors, report) for the year ended 31 March 2024 Structure? governance and management The Gr¢al¢r Shaniallow Area Partnership Limited is a charitable company limited by guarantee not having any Share capital and registed under the Companies Act 2006. The charitable company's governing d(Kumenl is ihe Memorandum and Articles of Association. BoArd of Directors The charity is governed and directed by a voluntary board which currenily comprises 13 people from varied baekgrounds and skill sets. The aim of the board is lo provide leadership and develop strategy as well as to ensure good governance and financial control. New Board members undergo induction training lo brief ihern on roles and responsibilities and their legal obligations under charity and company law, the committee and the decision-making processes, Ihe stra81C and operational planning processes. the organisoiional sinlUre and key organisaiional activities. The Board ensures the good governance of the organisaiion by seiting its straiegic objectives and tM)li¢y direciion Ihroush GSAFS Ihree year slraiegi¢ plan, and monitoring Progre on this through the annual opeialional planning proce55 Appolntmen¢ and Rellrement of Dlreclors Ai each annual general meeling one-third of the directors who are subjeci to relirement by rotation shall retire. The d1CtorS lo reli shall be those who have been lon8esl in Olce from their last appointment or reappointmenÉ. If the company docs noi fill Ihe vacancy the reiiring director shall be deemed to have been reoppoinied unless al Ihe meeiing li is resolved not 10 fjll Ihe vacancy or unless a resolution 10 reoppoini the direclor is pui (o Ihe meeting and is losi. Board Meetlngs The board of direciors mcl 5 times during Ihe year and there were usually 6 direc(ors in aiiendance. These meetings include a direclors meeting in December 2023 when the March 2023 aecounts were approved. Officer Board There is also a smaller Officer B02rd, which Consists of the Chairperson, rhe Company Secretary and Ihe Treasurer, which is constiluled by the company and which meets whenever required during Ihe year, The Officer Board would Usually meei a couple of limes each year. The main meeting of the olcer Bo&rd is (he meetin8 to discuss and review the financial slalements for the year. Following on from this Officer Board meeting Ihe full Accounts are presenied 10 and approved by ihe full Board of Direc(ors ai rhe company's AGM. Senlor Management The Project Manager. appointed by the Board. manages the day 10 day operations of the organisaiion, To facililale effective operalions, Ihe Manager has delegaied auihority for operaiional mallers includin8 the application and monitoring of strategic &nd operational objectives. attends all board meetings and updates the directors on Ihe charily's current financial and operational position. AII GSAP proje¢l staff report directly to the projecl manager. Compllance wlth Sector.Wld¢ IKgtslallon and Standards The charity engages pro•Aciively wilh le8islation. standards and codes which are developed for the secior in (he UK and Northern Ireland. The charity subscribes to und is compliani wilh ihe Companies Aci 2CQ6; The Charities SORP (FRS 102) and the Charilie5 Act (Northern Ireland) 2(K)8. Health and Safety The charity ensures ihe well-being of ils employees. clienis and cusiomers Ihrough the siricl adhere¢ lo heallh and safely standards. Systems are in place to ensure ihat employees are aware of and implement the Charity's health and safety requirements. Employees are required lo work in a safe manner u5 mondaled by law and best praclice. Page 3
Greater ShantAllow AreA Prdrtnershlp Llmlted (A company limited by guarantee) Report of the trustees (incorporating the directors, report) for the year ended 31 March 2024 Risk Management & Prlnclpal Rlsks The directors have examined the major strategic, business and operational risks which the charily faces and confirms ihat sysleJyKs have been esiablished io enable regular re)rtS to be produced 50 that ihe necessary step5 can be taken lo le55en these risk5. The principal risk to Ihe charity is if ils CO funding was noi renewed by Dfc. The charity has esiablished a risk managemeni process, which will ensure that the or8anisation manages and mitigates risk in line with ihe agreed risk of the organisalion. The charity mainiairts an Issues log and Risk register which are reviewed re8ularly and acied upjn by the Board. Having primary responsiblliiy for risk management, Ihe Board regularly consider the main slralegic, business and operational risks facing the eharity. The direeiors confirni effective cortirols and reporting systems are in place lo lessen these risks. Objectlves and actlvltles The company's obje¢is are 10 promote the benefit of the inhabitants of the Greater Shanlnllow Area without distinction of 8ender, race or polliical. religious or other opinions by advancing educaiion, relieving poverty, preserving healih and providing facilities in the inte8($ of social welfare for recreation &nd leisure lime occupaiion with the objeci of improvin8 the condiiions of life for Ihe said inhabilanls. Aims, ACtIviti & Public Benefit We review our aims, objectives and activities each year. This review looks al what we achieved and the ouicomes of our work in the previous 12 monihs. The review looks ai Ihe success of each key aciiviiy and the benefits they have brou8hi to those groups of people we are sel up to help. The review also helps us ensure our aim, objectives and activities remained focused on our siaied purposes. Ln setiing our objectives and planning our activities for Ihe year the trustees have given careful ¢onsidcration lo the Charily Commissivn for Nl's guidance on public benefit to ensure that the aclivilies have helped lo achieve the charity's purposes and provide a benefit lo the bencficiaries. To cffeclivcly deliver on our purpose and meet our objectives, GSAP currenily employed 25 staff (16 full lime & 9 part-iime) and buy in when required a rangc of specialised service providers such as speech and language thefApisi. ounsellL)rs and essenlial skills iuiors and oiher industry specific tutors and facilitators whenever this is necessary io ensure the benefii is provided to our beneficiuries. The Iruslees can confirm that there has been no harm flowing from ils purpose5. The focus of our work Our main objectives for the year coniinue io be improvin8 the qualiiy of life of residents living within ihe Greai¢r Shantallvw, Outer North and Ballyarneti DE area. The siraiegies we used 10 meei Ihese objeciives included.. Providing a broad range of services, PTogr¥4mmes and aclivilies 10 individuals, families and communities within the Grealer 5hanlallow Area lo help address the problems associated with living in poverly, lo help improve resideni's health and well-bein8. 10 increase Iheir skills and qualifications and overall improve Iheir quality of life; Focusing on inforn]ing. supp)rtin8 and strengihenin8 the communiiylvolunlary sector operdling in the area and Working in partnership with other agencies io establish social. community and economic improvemenis within Ihe area, develop new communiiy infrMslru¢iure and secure the widest range of services available that helps meet the needs of the populalion, Our aims fully reflect the purposes thai the charily vrds sel up lo fvrther. WIK) are the intended beneficiaries? Residents of all a8es living within the Greater Shantallow l Outer North l Ballyamett DE Affa Communityivoluniary groups operating wiihin the Greaier ShAniallow l Ouier Nonh l Ballyarnett DE Area, How Our Actlvltles Dellver Publlc Benefit Puiiin8 these strategies into action for our intended beneficlaries, GSAP has {3) Ihree major areas of aciiviiy under the Ihemes of 'A Iarning Communit, 'An Influenti81 Community, 2nd 'An Active Communiiy. A Learnlng Communlty Provide capacity building. technical assistance in community development and good governance and financial infoladvice and support with funding applicationsltenders/fundraising io Communilylvoluntary groups each year. Provide local, accessibl¢, compreh¢nsiv¢ personal d¢v¢lopm¢nl and Iraining (formallinforfftal) to residents each year Train and support existing front-line workers each year Page 4
Greater Shantallow Area Partnership Limited (A company limited by guarantee) Report of the trustees (incorporating the directors, report) for the year ended 31 March 2024 An Influenlal Community Organise 2ndlor faciliiaie nerworking events each year wilh local residents, government agencies and communiiylvoluntary groups and a series of partnership nKelings lo advance the physical and social Tegeneralion of the area, promole s(Kial inclusion and fflaintain linkages with key organi5alion. Annually, encourage and support GSAP smff & Dire¢lors, Ifal ¢ommunitylinleresl groups and residents to seek andlor mainthin represeniation on communitylvoluntary and slatulory bodies at a strategic level. An Attive Communfjty Recruit, trAin and support volunteers each year * Work with a range of partneTS to actively engage residents in ihe life of the community, improvc their quality of life and secure inveslmcnl lo upgrade existing and develop new ¢ornmunily and social infrastructurelfacilities in ihe area. Through project development. Trdvice, infomiation. support and lor project management protec safeguard 10 exisiin8 inte8raled community led. local services and help develop new integrated community led local services each year to meei ihe needs of local residents and imwove Ihe social, Community and economic well-being of the area. Achlevements and perforniance Flnanclal Results The charily's SuItS And finAncial position for the yellr ended 31 March 2024 are as slated in the slat¢m¢nl of financial activilics and balancc shc¢t whi¢h ar¢ in¢luded in this report. Achlevements durlng the year The main achicvcmenls and performance of GSAP during the year are set out below. The benefjls are demonslraled Ihrough ff gular feedback from individuals. families, communilylvolunlury groups and service uscrs. We measure impact using a range of tools (pre and post quesiiona1s, examinatioe$l re8ulis. Outcome based Accouniability (OBA) rekK)rt cards. official 8overnmenl slalislics eic.) and, if required, commissioned independeni ¢valuations of our services. We engage with service users through established forums and sieering groups, We evaluaie all programmes and make changes as appropriate, based on panicipanl fedback. Key analytical summary points under each theme are as follow5: A Learning Communlty 39 local communilylvoluntary groups were provided with cttpacily building athl technical assisiance in communily developm¢nl and go(MJ governance. which helped io build Iheir confidence, increase their skills and enhance their ability to cffecl change for themselves and their community. In addition, groups received financial info ladvice and support completing fundin8 applications. which enabled Ihem lo learn new skills in relation 10 fundraising and improve Iheir ability 10 access. secure, and manage addiiional financial resources eicIentIY and effeciively thus helping to sustain their activitieslservices. 95 existing fronl-line workers were provided with training and support in areas such as Good Governunce Troining, Finance for Non-Financial Manager5 Training, Child Proieclion Training, Firsi Aid training etc, which enabled them to build their kIw1edge and skills. prornofr good 8ovemance, engage beller with the communilies they serve and contribute to communily building inilialives. 9 Communiiylvoluniary groups received advice. information and ongoing support lo register as a charity wilh the Charity Commission complete their online annual reiurns. Page 5
Greater Shantallow Area Partnershlp Limited {A company limited by guarantee) Report of the trustees (incorporating the directors, report) for the year ended 31 March 2024 A Learnlng Community continued 899 children aged O 10 3 years panicipated in a range of early intervention programmes throughout our Talking to Our Babies programm¢ and 306 parents of children aged O 10 3 years old participaled in a range of early inlerventiOfLlparenting 5UPPOrt programmes wilh an addilional 85 parenlslcarers completin8 job sjxcific training such as Makalon, Aulism level 2 & 3, Child Proieclion. Paediatric FiTSi Aid. 136 parentslcnrers and 137 children and young people eompleied our 8 week Fnmilies Connecr programme. Fa. 184 residents participated in the GSAP Success North Wesl programme, funded via lh¢ Shared Prosperity Fund, completing 370 educational qualifications in courses such First Aid, Mental Health First Aid, CSR, Food Hygiene, COSHH, Infeclion Conlrol, Working at Heights, Food safely, Manual handling. Forklifi induction, Abrasive Wheels, H & S in Catering and a range of soft skill sessions. In addilion, 44 participanis gained employment as a result of participation on Ihe Success North Wesi Pro8ramme. GSAP completed 6 cross communilyl good relations ouireach progrAmmes during ihe year. These included the annual "Heart of the Community" festival in nnerShIp with St Brigid's College which was attended by 667 Ioc¢il rc5idcn15, the "Merhaba"(Welcom¢) Fun Day celebrating West African culture. GSAP facililaled Ihc dclivcry of a Traveller Support Initiative in the Outer NorthlBallyarneti DE area during the March 2024 year. GSAP provides ongoing support infrastructure. technical assistance and advice lo a wHs employee based in the GSAP offices at Northside, the Skeoge Connecting Communities PYo8fAmme (Mark l & II), funded by T:BuC, and the "Women United" Programme, which is a joini proBramme beiween Galliagh Womens Group and CawlNelson Drive Womens Group. An Influentlal Communlty 13 networking events wer¢ or¥anised andlor facilitated by GSAP which enabled local groupslresidenis 10 share knowledge, skills, and resources and strengthen and build new relaiionships. including Ihe Skeo8e Health Aciion Rescarch Projeci in partnership wilh Developing Healiyh Communities, the PHA, Iwal GPS. the Healihy Living Cenire Allionce. Skeoge Community Association and University of Ulsier: ongoing neiworking with Boomhall Trust regarding the resior4tion of the Boomhall Estale and slables- the Food Poverty Parlnersssship io tackle the on8oin8 issue of food poverty- DE'5 Reducing Educational Disadvaniage Inilialive., Save 'fhe Children and GSAP'S ETHOSS Family Support Hub in order io secur additional resources lo facililate the delivery of a range of Summer & Winter of Play aclivilies for local di5advaniaged families; ongoin8 networking Wlth APEX Housing A5s0cialion regarding the redevelopment of the vaeant lands ai skeoge inio new sociavcommunily facililies; ongoing work and support 10 aid Ihe redevelopment of the Gmlliagh Linear Park; ongoing work with the Healih Living Cenlrc Alliance in support of GSAP'S bid lo become a member of the network of Ihe Healihy Living Cenlre Alliance; andthe on80ing partnership wilh DC & SD Council in order lo develop the new PeacePlus funded "Skeo8e Uniied" project. Ongoing neiworking with Ouier North NR Partnership, DC & SD Council aNI a range of local prnviders. including On Sireel Community Youth Initiative, Skeoge Communiiy ASSlatIon, culmorecommunily Partn¢rship, Shanlallow Youih Inlervenlion Group. Galliagh Residenls Association, Rainbow Child & Family Cenlre. and Galliagh Community Centre, to securea range of funding opportunities. including a £15K consensual grant during the year to underpin community services in the new Galliagh Community Ccnire, with GSAP assuming the lead partner rolefor the programme. Ongoing diu$$I0nS wilh a range of local sports clubs. including both soccer and Gaelic clubs. to advance piich developmeni proposdls and potential winlcr training facililies linked to Derry GAA County Board and lo the redevelopment of Si Bfigid's College. F.ncouraged and supported GSAP staff & Directors, locul communilylinlerest groups and residents to seek al/of maintain r¢presenlation on 16 city wide bodie5 thal operate at a straiegic level, including Success North West Employmeni Support Iniliative, NIHE Housing Community Network. Family Support Hub5 (HSCB) CYPSP; Galliagh Linear Park Development 5leerin8 Group; DENIDOJ 'Wrap Around Educaiional support Projeci"; Skeoge Lands Steering Group; WHSCT Localily Planning Group; Neighbourhood Healih Improvement Project (NHIP); Foyle Women's Informaiion Neiwork; Wesiern Areas Outcome Group; Food Poverty Partnership; Outer North & Ballyarnell local Growth Parlnership., Outer North Extended Schools Sieering Groupi Skeog¢ H1th Aciion Research Group. Family Support Hubs- Task & Finish Group and Galliagh Sports Facilities Steering Group. GSAP organised andlor facililaled a 5erie5 of partnership meetings, 12 project ideas with 15+ meetings allended, to advance the physical and social regeneration of the area and to promole and maintain linkages with key or8anisaiions.' Galliagh Bus Sheliers. Skeose Lands Redev¢lopmenis' local sports clubs piich developments; Ihe Ballyarncti DEA PeacePlus and Consensual Grani pro8rammes; the Skeoge Action Research Projeci: Ihe resioraiion of Boomhall ESle. Healthy Living Centre Alliance; Consensual Grdnt Making model and ihe Communiiy Climate Aclion fund. Page 6
Greater Shantallow Area Partnership Limited (A company limited by guarantee) Report of the trustees (incorporating the directors, report} for the year ended 31 March 2024 An Actlve Communlty 95 volunteers weTe recruiied, irained and supported to participate in mmmunily development work. evenls and programmes within Ihe Grealer Shanlallow Area. Provided ongoing inforn]alion and advice to over 39 comfflunilylvoluntary groups through electronic newsflashes. GSAP facebook, Succe55 North West facebook, Talking io Our Babies facebook. ETHOS family support facebook and ASPIRE facebook. 12 communitylvoluntary groups received assistance in completing 36 ACCESS NI checks through GSAP as pttrt of the reeruitment process for siaff and volunieers. Local Project Highlights Durin8 ihe March 2024 year the charity secured a financial funding package from number of bodies to enable it to purchase ihe Community Building in Northside. The funders included a grani of £194,438 from the Community Ownership Fuftd through DLUHC, a £95,OCK) ierm loan from Community Finllnce Ireland and the £IOa.O(K) capilal donation received from Northside TTUSI a number of years ago lo assist wilh purchasing Ihe charity's current premises. Durin8 the March 2024 year GSAP coniinued 10 proiect 13 existing local inte8raied local services managed by GSAP: including Ihe Outer North Communiiy Support Projeci undertaken by 3 staff membeTS , the secreiariai of the Outer North Nei8hbourhood Renewal Partnership undertaken by I rrE staff member, Ihe Shaniallow Family Support Hub (ETHOS) undertaken by 2.5 FTE slaff members, Ihe GTeaier Shaniallow Talking To Our Babie5 Project undertaken by I E staff member, the ASPIRE Programme undertaken by l FTE 51aff rnember, (he GSAP Success North West programme undertaken by 3 slaff mcmbers; Ihc Gr¢aier Shaniallow Exiended Schools Pro8ramme 2023124 funded through Ihe EA extended schools programme. Ihe Outer North Familie5 Connect Projeci undertaken by l siaff member, Ihe Greater Shanlallow Foodbank, Ihe new Skeoge Communiiy Hub al Clon Dara in partnership with APEX and the Big Lottery (4 staff & 2 PTL siaff. 3 FfE siaff employed through Ihe Dfc Job Start Scheme on 6-9 rnonih work placements), the employment of 2 PTE staff as play Park atlendanls. Ihe DENI Wrap Around Educa¢ion Support programme lelld by DENI and funded Ihrough Ihe DOJ Tackling Paramililarism progrAmme. Local Project Hl8hllghts condnued Durin8 the March 2024 year Ihe eharily also continued Ihe development of 3 new inlegraled community led local services, including.. ( l ) the Family support service al Skeoge, which is funded by the Trusihou5e Charitable FouTKlalion and Apex Housing Association for the next 3 years; (2) the Skeoge Play Parks mainienance service, operated under a SLA with Apex Housin8 for the upkeep and mainienance of the 6 play parks in the area and which has enabled Ihe charily to employ 2 part-time aiiendants., (3) the Skeoge Health Action Research projeci. se( up to deliver a comprehensive community led health inequalities research project wilh local residents. During the Moreh 2024 year the charity continued 10 manage the Skeoge Communiiy Hub. which is funded by the Big Lottery under a 4 year funding agreement which commenced in September 2021. IA1 services pn)vided Some of the stand out results for March 2024 year derived from the iniegraied local services included: 299 adults and 26(J ¢hildrenlyoung people) were able io access inierventionlireaimeni services Ihmugh the family support hub, and 141 of those young people were able io acces% specialist SUPPOn lo address their neeits. During the reponin8 period Iht Family Support Hub made 1.658 outgoing referrals 10 79 local providers, inlervenlions and support services. 556 Year 8 pupils, across 2 academic year5. allending Si Brigid's College in September 2023 accessed a ran8e of personavsocial developmeni and healih programmes as part of ihe ASPIRE programme 190 local Tesidenis panicipated in healihy lifesiyle pro8rammes such as Tai Chi. Chair Aerobics, wAlkin8 club, personal development. Swimming, Minding me programme, Restore Nurrition. Outdoor Boot camp, Yoga elc thus reducing wcial i8olaiion and Improving their overall health and wttll-being, 870 young people altending local schools accessed a range of extended school programmes and services such as counselling, speech therapy, outdoor environmenlal education prograrnmes and lileracy and numeracy tuition elc. 379 fo (week supply) parcels donaied by the four Ial Churches were distributed by GSAP io families in need across the area ihus helpin8 to reduce the impact of poverty and improve their quality of life. Page 7
Greater Shanlallow Area Partnership Limited (A company limited by guarantee) Report of the trustees (Incorporatlng the directors, report) for the year ended 31 March 2024 Flnanclal revle Financial Review The resulis of the financial yellr are sei out in ihe Siaiement of Financial Activities and additional notes are provided in Ihe accounts showing income and expenditure in greaier delail. During the year ended 31 March 2024 Ihe charily had lolal income of £1.282,873 12023.'£920.(M)8) and costs of £976,579 (2023:£894,371) resulting in a surplus of £306.294 (2023-£25.637) for Ihe year. Exlended Schools During the year ended 31 March 2024 Ihc charity again managed Ihe Ex(ended Schools programme for a cluster of schools in the area. The Extended Schools pro8ramme 8eneraied income of £60,761 (2Q23..£64.747) and incurred projeci costs of £54.761 (2023.'£56,109). The charity's management of the Extended Schools programme generated an UnstriCted surplus of £6,OIM) which went iowards meeiing ihe charily's unfunded operating cosis, As at 31 Mah 2024 deblors includ¢ a balance of £40,025 relaiing lo ex¢cnded schools ¢laims owed. Soclal Capltal ( North West) CIC The year ended 31 March 2024 financial statements include a donation of £0 (2023..£0) io Ihe charity from Social Capital (North West) CIC. the trading company thai il owns and operates. As at 31 March 2024 debiors include £5,357 owed by Social Capital (North Wesl) CIC. Derry Clty & Strabane District Council Funding The year ended 31 March 2024 accounis include grant income of £65,640 (2023'.£58,113) from the District Council. The main grants ieceived from council included aproximately £15,000 under Ihe consensual fund, £12,000 under the venue fund and £20.(MJ) under the hardship fund. The accounts include £53,730 (2023'.£46,551) of matching expenditure relaling to the various programmes funded through the District Council. As at 31 March 2024 current asscls include £24,280 of grants owed by the council. Department for Communltles fundlng The finan¢ial slalemenls include £425,504 (2023..£440,977) of grani income from the Dfc during the year. This Brant income is maiched wilh the wa8es costs and overhead costs for the different projecls operated by Ihe charity thai Dfc funds. As 31 March 2024 debtors include £39.530 (2023:£15,030) of grani claims due from Dfc while deferred income in current liabiliiies includes £8.427 (2023:£18,979) of Dfc gran(s received in advance. The Catalyst Project - Blg Lottery Funded The year ended 31 March 2024 financial statements includc £115,572 (2023..£117.947) of grant income from Big Lottery togeiher wilh ihe relaied matching expenditure for the Catalyst Project which operates from Ihe Skeoge Communiiy Hub. This funding sianed in September 2021 and is lo run for 4 years. As at 31 Mah 2024 current liabilities include deferred income of £57.301 {2023..£53,229) relating lo the Big Lotlery grant received in advance. The deferred income and related matching expenditure will be recognised in Ihe subsequenl financial slaiemenis. Going Concern The various Dfc funding was again renewed for anoiher year 10 31 March 2025 and the board are confident that they will continue to be awarded new core funding and such have no concerns with regards lo the going<oncern status of the charity. However the charity's ability to continue as a going-concern is dependenl on continuing 10 receive core funding. Should the charity not gei il's core funding renewed il would be highly likely that li would noi be able lo continue and the 8oin8-concern basis for preparing the accounts would no longer be appropriate. Ii is currently expected thai the various funding will continue lo be made available 10 (he charity and as such the going-concem basis remains appropriaie in preparing the financial sthtemenis. Page 8
Greater Shantallow Area Partnership Limited (A company limited by gwarantee) Report of the trustees (incorporating the directors, report) for the year ended 31 March 2024 Reserves Pollcy li is the policy of the charity to seek 10 mainiain liquid funds at a level Ihat would enable it lo operate for a reasonable period should fundin8 be reduced or stopped, The chariiy's aim is to build up the Unrestricted Funds General Reserve to provide for future costs and contingencie5 thal would arise in the evenl thal funding was reduced or stopped so as to allow for the orderly winding up of the charily. Any funds generaied through projecfs organised by the charity arc used (o cover non-funded operuiin8 Costs and wages. The chllriiy's Unrestricted fund5 balance at 31 Mareh 2024 stood ai £ 164.251. This represenis unreslricled funds available io the chariiy io cover both ongoing unfunded c(Y6ts and would also be available to meet costs in the event ihat the charity was lo lose ils core funding if the board needed to effect the orderly winding up of Ihe charity. The costs to be overed in this situalion would include all unfunded redundancy and oiher overhead cosis 10 be incurred during ihat period. Transactions involving Trustees Any Lontracts eniered into by the charity durin8 the year where trustees had any inieresis are as detailed in the Relaied Parties note in the r)nancial slatemenls. Events after the BAlance Sheel Date l) I'he chariiy completed the purchose its Northside premises in March 2024 and following Ihiil purchase has been seeking additional funding lo carry oul csscnlial repairs and improvemenls lo Ihe buildin8. Post year end Ihe charity has obiained a number of funding offers to enable il to carry out work on the premises, including r¢placemenl of Ihe doors and windows. electrical work and other healing and enyironmenial improvwments. This funding 108ether wilh the related costs will be recognised in Ihe March 2025 financial sialemenls. 2) While Ihe funding applicaiion that Ihe charily was iT]volved in preparing & submiiiing for the redevelopmenl of Boom Hall was not included in the Fk)sl year end funding announcement. The charilys board continue lo be hopeful that there can be further developments wilh this potential project in the future & will continue lo explore Polenlial funding for Ihe project. 3) The 4 year funding applicotion to Ihe Naiional Loitery Community Fund for the Skeoge Hub project, approved in June 2021 and amounting 10 approximalely £478K, Slaned 10 be drawn down in September 2021 and the March 2024 accounts include another full year's figures relating lo the matching income and expenditu for ihe project. The income and matching expenditure for the main)ng 1.5 years of (he project will be recognised in future periods accounts as the projeel coniinues. Plans for fulure period$ In fulure financial years GSAP WAII coniinue to develop relationships with key agencies responsible for delivering services within the arca and work with local residenis, local organisaiions, schools, community groups and slalulory agencies 10 develop positive changes in the quality of life of disadvantaged families and neighbourhoods thus ensuring comprehensive social inclusion. GSAP staff and the Board of Directors will work hard 10 remain ai ihe denlre of local development. This will be achieved by working even more closely with local residents and community & voluntary groupsin Ihe area, remaining actively involved An ihe delivery of ihe new Ballyarneti Community Plan, the Derry City & Strabane District Council Area Strategic Gr0h Plan and the delivery of Ihe Outer North Regeneration Plan, continuously identifying the need and pulling forward sound cases for inveslment and grasping opportunities that may arise from new government policies and initiatives such as the City Deal. Having purchased il's exisiing premises in Ihe March 2024 year. the chariiy will be aaively seeking Ihe funding and financial support needed 10 enable it 10 redevelop and improve the Community Building lo make il fil for PUTpose going forward. EAisling plan5 for the building include Ihe necessary replacement of the windows and doors, replacemeni of the lighting systems, replacement or improvements lo the existing healing system, a redesign of ihe current office iniernal layout as well as extemal building works, including security upgrades. These plAns for Ihe building will be progressed as and when fundin8 is secured. In addition Ihe charity continues lo work wilh all local inieresied groups and bodies with regards 10 prO8Ssing Ihe plans and proposals for the regeneration of Boom Hall. Page 9
GreAter Shantallow Area Partnership Limited (A company limited by guarantee) Report of the trustees (Incorporatlng the dlrectors, report) for the year ended 31 March 2024 Statement as to dlsclosure of infonnatlon to auditors In so far as the twstees are aware: there is no relevant audit informalion of which ihe ehariiable compony's audiiors are unawe. and the Iruslee5 have taken all steps that they oughi lo have iaken lo make thenelVeS aware of Any relevant audit informalion and lo establish that the auditors are aware of that informalion. Statement of trustees, responsibilities The iruslees (who also directors of Greater Shontallow Area Partnership Limited for the purpose of company law) are responsible for preparing Ihe Trustees. Annual Report and ihe financial statemenis in accordance wilh applicable IDW and United Kingdom Generally Accepied Accounting Practice. Company law and Ihe Charities Act (Nl) 2008 require the trustees io prepare financial statements for each financial year which give a irue and fair view of ihe slate of affairs of the charitable company and of the ineorning resources and application of Tesource$, including the income and expendiiure. of the chariiable company for that period. In preparing these financial staiements, the trusltts are required to: select suitable accounting policies and ihen apply them consistently. observe the meihods and principles in ihe Charities SORP; make judgements and eslirnates that are reasonable and prudenl., siaie wheiher applicable UK Accouniin8 Siandards have been followed, subjecl to any material depanures dis¢los¢d and explained in Ihe fina11 statements; and prepare Ihe financial siaiemenis on the going concern basis unless it is inappropriate io presume Ihal the chariiable company will coniinue in operaiion. The Iruslees 3Je responsible for keeping proper accouniing records which disclose wilh reasonDble accuracy lll any lime Ihe financial w)siiion of the chllrilable company and which enable them to ensurtt that the r)nuneial siaiements comply wilh Ihe Companies (Northern Ireland) Order 1986. They ate also responsible for safeguarding the asseis of the charitable company and hence for laking reasonable sieps for ihe prevention and detection of fr&ud and other irregularities. Page 10
Greater Shantallow Area Partnership Limited (A company limited by guarantee) Report of the trustees {Incorporating the directors, report) for the year ended 31 March 2024 Auditors Shaun McGiniy & Co Isiaiuiory Auditor) are deemed io be reappointed in accordance with Section 487{2) of the Companies Act 2(Ml6. On behalf of thc Ix)ard Athal Mc Secretary Charles M Dlreetor Martln Connolly D5reetor 30 January 2025 Page 11
Greater Sh2ntsllow Area Partnership Limited (A company limited by guarantee) Independent auditor's report to the ttee8 of Greater Shantallow Area Partnership Limited ReKx)rt on the audlt of the flnanclal slalements Opinion We have audiied the financial statements of Greater Shantajlow Area Partnership Limited for Ihe year ended 31 March 2024 which comprise the Statement of Financial Aciivities, the Balance Sheei, the Cash Flow Siatement and the related notes to ihe finAncial stlltemenis, including a summary of slgnificani accouniing policies set out in note l. The financial reponing framework that has been applied in Iheir preparation 15 applicablc Northcrn Ircland law and FRS 102 "The Financial Reporting Siandard applicable in the Unilcd Kingdom and Republic of Ireland" and the Accounting and Reporting by Charilies- Staiemeni of Recommended Practice (Charities SORP) applicable lo charilies preparing their accounts in accordance with FRS 102. In our opinion the financial stalemenls: give a tnje And fair view of the asseis, liabililiesand financial position of the charitable company's affairs as at 31 March 2024 and of its incoming resources and application of resources. including ils income and expendiiure, for the year then ended; have becn properly prepa in accordance with FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" as applied with regards to the Charaiies SORP.. and have bccn properly prepared in accordance wilh the requiremenis of ihe Companies Aci 2CMJ6. Basls of oplnlon We conducied our audit in accordance with International SiaThlards on Auditing (UK) (ISAS UK) and applicable law, Our responsibilities under those standards are further described in the Auditor's responsibilitie5 for Ihe audit of the financial statements section of our report. We are independent of the chariiy in accordance with ethical requirements thai are relevani to our audit of financial slalemenls in the UK and Northern Ireland, including the FRC'S Eihical Siandard for Auditors. and we have fulfilled our oiher eihical responsibilities in accordance with Ihese requiremenis. We believe Ihai Ihe audii evidence we have obtained is sufficient and aPPTopriaie to provide a basis for our opinion, We have undertaken Ihe audii in accordNnce with Ihe requirements of APB Ethi¢al Standards including APB Ethical Slandard - Provisions Available for Small Enlitie5. in Ihe circumstance5 sel oul below: In common with many other businesses of OUT size and nalurc we usc our audiiors lo prepare and submit reiurns to the tax authorities and assist with the preparation of Ihe financial sioiemenis. Concluslons relallng to golng concern We have nothing lo report in Spect of (he followAn8 matiers in relaiion to which ISA (UK) require us to report 10 you where: the iruslees use of the going concern basis of accouniin8 in Ihe preparaiion of ih¢ financial staiemcnts is noi appft)priaie' or the irusiees have noi disclosed in ihe financial statements any identified maierial uncertainties that may cast significant doubt aboui the charily's ability to continue 10 adopi ihc going concern basis of accounting for a period of at leasi twelve months from the date when the financial stalemenls are auihorised for issue. Other information Th¢ Iruslees are responsible for the other information. The other infoTmalion comprises the infonnaiion included in the annual report other than the finan¢ial statements and our Audirows Report rhereon. Our opinion on the financial staiements does noi cover the other infomiation and, exttpi 10 the extent oiherwise expliciily staled in our report. we do nor express any form of a5SUTance eonclusion ihereon. Page 12
Greater Shantallow Area Partnership Limited (A company limited by guarantee) In connection wilh our audil of the financial siatemenls, our responsibility is to read the other informttiion and. in doing so, consider wheiher ihe oiher inforn)ation is materially inconsislent with the financial statCTncn15 or our knowl¢dgc obtained in the audil, or othenvise appears to be mateTially misstated. If we identify such material inconsistencies or apparent malerial Miss¢atennt$, we are required to determine whether there is a material missiatement in Ihe financial slalemenls or a material misstatement of the other informalion. If, based on (he work we have perfOrnd. we conclude there is a material missiaiement of Ihis other inforniaiion. we are required 10 repon that fact. We hllve nothin8 10 report in (his regard. Opinio8 on other matter prescrlbed by the Companies Act 2006 Based solely on the work undertaken in the course of the audit, we report ihal- In our opinion, the information given in Ihe Trusiees. Repon is consisr¢nl with the financial Slat¢ment$. In our opinion, the Truslees, Report has been prepared in accordance with the requiremcnis of the Companies Act 2006. Wc have obtained all Ihe infomaiion and explanations which we consider necessary for the PUTpose of our audit. In our opinion, the accounting records of the charity were sU1¢ien1 to permil the financial siaiemenis 10 be readily and properly audited. and the financial statements are in agreemenl with the accouniing records, Matters on which we are requlred to report by exceptlon Based on Ihe knowledge and understanding of th¢ chariiy and lis environment obtained in the course of the audit. we have not identified any material mi&slalemenls in Ihe Truslee5' Report. We have noihing io report in respeci of the following mallers where Ihe Companies Act 2006 require5 US to report to you if, in our opinion; adequale accounting records have not been kept or reiurns adequaie for our audit have nol been received from branche5 liot Vi5ilcd by Ub; or the financial slalemenls are not in agreernent with Ihe accounling records and returns; or certain disclosures of trusiees, remuneraiion specified by law are noi Made; or we have not received all the information and explanations we require for our audit; or (he Irustees, were not cnliiled 10 prepare the financial siatemenis in accordance with the small companies regime and lake advaniage of Ihe small companies exemption in preparing the Trustees. Annual Report. Respectlve responslblllt5es Respecdve responslbllltles of the trustees As explained nK)re fully in Ihe Trustees, Responsibililies Si&iemeni set out in the Trusiees. Report. Ihc trustees, (who are also direciors for ihe purposes of company law) aft responsible for Ihe preparaiion of (he financial slaiemenis and for being satisfied ihal they give a true and fair view, and for such internal control as they de(ermine is necessary to enable the prep&Tation of financial siotemenls that are free from material missialemenis, whether due lo fraud OT eor. In preparing Ihe financial Slatement& the trustees are responsible for assessing the chorily's ability lo conlinue as a goin8 concem, disclosing, as applicable, matters related lo goin8 coeM and using the going concern basis of accounting unless mana8emenl either iniends (o liquidaie (he charily or io cease operaiions, or has no realistic alrernalive bul to do so. Audltors's POnsIbIlItI for the audit of the financial statements Our objectives arc to oblain reasonable assurance alx)ut whether the financial slatemenls as a whole are free from material misslalemenl, whether due lo fraud or error, and 10 issue an Audiio¢s Report thai includes our opinion. Reasonable assurance is a high level of assurance. bui is not a 8uaranlee ihal an audit conducied in accordance with ISAS (UK) will always deteci a maierial misslatemenl when il exists. Misstaiemenis can arise from fraud or error and are considered material if. individually or in the aggregaie, they could reasonably be expe¢(ed lo influence th¢ economi¢ deci5ion5 of users illken on the basis of Ihe5¢ financial sthtements. As part of an audit itl accordance wilh ISAS (UK), we exercise professional judgement and mainiain professional scepticism throughout ihe audit. We also.. identify and assess the risks of material misstalemenl of the financial slaiemenls, wheiher due 10 fraud or error.design and perfonn audit procedures responsive lo those risks. and obtain audil evidence thai is sufficieni and appropriaie to provide a basis for our opinion. The risk of not detecting a maierial misslaiement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion. forgery, intenlional omissions. misrepresenlations, or the oveide of inlernal conlrol5. Page 13
Greater Shantallow Area Partnership Limited (A company limited by guarantee) Obtain an understanding of internal conlToI relevant 10 Ihe audit in order io design procedures thai are appropriate in the circumsiances, but not for (he purpose of expressing an opinion on the effectiveness of the internal control. Evaluate the appropriateness of accounting policies used and the reawnableness of accouniing estimaies and related disclosures made by the trusiees. conclude on the appropriateness of ihe direclors use of ihe going concern basis of accounting and, based on the ttudit evidence obtained, whethcr a material uncertainty exists relaied io events or conditions ihat may casi significant doubt on Ihe charily's ability to continuc as a going conccrn, If we ¢(Fnclude Ihal a material un¢ert41llty exists, we are required lo draw attention in our auditor's report lo the related disclosures in the financial statemen15 or. if such disclosures are inadequnle. to modify our opinion. Our conclu5ion5 are based on Ihe audit evidence obthined up 10 the date of our auditor's report. However. fuiure evenis or conditions MAY cause the charity io ce8se to coniinue as a 80in8 concern. Evaluate Ihe overall presenlalion, slruciure and conlenl of the financial slalemenls. including the disclosures, and whether Ihe financial statements represent the underlying transactions and evenis in a manner ihat achieves fair presentation. We communicaie wilh those char8ed with governance regarding, among oiheT rnatieTS, the planned scope and timing of the audit and signifieani audit findings, including any significant deficiencies in internal control thai we ideniify during our audit. The purpose of our audlt report and to whom we owe our responsibllltles This report is made solely to the charily's tnbslees, as a body. in accordance with Chapter 3 of Part 16 of the Companies Act 2CKI6. Our audit work has been undertaken 50 that we might state 10 Ihe charily's trustees those maiters we are required to slate to them in an auditorfs report and for no oiher purpose. To Ihe fullest exieni permitied by law, we do not accepi or ossurne responsibility to anyone olher than the chariiy and Ihe charity's truslvs as a body, for OUT audit WOTk. fr)r this report, or for the opinions we have formed. ?1 Kl'/,r Shaun McG%nty {Senlor StalutoryAuditor) For and on behalf of Shaun McGlnty & Co (Statutory Audllor) Chartered Accountants and Reglstered Audltors 44 Woodbrook Derry BT48 8FF 30 January 2025 Page 14
Greater Shantallow Area Partnership Limited (A company limited by guarantee) Statement of financial activities (incorporating the income and expenditure account) For the year ended 31 March 2024 Unrestrlcted Restrlettd funds funds 2024 Unrestrlcted R&%trlcted TotAI funds funds 2023 Total Notes Income Income from generating funds.. Income from donations and legacies Income from other trading aciiviiies Other income 11.955 1.137,174 1.149,129 73,983 54,761 128,744 5.000 5,(K)O 11.579 47.091 5.(KJO 798.451 57,887 810.030 104,978 S,0(K) Total Income 90.938 1.191,935 1.282.873 63.670 856,338 920.008 Expenditure on Staff cos15 Esiablishmen( cosis Motor and iravelling expenses Accouniancy fees Audiiors, remuneration Ltgal and professional fees Communications and IT Olher Olee expenses Inleresl payablc and similar charges Depreciation and impairment Loss on disw)sal of inlangible fixed assels for Ihe charitls own use Miscellaneous expenses Donaiions Project costs - General Project Cosis - Exlended Schools Projeci Cosis - Dfc ThOB Project Costs - DC & S D Council Projeci Cosis - DENI WRAP Projecl Costs - Big Loitery funded 40.874 21.669 .770 1.760 528,519 69,032 1,976 1,640 569,393 90,701 3.746 3,400 1,100 6.639 3,700 16,472 3,020 11.649 33,208 499,017 66.086 920 3.020 532,226 66.086 920 3.02Q 1,100 4,651 6,805 4,296 1,860 3,342 6.639 4.651 6,805 4,299 1.465 3,342 3,7 16,472 3,020 1,485 395 10,164 15 15 4,544 250 31,110 54.761 33,267 53.730 61,845 27,237 4,543 3,242 3.242 1.090 36.640 56.1(19 38,413 46.551 55.671 32.349 250 970 1,090 30,140 54.761 33.267 53,730 61,845 27,237 36,640 56.109 38,413 46.551 55,671 32,349 Tolal expendlture 78,453 898,126 976,579 34,693 859,680 894,371 Net Ineomel(expense) resources for the year I Net incomel(expense) for the year 12,485 293.809 306,294 28.977 (3.342) 25,637 Total funds brought forward 151,766 7,841 159,607 122.789 11.183 133.972 Total funds carried forward 164,251 301,650 465.901 151.766 7,841 159,609 The slalement of fiDancial aclivilies includes all gains and losses in the year and therefor¢ a separate slatemenl of total recognised gains and losses has not been prepared. All of the above amounts relate to continuing aclivilies. The notes on pages 18 to 27 form an Integral parl of these flnanclal stalemenl& Page 15
Greater Shanlallow Area Partnership Limited {A company limited by guarantee) Balance sheet as at 31 March 2024 2024 2023 Notes Flxed assets Tangible assets Current assets Debtors Cash ai bank and in hand 10 384,523 177,297 171,748 149,511 263,922 349,045 413,433 Credltors: amounts falllng due within one year 12 (183.832) (257.228) Net current assets 165.213 156,205 Total assets less current li8bilities Creditors: amounts falling due after more than one year 549,736 159,607 13 (83,835) Net assets 465.901 159,607 Funds Resirieied income funds Unresiric*d income funds 14 301.650 164.251 7,841 151,766 Total fvnds 465,901 159,607 The fi ci I siateme Is were approved by (he board on 30 January 2025 and signed on behalf Charles Mc Dlrector athal Mccauley Dlrector tln Connolly Dlr¢ctor The notes on pages 18 to 27 form an Integral part of these financlal statement& Page 16
Greater Shantallow Area Partnership Llmited (A company limited by guarantee) Cash flow statement for the yeAr ended 31 March 2024 2024 2023 Notes Net income for Ihe year Inleresl payable (GainllLos5 on disposal of fixed assels Depreciation and impairment Increase in debtor5 D¢cr¢as¢ in cr¢diiors 306,292 3.020 15 11.649 (27,786) (83.465) 25,637 1,860 3.342 (7,877) (7,972) Nel eash innow from operatlng actlvltle5 209,725 14.990 Reiurns on investments and servicing of finance Capital expenditure 23 23 13.020) (392.785) (1,860) (186.080) 93,835 13,130 Financing 23 (Decrease)Ilncrease In eash In the year (92,245) 13,130 Reconciliation of net cash flow to movement In net funds 24 (Decreaseylnerease In cash in the year Cash (decrease)liKrease in debis and lease finAncin8 (92,2451 (103.835) 13,130 Change in nel funds SU]iln8 from cash flows Other movements (196,080) 10,c 13,130 Movement In net funds In the year Net funds at l Aprll 2023 (186.()80) 262,470 13,130 249,342 Net funds at 31 March 2024 76.390 262,472 Page 17
Greater Shantallow Area Partnership Limited (A company limited by guarantee) Notes to financial statements for the year ended 31 March 2024 Aeeounting policies The principal accounting policies are summarised below, The accounting policies have been applied consisiently throu8houi the year and the preceding year. 1.1. Basis of accounting The financial slalemenls are prepared under ihe htstorical cosi convention and in accordance with Accounting and Reporting by Charilies.. Sraiement of Recommended Praciice applicable ro chariiies preparin8 their occounis in aecordanee with the Financial Reporting Standard applicable in the UK and Republic of Irelaftd (FRS 102) (effeclive l January 2015) - (Charities SORP (FRS102). Ihe Yinancial Reporting Standard applicable in Ihe UK and Republic of Ireliind (FRS102) and Ihe Companies (Northern Ireland) Order 1986. 1.2. Income All income is included in th¢ statement of fInala1 aclivilies when the ¢harity 1$ entitled to Ihe in¢ome and Ihe amount Can be quantified with weasonable a¢euracy. The following speeific policies are applied 10 particular categories of income: Donations and legacies in¢ome, formerly voluntary income, is received by way of grants. donations and gifts and is included in full in Ihe staiemeni of financial activiiies when receivable. Grants where entitlement is noi conditional on the delivery of a specific perforniance by the charity. are recognised when the charity becomes unconditionally enliiled lo the grant. Donated services and facilitie$ are included at the value to the charity where this can be quantified. The value of services provided by volunteers has noi been included. Gifts donated for resale arc included as incoming resources wiihin aciivilies for generating funds when they are sold. Grants, including grants for the purchase of fixed Isseis. arc recognised in full in the siaiemeni of financial aciivilies in the year in which Ihey are receivable. The March 2024 accounts include ioiAI 8rnni income of £1,047,629 (2023:£809,451) provided ¢0 Ihe charity by a variety of funders lo assist in rneeling its payroll and other operating cos15 and also to o5S151 with the purchase of fixed assets. The charity has fully complied wilh the ierms and conditions sei ou( by Ihe funders in their letters of offer. 1.3. Expenditure Expenditure is recognised on an accrual basis as a liabilily is incurred. Expendiiure includes any VAT which cannol be fully re¢overed, aTrJ is reported as part of the expenditur¢ lo which il Telales. Costs of generaling funds comprise the cosis associaied with atiraciing voluniary income and any cosis of trading for fundraAsin8 purposes includin8 the chariiy'5 shoplcafe. Charitable expendilure comprises those costs incUed by the charity in Ihe delivery of its activities and services for ils beneficiaries. It includes both costs that can be allocated directly lo such activities and those costs of indirect nature necessary 10 SUPPOrt them. Support costs are those costs inCued directly in support of expenditure on the objecls of Ihe charity and include project management. Page 18
Greater Shantallow Area Partnershlp Limited (A company limited by guararAtee) Notes to financial statements for the yeAr ended 31 March 2024 1.4. Tanglble flxed assets and depreclatlon Tangible fixed asseis are slated at cosi less accumulaled depreciation. Depreciation is provided at raies calculated to write off Ihe cosi less residual value of each asset over its expected useful life, as follows.. 1£8sehold properties Fixtures, fiitings and equipment Siraight line over 10 years 25% and 33,33 siraighl line 1.5. Defined contrlbution penslon schernes The pension cost5 charged in the financial statemenls repre5eni the contribution payable by Ihe charily during the year, 1.6. Debtors Debtors are recognised ai ihe setilemeni Amount due After any discount. Prepayments are valued al the net amount prepaid. Granl income r¢cognised by th¢ ¢harily from funders, but which has not yel been received at the year end. is included in debtors, 1.7. Cash at bank and hand Cash ai bank and in hand comprises cash on deposit al banks requiring less than 3 monlhs notice of withdrawal. 1.8. Credltors and provlslons Creditors and provisions are recognised where the chariiy hasa present obligation resulting from a past event, which will probably result in the transfer of economic value lo a ihird party. and ihe amount due Io settle the obligation can be reliably measured or estimated. Crediiors and provisions are nOMllY reco8nised ot their settlemeni iunountnfter allowin8 for any discount. Funds already received from funders that do not meet the Criteria for re¢o8nilion as income. are shown in erediiors. Critical ateounting Judgements and key sOreeS of estlmatlon uncertalnty The following are the critical judgements and estimates that the Trustees have made in the process of applying the charity's accounting policies and that have the n$1 significant effect on the arnounls recognised in the financial slatemenl5. Depreciatlon and useful Ilves of assets The depreeiaiion rates are based on expected useful lives of the relevant assets. The eslimales and underlying assumptions are reviewed on an ongoing basis arKI could have a mafrriial impact on both Ihe results for the year and the financial position if altered. Recoverabllfity of debtors In assessing the CoVerabl1)Iy of amounls due from deblors, the trustees have made the assumption that any impairmenl resuliing from the non-recoverdbilily of Ihe debtors owed 10 Ihe charity will noi be in excess of the bad debt provision (hai has been pui in place. The Irusiees believe that no further provision is required. Page 19
Greater Shantallow Area Partnership Limited (A company limited by guarantee) Notes to financial statements for the year ended 31 March 2024 Income from donations and legacies Unreslrieled Restricted runds funds 2024 Unrestrkted Reslrlc¢ed Total funds fund5 2023 Totsl Donations Capital Donation from Northside Granis receivable - Dfc NR Grants receivable . Dfc CIF Grants receivable . Dfc Job start Granis receivable - DENI - WRAP Grants receivabl¢ - DC & SD Council Granls receivable - WHS Grants receivable - Triax Grants receivable - Big Lollery Grants receivable - DLUHC Granis receivDble - Oiher 1.5LIJ 1,500 l (Xl,O(K) 340.713 64,328 20,463 67,000 65,640 48.062 103,282 115,572 194,438 28.131 579 579 i(Ki,c(io 340.713 64.328 20.463 61.845 65,640 42.762 103,282 115,572 194.438 28,131 356,749 70,830 13,398 60,671 58,113 33,222 79,243 117.947 356.749 70.830 13.398 65,671 38.113 39,222 79,243 117,947 5.155 5,300 6,000 8.278 8.278 11,955 1.137.174 1.149.129 11.579 798,451 810.030 Income from other tradlng actlvltles Unrestricted Restrieted funds funds 2024 Unreslrieted Restricled Total funds funds 2023 Total Other Aetivilies Income - Extended Schools Oiher Activities Income & Fees 6.000 67,983 54.761 60,761 67,983 6.860 40,231 57.887 64,747 40,231 73,983 54,761 128.744 47,091 57.887 104,978 Other income Unrestricted funds 2024 Ufirestrieled Restrieted Total funds funds 2023 Total Oiher income 5,0(K) 5.0(X) 5,000 5.000 5,0(X) 5,0(X) 5,000 5,(M)O Net Income for the year 2024 2023 Nct incom¢ is slal¢d afl¢T charging., Depreciation and other awK)unis wriiien off ian8ible fixed asseis Loss on disposal of iangible fixed assets Auditors, remuneration - excluding accountancy fees 11.649 15 3,342 i.ioo Page 20
Greater Shantallow Area Partnership Limited (A company limited by guarantee) Notes to financlal statements for the year ended 31 March 2024 Employees Employment costs 2024 2023 Wages and salaries Social security costs Pension c051s 510,655 42.094 16,644 476,461 41,608 14.157 569,393 532.226 No employee received emoluments of more Ihan £60,IX)0 (2023 . None). Number of employees The aveTage monthly numbers of employees {includin8 the Iruslees) during the year, calculated on Ihe basis of full lime equivalenls, wis as follows: 2024 Number 2023 Number Trustees - Voluntary & Part-time Adminislralion and management Project siaff and lulors 13 13 20 18 37 35 Payroll costs include a ioial wages cosi, including ER NIC and ER pension, of £51.6LM) (2023.,£53.821) r¢lating to the project manager. The iruslees are all voluntary and do not ceIve eliher remunerntion or expenses for their seTViCCS as Iruslees. Penslon costs The company operalcs a defined contribulion pension scheme in respect of those eli8ible employees who choose to join ihe pension scheme. The scheme and ils assets are held by i¥Klependent managers. The pension char8e represenis contributions due from the company ttnd was As follows: 2024 2023 Pension charge 16,644 14.157 TaxAtion The charity's aciivities fall wiihin the exemptions afforded by the provisions of the Income and CoTporalion Taxes Acl 1988. Accordingly, there is no taxation char8e in ihese account5. Page 21
GreAter Shantallow Area Partnership Limited (A company limited by guarantee) Notes to financial statements for the year ended 31 March 2024 tA)ng Flxlures. leasehold fittings and property equlpment 10. Tanglble Ilxed assets Total Cost Ai l April 2023 Additions Disposals 96.341 96.341 9.535 392.785 (53,741) (53,741) 383.250 Al 31 March 2024 383.250 52,135 435,383 Depredation Ai l April 2023 Charge for the year On disposals 92,939 92,939 5,249 11,649 (53,726) (53.726) At 31 March 2024 44,462 50.862 Net book values Ai 31 March 2024 376,850 7,673 384.523 Ai 31 March 2023 3,402 3,402 11. Debtors 2024 2023 Trade debtors Amunls owed by Social Capital (NW) CIC Other debtors Prepayments and a¢¢rued income 159,052 5,357 2.550 10,338 131,013 4.328 5,5(X) 8,670 177,297 149,5)1 12. Credltors: amounts falling due within one year 2024 2023 Bank overdraft Bank loan Trdde creditors Other taxes and social security Oiher credilors Accruals and deferred income 1,521 )o,o 78,099 8.350 2,765 83,097 1.452 57,690 19.383 2,621 176,082 183.832 257,228 The loan is secured by a firsi legal charge, in favour of Ulster Comrnunily Investment Trust, registered again51 the charily's property. Page 22
Greater Shantallow Area Partnership Limited (A company limited by guarantee) Notes to financial statements for the year ended 31 March 2024 13. Creditors: amounts falllng due after more than one year 2024 2023 Bank lo&n 83.835 Loans Repayable in one year or less, or on demand (Noie 12) Repayable belween one and two years Repayable beiween two and five years Repayable in five ycllrs or more i o,otM) l O,O(M) 30.0(K) 43,835 93,835 The £95.000 loan veceived from Ulster Investment Community Trust Limited. Irading as Commuflily Finance Ireland. to assist with Ihe purchase of the Northside offices during Ihe March 2024 year is repayable over a 10 year ierm. The loan is secured by a firsi legal charge, in favour of Ulster Community Invesiment Trust, registered against ihe charity's property. 14. Analysis of net assets between funds Unrestrlcted Res¢rlcled funds funds Tolal runds Fund balances ot 31 March 2024 as represenled by: Tangible fixed assets Current asseis Curr¢nt liabilili¢s Long4erm liabilities 87,327 297.196 170,759 178,286 (10,000) (173.832) (83,835) 384.523 349,(HS (183,832) (83,835) 164.251 301.650 465,901 15. Unrestricted funds At l Aprll Incomlng Oulgolng 2023 resources resources At 31 March 2024 Unrestricted Reserves 151,766 90,938 {78,453) 164.251 Purposes of unrestrlcted funds Unresiricied funds hllve been built up to enable Ihe charily 10 meet the non.granl aided portion of il's operating cosis. Page 23
Greater Shantallow Area Partnership Limited (A company limited by guarantee) Notes to financial statements for the year ended 31 March 2024 16. Restricled funds At l April Ineoming Out8olng 2023 resources resources At 31 March 2024 Operating Cosis Capilal expenditure ¢osls 4.442 3.399 887,962 303.973 (887,962) (10,164) 4,442 297,208 7,841 1,191,933 (898,126) 301.650 Purposes of restrlcted funds The majorily of Restricted funding e1Ved by ihe charity is lo cover the operniing costs of Ihc organisation. Throughout its existence the charity has received various resiricied ¢apit&l grant fundin8 to cover capiial costs of fixed asseis acquired by At in ihe course of ils operaiions. Funders who have provided capiial grants 10 the chariiy include Ihc Department for Communities. Big Lottery and I'riax amon8 oihers.The March 2024 accounts include a ¢apitttl grant of £194.438 received from DLUHC logeiher wilh the capital donation of £l(M),OIKI received from Northbi(le Developmenl Trust which were used lo assist the charity with funding Ihe purchase of the charity's Northside premiscs during the year. The ioial property capi(al cosi wos £383.250 exclusive of professionul fees and the charily is self funding the shortf&ll beiween ihe capital income and lh¢ PToperty cost Ihrough a 10 year loan obtained from Communily Finance Ireland. The repayment of Ihe loan is lo be funded from the ¢harily's ongoing generaiion of addiiional unresiri¢ted income, 17. Fingnci&l commltments As al 31 March 2024 the company has property leasing cost commiimenis of approximately £ 40,(th. 18, Contingent Ilabllllles l) Grants income. including the £194.438 capithl grani recognised in the March 2024 accounts from th¢ Departmeni for Levelling Up. Housin8 and Communilics, could be repayable 10 ihe various funders in ihe event that the company fail¢d lo comply with Ihe lernis and condilions per Ihe various leltcr5 0( offer. There is also a signed legal charge in place belween GSAP and the Ikpartment for Levelling Up, Housin8 & Communities which runs for a period of 7 years and sets out certain clawback conditions allaching lo the grant. The charity continues io meet ihe terms and condilions of all the funding offers and as such no provision is necessary for the return of grant funding or any funding clawback obli8alions. 2) If the charity slopped operating there would be a potential redundancy liability which at the year end would have been in excess of £50.000. This potential wage5 C051 would have to be funded from Unrestricted reserves as it is not covered by the funders. The accounts have been prep2wed on a going concern basis and the charity has no plans to dce or cease operations. As such no provision currently needs included in the financial siaiements in respect of the poleniial redundancy cosis. 19. Transactions with trustees The directors I trustees are all volunlary and do not receive eilher remurteralion or expenses for their services as diteclors I trusiees, Page 24
Greater Shantallow Area Partnership Limited (A company lirnited by guarantee) Note% to financial statements for the year ended 31 March 2024 20. Related party transact105 l ) The March 2024 year expenditure includes £8,745 due lo Liberty Consortium. All such cxpendilure occurs under normal 0&TatIng terrns & if applicable, is checked & approved by ihe funder5. As al 31 March 2024 creditors include £6,370 owed to Liberty Consortium. Mr Darren Kirby. a GSAP employee. is a director of Liberty Consortium. He is nol involved in the decision-making for transactions involving both orsartisaiions. 2) The March 2024 year expenditure includes £20,993 to Shantallow Community Residenis Associaiion (SCRA) & £2.125 10 Teamworks CIC; while income includes £6,757 from SCRA and £53 from Teamworks. As ai 31 March 2024 debtors include £1.689 owed by SCRA & £53 owed by Teamworks; while crediiors include £8,750 owed to SCRA. During thc ycar GSAP m(Idc a Icmpordry llpan of £20,000 lo SCRA which was fully repaid befo the year end. All transactions between the organisations occur under normal terms . if applicable, are checked & approved by the funders. MT Cathal Mccauley, a GSAP director. is employed by SCRA & is involved in the mana8ement of Teamworks. He is nol involved in the decision-making when projects involve these organisations. 3) The Mareh 2024 expenditure includes £790 due to J2afair Cornmunily Association (LCA). As ai 31 March 2024 crediiors include £400 due to LCA. All Iransactions between these organisaiions occur under rmial lerms . if applicable, are checked & approved by the funder. Peter McDonald, a former GSAP director. was an employee of LCA; while Mr G Mcmonagle, a GSAP dire¢ior is also a direcior of LCA. Neiiher Mr McDonald nor Mr Mcmonagle are involved in Ihe decision-making for projects involving these org&nisations. 4) There were no donations lo the charily from Social Capital (North West) cic, the trading comp&ny owned by the chariiy. however during Ihe March 2024 year GSAP paid £1,029 of cosis for Ihe CIC & as al 31 March 2024 debtors include £5,357 owed by the CIC for costs paid by GSAP. The board of the CIC comprises 2 members of the charity's board. The CIC'S conslilulion requires il to donate any surplutscs gcncralcd to Ihc charily. 5) The Mar¢h 2024 accourtis include a debior loan balance of £2,500 owed to GSAP by GalliA8h Womens Group fter the repayment of £l,C((I during the year. All transactions between the organisaiions occur under normal condiiions . where applicable, are checked by funders. Marie Gillespie, a GSAP direcior, & Rosie Doherty, a former director, are also involved in the managemenl of the womens group. 6) The March 2024 accounts include £150 of income from the On The Streets Community Youth Initiative. As ai 31 March 2024 the are no balances between the organisations. All transactions between the 2 or8anisAlions UCCUT under norm411 operaling conditions & where applicable. are checked by Ihe relevant fundeis. Cathal Mccauley & Martin Connolly. direciors of GSAP. are also involved in Ihe runnin8 of Ihe youih iniiiative. 7) The March 2024 year expenditure includes £840 relating 10 St Brigids College & creditors as ai 31 Mareh 2024 include £840 owed 10 the college. All Iransaclions between Ihe organisaiions occur under normal terms & where applicable, are approved by the funders. Mr G McMona8le, a GSAP director, was also on the teachin8 Staff al Si Brigids Colle8e until his relirement in August 2023 bul is not involved in the chaTily's decision-making for projecis involving l)oih organisations. 8) Thc March 2024 year acLounls include cxpendilure of £25,584 due to Rainbow Child & Family Cenire. As at 31 March 2024 there are no balances 1Ween the 2. All Iransactions between Ihe 2 occur under normal operating onditions & wheTc applicable, are checked by the related funders. Elaine Young, a GSAP dierector. is employed by Rainbow. bul h&s no involvement in the charity's mana8ement decisions involving the 2 cnlilic5. 9) The March 2024 expendIlU Includes £7.218 due 10 Bios Compuiers Lid while there are no ouisiandin8 balances owed as al 31 March 2024. All Iransaclions between the 2 entities occur under normal conditions where applicable arc checked by the relaied funder. Darren Kirby. a GSAP employee, is the brother of the owner of Bios. Darren Kirby is not involved in the chariiy's decision-making for projects involving both entities, 10) The March 2024 expenditure includes £4,194 with Skeoge Community Associalion & income include5 £780 from it. As al 31 March 2024 there are no outstanding balances between Ihe 2 organisations. All Iransactions beiween the 2 occur under normal conditions . where applicable. are checked by ihe relevani funder. Nicola Mullan & Caroline Ming, both GSAP employees. are also involved in Ihe management of SCA. Neither are involved in Ihe charity's decision-making in projecis involving Ihe 2 eniiiies. 21. Controlllng Interest No one member of the board of directors is able to exercise control of the company rather it is controlled collectively by Ihe board of directors. Page 25
Greater Shantsllow Area Partnership Llmited (A company limited by guarantee) Notes to financial statements for the year ended 31 March 2024 22. Post balanee sheet events l ) The charity completed the purchase its Northside premises in March 2024 and following that purchase has been seeking addiiional funding to carry out esseniial repairs and irnprovemenls lo the building. Post year eT]d ihe charity has obtained a number of funding offers to enable it lo carry out work on Ihe premises, including replacemenl of the doors and windows, electrical work and other healing and environmental improvwments. This funding iogeiher wiih the related costs will be recognised in the March 2025 financial slalcmenls. 2) While the funding application that the charity was involved in preparing & submitiin8 for ihe redevelopmeni of Boom Hall WAS noi included in the posi year end funding announcernenl. The charitys board continue (o be hopeful that rhere can be further developrnenl.s with this potenlial project in the fulurc & will conlinuc to cxplore potential funding for ihe projecl. 31 Thc 4 year funding application lo the National Lottery Community Fund for the Skeoge Hub project. approved in June 2021 and amouniing lo approximately £478K, siarted to be drawn down in Sewember 2021 llnd the March 2024 accounts include llnoiher full year's figures relarin8 10 the maiching ineome and expenditure for the project. The income and maiching expenditure for Ihe remaining 1.5 years of Ihe projeci will be recognised in fulure periods aeeounis as the project continues. 23. Gross cash nows 2024 2023 Returns on Investments and servieing of finanee Interesi paid (3,020) (1,860) Capltal expendltsre Payments to acquire tangible a5scIs (392.785) Flnanclng New bank loan Repaymenl of bank loan 95,000 (1,165) 93.835 Analysls of change5 in net funds Openlng balance Cash nows Other Changes Closing balance Cash al bank and in hAnd Overdrafts 263,922 (1,452} {92,174) {69) 171,748 (1,521) 262,470 (92,243) 170,227 Debt due withln one year Debt du¢ after one year (10,(M)O) (93.835) ( 10,000) (83,835) 10,(K)O (103,835) i 0,000 (93,835) Net funds 262,470 (196,078) 10.000 76,392 Page 26
Greater Shantallow Area Partnership Limited (A company limited by guarantee) Notes to financial statements for the year ended 31 March 2024 25. Going concern The various Dfc funding was again renewed for another year to 31 March 2024 and the lunding from the Naiional Loiiery Communiiy Fund runs uniil 2025. The board are confident thal they will continue to be awarded new CO funding and as such they have no conceTns with regard5 to the going"concern status of the charily. However the charily's ability to continue as a going-concem is dependen( on continuing io receive core funding. Should the charity not gei il's Core funding renewed li would be highly likely ihal it would noi be able to continue and the 80in8-concern basis for prepaTing the aceounis would no longer be appropriaie. It is currenily expected that the various funding will coniinue 10 be made available to the charily and as such the going-concern basis remains appropriaie in preparing Ihe financial slalemenls. Company limlted by guarantee Greaier Shantallow Area Partnership Limited is a company limited by guarantee and accordingly does not have a share capiial. Every member of the company undertakes to contribute such arnounl as may be required nvt exceeding £1 10 Ihe a55ets of the charitable company in Ihe event of ils being wound up while he or she is a member. or within one year after he or she ceases ro be a member. 27. Limitation of Auditors, Llablllty As sinted in the leiier of en8Q8ement which was signcd and approvcd by the board of directors. the liabilsiy of the audiior 1$ limited 10 the amount of the annual fee. Page 27