Douglas Bridge Cross Community Association Limited (Company limited by guarantee) Trustees, report and financial statements for the year ended 31 December 2023 Registration number: N1040069 Northern Ireland Charity number: NIC100210 MeFarland Arnold & Co Chartered Accountants
Douglas Bridge Cross Community Association Limited (Company limited by guarantee) Contents for the year ended 31 December 2023 Page Legal and administi'ative information Ti'ustees report Accountants, report Siatenient of financial activities Balance sheet Noles to the financial statemeiits 9-14
Douglas Bridge Cross Community Association Limited (Company limited by guarantee) Legal and administrative information for the year ended 31 December 2023 Legal Status The company is a private limited company, limited by guarantee, which was incoiyorated under the Companies (Northern Ireland) Order 1986 under R¢gistration Number N1040069. It is also r¢¢ognised as a cliarity by HM R¢venue & Customs under Refei'ence Number XR44866. The company is a registered charity with the Charity Commission for Northern Ireland since 20 July 2016 under registration number NIC100210. Trustees Eileen Duffy Geraldine Boyce (resigned 22 April 2024) Edel M¢Nulty (i-esigiied 8 August 2023) Roseinai'y Ai'buckle (resigned 13 Septeinber 2022) Roisin Devine Agnes Duffy (resigned 8 August 2023) Michelle Flanagan Debbie Gallaghei. (resigned 13 Septembei. 2022) Edwai'd Si1¢h (resigned 8 August 2023) Registered ol¢e and busiiiess address 63-65 Camus Road Douglas Bridge Sti'abane Co Tyi'one BT82 8QE Accountants McFarland Aimold & Co Chartered Accountants 8 Main Sti'eel Newtownstewart Co Tyi'one BT78 4AA Bankers Santander Customei. Service Centre Bootle Merseyside L30 4GB Solicitors Babington & Croasdaile 29 Patrick Street Strabane Co Tyi"one BT82 8DQ Page
Douglas Bridge Cross Community Association Limited (Company limited by guarantee) Trustees, report for the year ended 31 December 2023 The truslees present theii. repoit and the financial statements for the year ended 31 December 2023. Directors oiricers of the chai'itable company, known as dii'ectors for the purpose of company law aiid trustees for the puipose of charity law, who sei'ved during the year and up to the date of this report are set out on page l of ihe finai)cial stateinents. Membeis of the charitable company guai'antee to contribute an amount not exceeding £ l io the assets of ihe charitable coinpany in the event of winding up. Charitable objects The charitable coinpany was established to improve the conditions of life foi- the inhabitants of the Douglas Bridge and District Ai'ea. To achieve this object, the charitable company aims to advance education and pi'ovide facilities, in the intei'est of social welfai'e, for I'ecreation oi- other leisui'e-time occupation for the inhabitants of the area. They aim to achieve this thi'ough paiticipalion of statutory bodies. voluntai'y organisations and indeed the inhabitants th¢mselves. Douglas Bridge Cross Community Association Limited is a registered charity with the Charity Commission for Northern Ireland since 20 July 2016, under i'egistration numbei. NIC100210. Organisational structure The trustees meet regularly, administer the charity and make all policy decisions. In accordance witli the Aiticles of Association the number of directoi-s shall not be less than three, and one thii'd ar¢ to retire each yeai. in rolalion. Related partAes The charitable company has a very close relationsliip with Douglas Bridge Cross Cominunity Association (hei'eaftei. known as the Association), which is also a charity. The Association organises a l'ange of cominunity social and I'ecreational activities and trips for woinen, the eldei'ly and children. It also undertakes various fundraising events in which to i'aise funds for its own activities and that of the company. The dii'ectors of the charitable company are also conimittee members of the Association. Revieiv of activities and achievements Dui'ing the year the charitable conipany continued its work with children thi'ough the youth club. Going concern The coiisidered view of the truslees is that, after making enquiries, they have a reasonable expectation Ihat the charitable ¢ompai)y will have adequate resources available to finance its ti'adiiig and other obligations for the foi'eseeable future. The trustees al'e nol aware of any events likely to occur in the twelve Inonths following tl)e date of Ihe appi-oval of the fiiiancial stateinents tliat may impact on the charitable company's ability lo continue as a going concei-n. We believe ihat it is therefore appi'opi'iat¢ foi- the charitable coinpany's fsnancial statements for tlie year ended 31 Deceniber 2023 to have been prepai'¢d on a going coi)cern basis. Reserves The results for the year are set out on page 6 of the financial statemenls. The purposes of the funds are outlined in the notes to Ihe financial statements. Investment powers? policy and performance Undei. the Memorandum and Aiticles of Association, the charitable company has the power to make any investment which the directors see fit. Page 2
Douglas Bridge Cross Community Association Limited (Company limited by guarantee) Trustees, report for the year ended 31 December 2023 Governance and internal control A strategy plan for tlie chai'ilable company and Douglas Bridge Cross Coininunily Association has been compiled by an independent evaluator. Risks continue to be i-eviewed aiinually by directors. Volunteers The charitable company is grateful for the unstinting efforts of its directors and other volunteers who have continually supported the activilies and management of the chai'ilable company throughout the year. As indicated in not¢ 7 to th¢ financial stateinents, the directors wei'e not in receipt of any i'emuneration noi- reimbursement of expenses in respect of Iheii. services during the year. Taxation The charilable company is accepted as a Charity by HM Revenue & Customs undei. reference XR44866 and therefoi'e is exempi from corporation tax. Statement of trustees, responsibilities The trustees al'e responsible foi. prepai'ing the Trustees, Report and the financial statements in accordance with applicable law and i'egulations. Company law and charity law requires the trustees to pi'epai'e financial statemeiits for each financial year. Under that law the trustees have elected to prepare the financial stateinents in accordance with applicable law and United Kiiigdom Accounting Standai'ds (United Kingdom Generally Accept¢d Accounting Pi'actice) including 'Accounting aiid Reporting by Charities.. Staleinent of Recommended Practice, (FRS 102 'The Financial Repoiting Standard applicable in the UK and Republic of Ireland,). Under company law the Irusle¢s must not approve the financial statements unless they are satisfied that they give a Irue and fair view of ihe state of affairs of the charilable coinpany and of the surplus oi. deficit for that year. In preparing these financial slaleinents, th¢ trustees al'e requii'ed to.. select suitable accounting poltcies and then apply them consislenily. make judgements and estimates that are reasonable ai)d pi'udent. state whether applicable accounting standards and stalemenls of recommended pi'actice have been followed subject to any departures disclosed and explained in the financial statements. and prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business. The trustees are responsible for keepiiig adequate accounting I'ecoi'ds that are sufficieiit to show and explain the charitable company's transactions aiid disclose with reasonable accui'acy at any time the financial position of the chai-itable coinpany and enable them to ensure that the financial statements comply with the Companies Act 2006 and witli the Chai-ities Act (NI) 2008. They are also responsible foi. safeguarding the assets of Ihe chai'itable company and hence for taking reasonable steps foi. the prevention and detection of fraud and oiher irregularities. Accountants The trustees i'ecoinmend that McFarland Arnold & Co remain in offi¢¢ until further notice. Page 3
Douglas Bridge Cross Community Association Limited (Company limited by guarantee) Trustees, report for the year ended 31 December 2023 Special provisions relating to small companies This repoit has been pi'epared in accoi'dance with Statement of Recommended Pi'actice: Accounting and Reporting by Chai'ities (FRS 102) and in accoi'dance wilh the special pi'ovisions of Pal't 15 of the Companies Act 2006 relaling to small entities. Thi5 I'eport was approved by the trustees on and signed on its behalf by SignAtiire: Name (In block capilals): CKS Trustee Page 4
Douglas Bridge Cross Community Association Limited (Company limited by guarantee) Accountants, report on the unaudited financial statements to the trustees of Douglas Bridge Cross Communxty Association Limited for the year ended 31 December 2023 In ordei. to assist you to fulfil your duties undei- the Companies Act 2006, we have compiled the financial statements of Douglas Bridge Cross Community Association Limited for the year ended 31 Decembei. 2023 as set out on pages 6 to 14. which comprise the statement of financial aclivities, the balance sheet and the related notes from the accounting records and information and explanations you have given to us. This report is made to the coinpany's board of iruslees, as a body, in accordanc¢ with the terms of oiir engagement. Our work has beeii undertaken so that we might Compile the financial statements that we have been engaged lo coinpile, report to the company's board of Irusl¢es that we l)ave done so, and state those matters that we have agreed to stale to them in this i'eport and for no othei. person. To the fullest extent permitted by law, we do not accept or as5uine respoi)sibility to anyone othei. than the Company and tlie company's board of directors, as a body, for our woi'k oi. for this report. Respective responsibilities of the and accountants You have acknowledged on the Balance Sheet for the year ended 31 December 2023 your I'esponsibilities as company's ti'uslees (who also act as directoi-s foi- the chai'itable a¢tivities of Douglas Bridge Cross Community Association Limited) for coinplying with the requirements of the Act with respect to accounting records and the pi'epai7tion of financial statements. You consider that the charitable company is exeinpt from the statutory requirement for an audit this financial year. Scope of work We have carried out this engagement in accordance with guidance issued by Chartered Accountaiits Ireland and have complied with Ihe Code of Ethics for Members published by the institute relating to members undertaking the cot))pilation of financial staleinents. We have not be¢n instructed to carl'y out an audit of ihe accounts. For ihis reason, we have not verified the accuracy or coinpleteness of the accounting i'ecords oi. inforination and explanations you have given to us and we do not, therefoi'e, express any opinion on the financial statemenls. Chartered Accountants Dated: McFarland Arnold & Co Chartered Accountants 8 Main Street Newtoivnstewart Co Tyrone Page S
Douglas Bridge Cross Community Association Limited (Company limited by guarantee) Statement of financial activities for the year ended 31 December 2023 Unrestricted Restricted funds funds 2023 Total 2022 Total Note5 Incoming resources Gi'ants Donations Insurance compensation 4,527 165 165 20,086 20,086 Total incoming resources 165 20,086 20,251 4,527 Resources expeiided Water rates Insurance Light and heat Repairs and Inaintenance Telephone and internet access Sundry equipment and youih club activity expenses Consullancy fees Accountancy fees General expenses Depreciation Total resoui'ces expended Net incoming resources before transfers 323 ,634 840 4.865 27 1,003 2,169 506 13 ,098 323 1,634 840 4,865 27 1,003 2,169 506 13 1,098 306 1,308 1,255 803 727 420 20 1,098 (12,478) (12,478) (5,937) (12,313) 20,086 7,773 (1,410) Transfei's between funds 8,561 (8,561) Net movement in funds (3,752) 11,525 7,773 (1,410) Total funds brought forward 15,321 44,264 59,585 60,995 Total funds carried fonvard 1,569 55,789 67,358 59,585 The notes on pages 9 to 14 form an integral part of these fjiiancial 5talemeiits. Page 6
Douglas Bridge Cross Community Association Limited (Company limited by guarantee) Balance sheet as at 31 December 2023 2023 2022 Notes Fixed assets Tangible assets 55,754 56,852 Current assets Debtors Cash at bank and in hand ,687 10,373 1,066 2,282 12,060 3,348 Creditors: amounts falling due within one year io (456) (615) Net current assets 1,604 2,733 Net assets 67,358 59,585 Funds Unresli'icted llds Resti'icted funds 12 13 11,569 55,789 15,321 44,264 67,358 59.585 The company is registei'ed as a private limited company in Northern Ireland undei. Registration Number N1040069. The trustees, statements required by Section 475 (2) and (3) are shown on the following page which fonns part of this Balance Sheet. The notes on pages 9 to 14 form an integral part of these financial statements. Pag¢ 7
Douglas Bridge Cross Community Association Limited (Company limited by guarantee) Balance sheet (continued) Trustees, statements required by Section 475 (2) and (3) for the year ended 31 December 2023 In approviiig these financial stateinents as ti'ustees of the charitable company we hei'eby confiiTh'. (a) that for the year slaled above the chai'itable company was entitled to the exemption confen'ed by Section 477 of the Coinpanies Act 2006 (b) that no notice has been deposited at the registered office of the charitable company pursuant to Section 476 of the Compani¢s Act 2006 I'equesling that an audit be conducted for the yeai. ended 31 December 2023 and (c) that we acknowledge oui. responsibilities for: ( l) ensuring that tlie chai'itabl¢ company keeps accounting recoi'ds which comply with Section 386 of the Companies Act 2006, and (2) pi'epai'ing finaiicial statements which give a true and fair view of the slate of affaii's of tlie charitable company as at the end of the financial year aiid of ils surplus oi. deficit for the year then ended in accoi'dance with the requirements of Section 393 of the Compai)ies Act 2006 and which othei'wise comply with the provisions of the Companies Act 2006 relating to financial statements, so fai- as applicable to Éhe chai'itable colpanY. These fii)ancial statements are prepared in accordance with the Statemeiit of Recommended Practice.. Accouiiting and Reportiiig by Chai-ities (FRS 102 'The Financial Repoi'ting Standard applicable in the UK and Republic of Ireland'} and in accoi'dance with the special provisions of Part 15 of the Companies Act 2006 applicable to compani¢s subject to the Small companies regime. The financial statements were approved by the Board on a 5 IOIW and signed 01) its behalf by Signature: Signatur¢: Naine (in block capitals): Name (in block capitals).. Trustee Tyustee The notes on pages 9 to 14 form an integral part of these financial statements. Page 8
Douglas Bridge Cross Community Association Limited (Company limited by guarantee) Notes to the financial statements for the year ended 31 December 2023 General information The coinpany is a private limited company, liinited by guarantee, which was incorporated under the Companies (Noithern li'eland) Oi-dei- 1986 under Registration Number N1040069. 11 is also i-ecogiiised as a charity by tlie HM Revenue & Customs under Reference Numbei. XR44866. Tlie company is a registered charity with the Chai'ity Commission for Northern Ireland since 20 July 2016 under i'egistration number NIC100210. The address of the registered offic¢ is 63-65 Cainus Road, Douglas Bridge, Sirabane, Co Tyrone, BT82 8QE. Statement of compliance These financial statenients have been prepared in compliaiice with Accounting and Reporting by Charities.. Stateinent of Recomniended Pi'actice (FRS 102, 'The Financial Reporting Siandard applicable in tlie UK and the Republic of Ireland,) and in accordance with the Companies Act 2006. Accounting policies Basis of preparation The financial statements are pyepared under the hislorical cost convention and in accoi'dance with Accounting and Reporting by Charities: Siatement of Recommended Practice (FRS 102, 'The Financial Repoiting Standard applicable in the UK and the Republic of Ireland,) The charity has taken advantage of th¢ exemption in FRS 102 Section IA from the requirement to produce a cashflow statement because it is a small charity. The presenlation currency of these financial statemenls is sterling. Incoming resources All incoming resources are included in the statement of financial activities when the chariiy is entitled to the income and the amount can be quantified with reasonable accui'acy. The following sp¢cific policies are applied to particular categories of income.. Voluntary income is received by way of grants, donations and gifts and is included in full in the statement of rinancial activities wh¢n receivable. Grants where enlitlement is iiot conditional on the delivery of a specific pei'formance by the chai'ity, are r¢cognised when the chai'ity becomes unconditionally entitled lo the grant. Donated services and facilities are included at the value to the charity where Ihis Can be quaiitified. The value of sei'vices provided by volunteers ha5 1)ot been included. Resources expended Resources expended are I'ecognised in the year in which they are incurr¢d. Supporl costs are those costs incurred directly in support of expenditure oil the object5 of the charity and include project management. Page 9
Douglas Bridge Cross Community Association Limited (Company limited by guarantee) Notes to the financial statements for the year ended 31 December 2023 3.4. Tangible fixed assets and depreciation Tangible fixed assets costing more than £ 100 are capilalised and included al th¢ir purchase costs, tog¢ther with any incidental ¢xp¢ns¢s of acquisition. Depi'eciation is provided at rates calculated lo write off the cost less residual value of each asset over its expected useful life, as follows.. Land Buildii)gs Fixtures, fittings and equipment Nil Sti'aight line ovei. 50 years straight line over 5 years The cai'ryiiig values of tangible fixed assets aj'e reviewed annually for impairnient, if events or chat)ges in circumstances indicate the can'ying value may not be recoverable. 3.5. Fund accounting Ui)restricted funds I'elate to general funds which are available for use at the disci-etion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes. Resti'icted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which hav¢ been raised by the charity for particular pui'poses. Tl)e cost of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements. 3.6 Taxation The company is registered as a charity for tax pury)oses under I'eference number XR44866. As a chai'ity, Douglas Bridge Cross Community Association Limited is exempt from lax on ii)come and gains falling within Section 505 of the Taxes Act 1988 or Sectioii 256 of tlie Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its chai'ilable objects. No tax charges have Ihei'efore arisen for the company foi. th¢ year ended 31 December 2023. Impairment A review foi. indicators of impaii'ment is cari'ied out al each reporting date, with the recovei'able amount being estimated where such indicators exist. Where the carrying value exceeds the recovei'able amount, the asset is iinpaii-ed accoi'dingly. Prior impairments al'e also reviewed foi. possible r¢vei'sal at each i-eporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the i-ecovei'able amount of the cash-genei'ating unit to which ihe asset belongs. The cash-genei'ating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that al-e largely independent of the cash inflows from othei. assets or gi-oups of assets. Page 10
Douglas Bridge Cross Community Association Limited (Company limited by guarantee) Notes to the financial statements for the year ended 31 December 2023 Financial instruments A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the insti'ument. Basic financial insti'unients are initially recognised at the transaction price, unless the arrangement constitutes a financing Iransaction, where it is i'ecognised at Ihe present value of the future payments discounted at a markel rate of interest for a siinilar debt insti'uinent. Debt instruments are subsequently measured at amortised cost. Financial assets that are ineasured at cost or amortised cost are reviewed for objective evidence of iinpaiiThent at the end of each i'eporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss iminediately. Foi. all equity instruments regai'dless of significance, aiid other fsnancial assets that are individually significant, these al'e assess¢d individually for impaii'inent. Otlier financial assets oi. either assessed individually or gi'ouped on the basis of sitnilar credit risk characteristics. Any reversals of impaii'ment are recognis¢d in proFIt or loss immediately, to the extent that the revei-sal does not result in a Carrying amount of th¢ financial asset that ¢xceed5 what the cai'rying amount would have been had the impairmeiit i)ot pi'eviously been i'ecognised. Gi'antlRestricted ineome Restricted funds 2023 2022 Deiry City & Strabane District Council AXA insurance compensation 4,527 20,086 20,086 20,086 20,086 4,527 Net movement in funds 2023 2022 Net movement in funds is stated aftei. chai'ging.. Depreciation and other amounts written off tangible assets Ti'ansf¢r betweeii funds.. Release of revenue and capital grants ,098 1,098 8,561 6,053 Pagell
Douglas Bridge Cross Community Association Limited (Company limited by guarantee) Notes to the financial statements for the year ended 31 December 2023 Employees Number of employees 2023 Number 2022 Number The avei'age rnonthly numbers of employees (including the trustees) dui-ing the yeai. were.. Trustees, emoluments The ti'ustees neither received nor waivered any emoluinents dui'ing the year. Land and Fixtures, buildings fittings and freehold equipment Tangible fixed assets Total Cost At l January 2023 At 31 December 2023 79,910 9,215 89,125 Depreciation At l January 2023 Chai'ge foi. the yeai. At 31 Decembei. 2023 23,058 1,098 9,215 32,273 1,098 24,156 9,215 33,371 Net book values At 31 December 2023 55,754 55,754 Al 31 December 2022 56,852 56,852 Debtors 2023 2022 Prepayments and acci'ued income 1,687 1,066 10. Ci'editoi's: amounts falling due within one year 2023 2022 Accruals and defeii'ed income 456 615 Page 12
Douglas Bridge Cross Community Assoeiation Limited (Company limited by guarantee) Notes to the finaneial statements for the year ended 31 December 2023 11. Analysis of net assets between funds Unrestricted Restrieted funds funds Total funds Fund balances at 31 December 2023 as repi'esented by: Tangible fixed assets Cun-ent assets Cui'rent liabilities 13,016 (991) (456) 42,738 13,051 55,754 12,060 (456) 11,569 55,789 67,358 12. Unrestricted funds l January 2023 Incoming Outgoing Transfer5 31 December 2023 General fund 15,321 165 (12,478) 8,561 11,569 15,321 165 (12,478) 8,561 11,569 Purposes of unrestri¢ted funds General funds are funds which al'e available for use at the discretion of the directors in rthe1.anCc of the general objectives of ihe charity and which have not been desigi)ated for othei. pui'poses. 13. Restricted funds l January 2023 Incoming Transfers 31 December 2023 Neutral venue AXA insurance compensation 44,264 (1,526) (7,035) 42,738 13,051 20.086 44,264 20,086 (8,561) 55,789 Purposes of restricted funds Restricted funds are funds which are to be used in accordance with specific restrictions iinposed by donors or which have been I'aised by the Charity for particular purposes. The cost of raising and administering such funds is Chai'ged against ihe specific fund. The aim and use of each resti'icted fund is set out in the nole above. Restricted funds relate to the costs of building and purchasing equipment for Douglas Bridge Cross Community Centre togethei. with specific pi'ojects as noted above. Gi'ants i'eceived during Ihe yeai- al'e outlined in note 4 of the financial statements. Page 13
Douglas Bridge Cross Community Association Limited (Company limited by guarantee) Notes to the financial statements for the year ended 31 December 2023 14. Related party transactions The charitable company has a very close i'elationship with Douglas Bridge Cross Coinmunity Association (hei'eafter known as the As50ciation), which is also a charity. The Association organises a l'ange of community social and recreational activities and Irips foi. Wolen, the elderly and children. It also underlakes various fundraising events in which lo raise funds for ils own activities aiid that of the chai'ilable company. The dii'ectoi's of the chai'itable company are also committee membei's of the Association. Is. Transa¢lions with trustees The trustees attend Ineetings and caii'y out the business of the charitable company on a voluntary ba51S. 16. Going concern The considei'ed view of the trustees is that, aftei. making enquii'ies, they liave a reasonable expectation that the charitable company will have adequate resources available to finance its trading and other obligations for the foi'eseeable fiitur¢. The trustees are not aware of any evenls likely to occur in the twelve months following the date of th¢ approval of the financial statements that may impact on the chai'itable company's ability to continue as a going conceiij. We believe that il is therefore appropriate for the chai'ilable company's financial statements for the year ended 31 Decembei. 2023 to have been prepared on a going conceim basis. 17. Legal status The company is a company limited by guarantee, having no share capital. The liability of the members in the event of winding up is liinited to £ l. 18. Charity Commission for Northern Ireland Douglas Bridge Cross Community Association Limited is a i'egislei'ed charity with the Charity Comniission for Noithei'n li'eland since 20 July 2016, under registration number NIC100210. Page 14