COMPANY REGISTRATION NUMBER: N1029953
CHARITY REGISTRATION NUMBER: 100527
River Valley Development Association Limited
Company Limited by Guarantee
Unaudited Financial Statements
31 December 2023
PURDY QUINN
Chartered Accountants
42 Greencastle Street
KILKEEL
Co Down
BT34 4BH

River Valley Development Association Limited
Company Limited by Guarantee
Financial Statements
Year ended 31 December 2023
Page
Trustees, annual report (incorporating the director's report)
Report to the board of trustees on the preparation of the
unaudited statutory financial statements
14
Statement of financial activities (including income and
expenditure account)
Statement of financial position
Notes to the financial statements
8-18

River Valley Development Association Limited
Company Limited by Guarantee
Trustees, Annual Report (Incorporating the Director's Report)
Year ended 31 December 2023
The trustees, who are also the directors for the purposes of company law, present their report and the
unaudited financial statements of the charity for the year ended 31 December 2023.
Reference and administrative details
Registered charity name
River Valley Development Association Limited
Charity registration number
100527
Company registration number N1029953
Principal office and registered Hanna's Close
office
87 Aughnahoory Road
KILKEEL
Co Down
BT34 4AH
The trustees
Mr l Hanna
Mr J Callaghan
Mr R Forsythe
Mrs N Fisher
Mr D W Hanna
Mr J G Hanna
Mr G Fisher
Ms S Hanna
Mr M A Chambers
Mrs G Fisher
Mrs G Hanna
Mrs K Hanna
Mr G J Mitchell
(Resigned 1 October 20231
(Resigned 2 March 2023}
(Resigned 10 October 2023)
Accountants
Purdy Quinn
Chartered Accountants
42 Greencastle Street
KILKEEL
Co Down
BT34 4BH

River Valley Development Association Limited
Company Limited by Guarantee
Trustees. Annual Report (Incorporating the Director's Report) (contlnued)
Year ended 31 December 2023
Structure, governance and management
The charity was incorporated under the Companies (Northern Ireland) Order 1986, being a Company
limited by guarantee not having a share capital. The date of incorporation was 18 Septemb8r 1995.
The company was formally recognised by the Charity Commission for Northern Ireland on 11 March
2015. The company is governed by its Memorandum and Articles of Association.
River Valley Development Association Limited IRVDAI is managed by a Board of Directors. As
required on an ad hoc basis, the Board Members are responsible for considering the appointment of
potential new Board Members to the Board. Suitable people are approached and if they are willing to
serve on the Board, their nomination is put fomard for approval by the Board. There is no maximum
terrn of office. Induction and training of directors is provided in house.
The accounts are prepared in accordance with the Companies Act 2006 and the Accounting and
Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their
accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of
Ireland (FRS 102} (effective 1 January 2015) (Charities SQRP {FRS 102)}, the Financial Reporting
Standard applicable in the UK and Republic of Ireland (FRS 102).
Objectives and activities
The charity's principal activity is working for the general benefit of the inhabitants of the lown lands of
Aughnahoory, Ballinran, Carrigenagh. Leitrim and Aughnaloopy, Kilkeel, County Down and their
surrounding areas without distinction of age, sex or of political, religious or other opinions by
promoting general community projects of a social nature wilh the object of improving the conditions of
life for the said inhabitants and to stimulate and promote the economic potential of the area.
Achievements and performance
River Valley Development Association Limited had another busy year with cottage bookings in 2023.
The board met regularty throughout the year. Laura Johnston (Project Officer) has been a great asset
to the board, and she has helped to run the Easter and Halloween events successfully.
The board and volunteers continued to support Laura with her grant applications and heritage
workshops.
Some cosmetic maintenance was carried out to Ihe interiors of the cottages which has really helped
the overall look. The staff continue to work at housekeeping and external ground works and many
thanks go to them for their dedicated service.
Overall management of the cottage rental business has continued to be carried out by Stacey Hanna
on a voluntary basis. As a board we are extremely thankful to her for her efforts, she is also supported
by other members of the board on a rotational basis.
We look forward to a successful new year in 2024 and will continue to run Hanna's Close in
accordance with its charitable aims.

River Valley Development Association Limited
Company Limited by Guarantee
Trustees, Annual Report (Incorporating the Director's Report) {contlnuedJ
Year ended 31 December 2023
Financial review
Incon7e
The results of the charity are set out on pages 6 and 7 of the accounts.
The income from charitable activity within the organisation totalled £66,46412022 £89,013) for the
year ended 31 December 2023.
The charity continued to receive donations from community events held during the year.
Project funding was also received from The Heritage Lottery Fund, The National Lottery Fund. Newry
Mourne & Down District Council and Ulster Scots Agency.
Restricted grant funding of £54,981 (2022- £25,519) was recognised as income in the year to 31
December 2023. Grants received, but not spent at 31 December 2023 have been recorded as
restricted funds and will be expensed in the future, as the associated obligations are meet.
Grant offers, where the funds have not been received by RVDA at 31 December 2023 have been
recorded as income only to the extent that restricted expenditure has been incurred in line with the
Letter of Offer.
The total income recorded for the year ended 31 December 2023 was £126,120 (2022 - £123,998).
enditure
The total costs incurred by River valley Development Association increased from £114,170 in 2022 to
£122,006 for the year ended 31 December 2023. This rise of £7,836 (6.9'/0) included expenditure
that was exceptional in nature and did not relate to the nomial (unrestricted) running costs of RVDA:
£40,139 (2022 £20,906) of the total cost was in relation to projects funded by grant income during
the year. 2023 was the first year to include the cost of our Project Officer for an entire year.
As rental activity was reduced in 2023, the labour costs associated with housekeeping were also
reduced. Cost savings have also been made with volunteers taking a more active role in the
management of RDVA.
Cottages underwent continued repair and maintenance during 2023.
Sur
Overall River valley Development Association reported a surplus for the year of £4,114 (2022
£9,828).
River valley Development Association Gontinued to repay its bank loan and the loan from the Ulster
Community Trust during 2023.
Following completion of the 'Hay Shed, and full utilisation of grant funding, the building was transferred
to the unrestricted assets of R VDA.

River Valley Development Association Limited
Company Limited by Guarantee
Trustees. Annual Report (Incorporating the Director's Report) (continued)
Year ended 31 December 2023
Plans for future periods
Reserves Policy
RVDA operates its charitable activities with unrestricted reserves totalling £24,682 (2022- £24,960).
These unrestricted reserves are primarily represented by the fixed asset of organisation. The
directors are aware thal Ihis position should be reviewed on an ongoing basis to ensure that the
charity does not face any future cash flowlfunding difficulties.
The nature of the properties within RVDA require significant funds simply to maintain them.
The directors would emphasise that the reported reserves were a result of the accounting policy
adopted regarding Deferred Capital Grants - see note 3.
Going Concern
The directors believe that the charity's accounts should be prepared on a going concern basis on the
grounds that current and future sources of funding or support will be adequate for the charity's need5.
The directors have considered a period of twelve months from the date of approval of the accounts
and believe that the disclosures relating to the charity's ability to continue as a going concern made in
the accounts are more than adequate.
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entilled to
the small companies exemption.
The trustees, annual report was approved on 26 September 2024 and signed on behalf of the board of
trustees by:
Mr D W Hanna
Trustee

River Valley Development Association Limited
Company Limited by Guarantee
Report to the Board of Trustees on the Preparation of the Unaudited Statutory
Financial Statements of River Valley Development Association Limited
Year ended 31 December 2023
report on the financial statements for the year ended 31 December 2023, which comprise the slalemenl of
financial activities (including income and expenditure 8¢¢ountl, statement of financial position and the related
notes.
RESPECTIVE RESPONSIBILITIES OF DIRECTORS AND EXAMINER
The charity's directors are responsible for the preparation of the accounts in accordance wlh the requirements of
the Companies Act 2006. Having satisfied myself that the charity is not subject to audit under company law, and
is eligibSe for independent examination, il is my responsibility to..
•examine the accounts under section 65 of the Charities Act..
•follow the procedures laid down in the general Directions given by the Charity Commission for Northern
Ireland under section 6519llbl of the Charities Act.. and
• state whether particular matters have com8 to my attention.
BASIS OF INDEPENDENT EXAMINER'S REPORT
I have examined your charity accounts as required under section 65 of the Charities Act and my examination was
carried out in accord2nce with the general Directions given by the Charity Commission for Northern Ireland under
section 6519llbl of the Charities Act. The examination included a review of the accounting records kept by the
charity and a comparison of the accounts presented with those records. It also included consideration of any
unusual ilerns or disclosures in the accounts, and seeking explanations from the directors conceming any such
matters.
My role is to state whether any material matters have come to my attention giving me cause lo believe..
That accounting ￿cOrdS were not kept in accordance with section 386 of the Companie5 Act 2006.
That the accounts do not accord with those accounting records.
That the accounts do not comply with the accounting requirements of section 396 of the Companies Act
2006 and with the methods and principles of the Charit'es Statement of Recommended Practice applicable
lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the
UK and Republic of Ireland.
That there is further information needed for a proper understanding of the accounts lo be reached.
INDEPENDENT EXAMINER'S STATEMENT
I have completed my examination and have no concems in respect of the matters (11 to141 listed above 8nd, in
connection with following the Directions of the Charity Commission for Northem Ireland, I h8ve found no matters
that require drawing lo your attention.
26th September 2024
Una Cunningham FCA
Chartered Accounlanls Ireland
PURDY QUINN
Chartered A¢counlants
42 Greencaslle Street
KILKEEL
Co Down
BT34 48H

River Valley Development Association Limited
Company Limited by Guarantee
Statement of Financial Activities
(including income and expenditure account)
Year ended 31 December 2023
2023
Restricted
funds Total funds Total funds
2022
Unrestricted
funds
Note
Income and endowments
Donations and legacies
Charitable activities
Other income
4,675
66,464
54,981
59,656
66,464
34,902
89,013
83
Total income
71,139
54,981
126,120
123,998
Expenditure
Expenditure on charitable activities
Other expenditure
Total expenditure
81,767
100
40,139
121,906
100
113,266
904
81,867
40,139
122,006
114,170
Net income
{10,7281
14,842
4,114
9,828
Transfers between funds
10,450
{10,450)
Net movement in funds
(278)
4,392
4,114
9,828
Reconciliation of funds
Total funds brought forward
Total funds carried fonvard
24,960
8,025
32,985
23,157
24,682
12,417
37,099
32.985
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
The notes on pages 8 to 18 form part of these financial statements.

River Valley Development Association Limited
Company Limited by Guarantee
Statement of Financial Position
31 December 2023
2023
2022
Note
Fixed assets
Tangible fixed assets
15
365,451
381,315
Current assets
Debtors
Cash at bank and in hand
16
10,474
43,096
10,967
89,508
53,570
100,475
Creditors: amounts falling due within one year
Net current assets
17
43,423
85,952
10,147
14,523
Total assets less current liabillties
375,598
395,838
Creditors: amounts falling due after more than one year
Net assets
18
338,499
362,853
37.099
32,985
Funds of the charity
Restricted funds
Unrestricted funds
12,417
24,682
8,025
24,960
Total charity funds
23
37,099
32,985
For the year ending 31 December 2023 the charity was entitled to exemption from audit under section
477 of the Companies Act 2006 relating to small companies.
Directors, responsibilities:
The members have not required the company to obtain an audit of its financial statements for the
year in question in accordance with section 476.,
The directors acknowledge their responsibilities for complying with Ihe requirements of the Act
with respeGt to accounting records and the preparation of financial statements.
These financial statements have been prepared in accordance with the provisions applicable to
companies subject to the small companies, regime.
These financial statements were approved by the board of trustees and authorised for issue on 26
September 2024, and are signed on behalf of the board by..
Mr D W Hanna
Trustee
Mrs G Fisher
Trustee
The notes on pages 8 to 18 form part of these financial statements.

River Valley Development Association Limited
Company Limited by Guarantee
Notes to the Financial Statements
Year ended 31 December 2023
General information
The charity is a public benefit entity and a private company limited by guarantee, registered in
Northern Ireland and a registered charity in Northern Ireland. The address of the registered office
is Hanna's Close, 87 Aughnahoory Road, KILKEEL, Co Down, BT34 4AH.
Statement of compliance
These financial statements have been prepared in compliance with FRS 102, 'The Financial
Reporting Standard applicable in the UK and Ihe Republic of Ireland,, the Statement of
Recommended Practice applicable lo charities preparing their accounts in accordance with the
Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Charities
SORP (FRS 1021) and the Companies Act 2006.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the
revaluation of certain financial assets and liabilities and investment properties measured at fair
value through income or expenditure.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
A surplus of £4,114 {2022 - £9,828) was reported for the year ended 31 December 2023.
The Charity continues to be very conscious of minimising expenditure. Although costs increased
during the 2023 accounting period, the increase was shown lo have related to costs were grant
funding had been secured. The grant income of the charity increased accordingly.
The property letting income figures for 2023 were reduced from the exceptional year reported in
2022. The Board are hopeful that this income can be maintained.
The directors are confident that therè will be sufficient cash flow to make the day-to-day
payments and the monthly loan repayments in the foreseeable future.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements,
estimates and assumptions that affect the amounts reported. These estimates and judgements
are continually reviewed and are based on experience and other factors. including expectations
of future events that are believed to be reasonable under the circumstances.

River Valley Development Association Limited
Company Limited by Guarantee
Notes to the Financial Statements (contlnugdj
Year ended 31 December 2023
A¢¢ounting policies (continued)
Fund accounting
Unrestricted funds are available for use at the discretion of the trustees to further any of the
charity's purposes.
Designated funds are unrestricted funds earmarked by the trustees for particular future project or
commitment.
Restricted funds are subjected to restrictions on their expenditure declared by the donor or
through the terms of an appeal, and fall into one of sub-classes: restricted income funds or
endowment funds.
Incoming resources
All income is included in the statement of financial activities when entitlement has passed to the
charity, it is probable that the economic benefits associated with the transaction will flow to the
charity and the amount can be reliably measured. The following specific policies are applied to
particular categories of income..
Income from self-catering cottages is recorded in line with the booking date.
Other income is recognised in the period in which it is receivable and to the extent the goods
have been provided or on completion of the service.
Income from donations or grants is recognised when there is evidence of entitlement to the
gift, receipt is probable, and ils amount can be measured reliably.
Income from contracts for the supply of services is recognised with the delivery of the
contracted service. This is classified as unrestricted funds unless there is a contractual
requirement for it to be spent on a particular purpose and returned if unspent, in which case it
may be regarded as restricted.
Resources expended
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any
VAT which cannot be fully recovered, and is classified under headings of the statement of
financial activities to which it relates..
expenditure on raising funds includes the costs of all fundraising activities, events.
non-charitable trading activities, and the sale of donated goods.
expenditure on charitable activities includes all costs incurred by a charity in undertaking
activities that further its charitable aims for the benefit of its beneficiaries, including those
support costs and costs relating to the governance of the charity apportioned to charitable
activitie5.
other expenditure includes all expenditure that is neither related to raising funds for the
charity nor part of ils expenditure on charitable activities.
All costs are allocated to expenditure categories reflecling Ihe use of the resource. Direct costs
attributable to a single activity are allocated directly to that activity. Shared costs are apportioned
be￿een the activities they contribute to on a reasonable, justifiable and consistent basis.

River Valley Development Association Limited
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 December 2023
Accounting policies (contlnued)
Tangible assets
Fixed assets are stated at cost less accumulated depreciation.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset. less its residual
value, over the useful economic life of that asset as follows:
Leasehold property
Pathways Project
Fixtures and fittings
2 % straight line
50/0 Straight line
150/0 reducing balance
Government grants
Deferred capital grant
The directors have relied on the True and Fair, override when accounting for deferred capital
grants.
The Statement of Recommended Practice, applicable to charities preparing their
accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic
of Ireland {FRS 102) leffeclive 1 January 20151 (Charitie5 SORP {FRS 1021), recommends that
the income from donations or grants is recognised when there is evidence of entitlement to the
gift, receipt is probable and its amount can be measured reliably. This has not been applied by
the charity as it would falsely inflate the reserves of the charity and distort its future trading
performance. The charity merely holds a lease on restored properties that will revert back to their
owners in dup Gourse.
Deferred capital grants in respect of capital expenditure are treated as deferred income and are
credited to the profit and loss account over the estimated useful life of the assets to which they
relate.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which
the related service is provided. Prepaid contributions are recognised as an asset to the extent
that the prepayment will lead to a reduction in future payments or a cash refund.
When contributions are not expected to be settled wholly within 12 months of the end of the
reporting date in which the employees render the related service, the liability is measured on a
discounted present value basis. The unwinding of the discount is recognised as an expense in
the period in which il arises.
10

River Valley Development Association Limited
Company Limited by Guarantee
Notes to the Financial Statements (contlnued)
Year ended 31 December 2023
Llmited by guarantee
The Charity is incorporated under the Companies (Northern Ireland> Order 1986 as a Company
limited by guarantee and not having a share capital, with Company Number N1029953.
Donations and legacies
Unrestricted
Funds
Restricled Total Funds
Funds
2023
Donations
Donations
Community events
433
3,042
433
3,042
Grants
Awards for All {Lottery)
Ulster Scots Agency
Tourism Nl
NMDDC
National Lottery Heritage Fund
Keep Nl Beautiful
National Lottery - Main Grant
National Lottery Community Fund
Government grant incorne
1,975
1,430
1,975
1,430
3,721
31,791
3,721
31,791
9,700
6,364
9,700
6,364
1,200
1.200
4.675
54,981
59,656
Unrestricted
Funds
Restricterj Total Funds
Funds
2022
Donations
Donations
Community events
1,175
8,208
1,175
8,208
Grants
Awards for All (Lottery}
Ulster Scots Agency
Tourism Nl
NMDDC
National Lottery Heritage Fund
Keep Nl Beautiful
National Lottery- Main Grant
National Lottery Community Fund
Govemment grant income
664
5,295
9,310
10,250
664
5,295
9,310
10,250
9,383
25,519
34,902
11

River Valley Development Association Limited
Company Limited by Guarantee
Notes to the Financial Statements {contlnued)
Year ended 31 December 2023
Charitable activities
Unrestricted Total Funds Unrestricted Total Funds
Funds
2023
Funds
2022
Accommodation
Community Support
64,664
1,800
64,664
1,800
85,397
3,616
85,397
3,616
66,464
66,464
89,013
89,013
Other income
Unrestricted Total Funds Unrestricted Total Funds
Funds
2023
Funds
2022
Sundry income
83
83
Exp8nditur8 on charitable activities by fund type
Unrestricted
Funds
Restricted Total Funds
Funds
2023
Preservation of historical buildings & community
Support costs
70,562
11,205
40,139
110,701
11,205
81,767
40,139
121,906
Unrestricted
Funds
Restricted Total Funds
Funds
2022
Preservation of historical buildings & community
Support costs
82,090
10,270
20,906
102,996
10,270
92,360
20,906
113,266
Expenditure on charitable activities by activity type
Activities
undertaken
directly Support costs
Total funds
2023
Total fund
2022
Preservation of historical buildings &
community
Govemance costs
110,701
5,472
5,733
116,173
5,733
109,010
4,256
113,266
110,701
11,205
121,906
12

River Valley Development Association Limited
Company Limited by Guarantee
Notes to the Financial Statements fcontinued)
Year ended 31 December 2023
10. Analysis of support costs
Analysis of
support costs
activily 1 Total 2023 Total 2022
Finance costs
Governance costs
Depreciation
Amortisation
1,958
5,733
20,119
(16,6051
11,205
1,958
5,733
20,119
(16,6051
11,205
2,317
4,256
20,302
(16,605}
10,270
11. Other expenditure
UnrestriGted Total Funds Unrestricted Total Funds
Funds
2023
Funds
2022
Donation
100
100
904
904
12. Net income
Net income is stated after ¢hargingllcreditingl:
2023
2022
Depreciation of tangible fixed assets
20,119
20,302
13. Staff costs
The total staff costs and employee benefits for the reporting period are analysed as follows:
2023
2022
Wages and salaries
Employer contributions to pension plans
47,059
563
45,137
188
47,622
45,325
The average head count of employees during the year was 6 (2022: 7).
No employee received employee benefits of more than £60,000 during the year (2022: Nil).
14. Trustee remuneratlon and expenses
No director received any remuneration, and no directors claimed any expenses during the year in
connection with their duties. See related party note 24.
13

River Valley Development Association Limited
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 December 2023
15. Tangible fixed assets
Leasehold
propety
Pathways Fixtures and
Project
fittings
Total
Cost
At 1 January 2023
Additions
698,493
1,975
59,930
59,979
2,280
818,402
4,255
At 31 December 2023
700,468
59,930
62,259
822.657
Depreciation
At 1 January 2023
Charge for the year
At 31 December 2023
340,393
13,809
53,245
2,997
43,449
3,313
437,087
20,119
354,202
56,242
46,762
457,206
Carrying amount
At 31 December 2023
346,266
3,688
15,497
365,451
At 31 December 2022
358,100
6,685
16,530
381,315
16. Debtors
2023
2022
Trade debtors
Prepayments and accrued income
5,891
4,583
8,779
2,188
10,474
10,967
17. Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
Trade creditors
Accruals and deferred income
Social security and other taxes
Loan < 1 year
Other creditors
2,445
11,154
13,688
9,705
5,422
1,009
2,384
15,316
56,274
4,533
5,499
1,946
43,423
85,952
14

River Valley Development Association Limited
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 December 2023
18. Creditors: amounts falling due after more than one year
2023
2022
Accruals and deferred income
Loan > 1 year
335,326
3,173
351,931
10,922
338,499
362,853
19. Deferred income
2023
2022
At 1 January 2023
Amount released to income
351,931
{16,605)
335,326
368,536
(16,605)
351,931
At 31 December 2023
20. Pensions
Defined contrlbution plans
The amount recognised in income or expenditure as an expense in relation to defined
contribution plans was £563 {2022-. £188}.
21. Government grants
The amounts recognised in the financial statements for government grants are as follows..
2023
2022
Recognised in creditors..
Deferred govemment grants due after more than one year
335,326
351,931
All capital grants are credited to the balance sheet to be amortised over the length of the
ownership of the assets. Amortisation at 20/0, 50/0 and 15Q/o on propety, plant and machinery and
fixtures and fittings respectively have been provided through the financial statements in line with
the accounting policy on depreciation. All revenue grants have been credited to the profit and
loss account when received.
15

River Valley Development Association Limited
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 December 2023
22. Analysis of charitable funds
Unrestricted funds
At1
January
2023
At31
December
2023
Income Expenditure Transfers
General funds
Original Contribulions
5,914
19,046
71,139
181,867)
10,450
5,636
19,046
24,960
71,139
(81,867)
10,450
24,682
At1
January
2022
At31
December
2022
Income Expenditure
Transfers
General funds
Original Contributions
{3,914)
19,046
98,479
{93,264}
4,613
5,914
19,046
15,132
98.479
(93,264}
4,613
24,960
Restricted funds
At1
January
2023
At31
December
2023
Income Expenditure
Transfers
Awards for All (Hay Shed)
NMDDC
Ulster Scots
Tourism Nl
National Lottery Heritage Fund
Keep Nl Beautiful
National Lottery Community Fund
National Lottery- Main Grant
8,025
1,975
3,721
1,430
(10,000)
(450}
(3,271 >
{1,4301
31,791
(25,738)
6,053
6,364
9,700
6,364
{9,700)
{40,139} (10,450}
8,025
54,981
12,417
At1
January
2022
At31
December
2022
Income Expenditure
Transfers
Awards for All (Hay Shed}
NMDDC
Ulster Scots
Tourism Nl
National Lottery Heritage Fund
Keep Nl Beautiful
National Lottery Community Fund
National Lottery - Main Grant
8,025
8,025
5,295
(5,295)
664
9,310
10,250
1664)
(8,521)
{6,426)
{789)
(3,8241
8,025
25,519
(20,906)
14,613)
8,025
16

River Valley Development Association Limited
Company Limited by Guarantee
Notes to the Financial Statements (Gontinuedj
Year ended 31 December 2023
23. Analysis of net assets between funds
Unrestricted
Funds
Restricted Total Funds
Funds
2023
Tangible fixed asset5
Current assets
Creditors less than 1 year
Creditors greater than 1 year
Net assets
30,125
335,326
365,451
31,453
22,117
53,570
133,723)
{9,700)
143,423)
(3,173} {335,326} (338,499)
24,682
12,417
37,099
Unrestricted
Funds
Restricted Total Funds
Funds
2022
Tangible fixed assets
Current assets
Creditors less than 1 year
Creditors greater than 1 year
Net assets
21,359
359,956
381,315
55,594
44,881
100,475
141,071)
(44,881)
(85,952)
110,922) {351,931) (362,853)
24,960
8,025
32,985
24. Capltal commitments
The directors have confirmed that there were no capital commitments at 31 December 2023.
25. Contingencies
The directors have confirmed that there were no contingent liabilities which should be disclosed
at 31 December 2023.
26. Related partie5
The directors are the ultimate controlling party of the charity.
The charity has continued to lease 10 cottages during the year.
These 10 properties are leased from three directors of the Charity.
The directors of the charity have supplied the properties as follows..
Director
Mrs N Fisher
& Mr G Fisher
Cottage
Stable
Barn
W John's
Carthouse
George's
Johnny's
Tommy's
The Office
Director
Mr J Callaghan
Cottage
Murphy's
Callaghan's
17

River Valley Development Association Limited
Company Limited by Guarantee
Notes to the Financial Statements (continued}
Year ended 31 December 2023
26. Related parties {¢ontlnued)
The two Callaghan properties had their leases extended to 2023 and the remaining eight leases
at Hanna's Close were for 50 years, commencing in 1998.
The owners of the properties received no monetary value for the leases. The properties will
revert back to the owners at the end of the respective leases for no consideration.
During the year the charity was invoiced £12,458 (2022 - £3,901 } from a business controlled by a
close family member of director G Fisher. Further work physically carried during the 2023 year
was invoiced at £9,700 in the post balance sheet period. These costs represented commercia
Iransactions in relation to services provided by the business with regard to ground maintenance
contracts, repairs and grant projects. At the balance sheet date, the business related to G Fisher
was owed the accrued £9,700 {2022 - £Nil).
During the year the charity was invoiced £Nil (2022 £7,350) from Mourne Landscapes Ltd,
business controlled by director M Chambers. This represented a commercial transaction in
relation to services provided by the business with regard to fulfilling various grant projects during
that year. At the balance sheet date Mourne Landscapes Ltd was owed £Nil {2022 - £1,000).
During the year the charity paid wages of £Nil 12022 £3,045) to trustee, K Hanna. This
represented a commercial transaction in relation to services provided by Ms Hanna with regard
to housekeeping duties.
Trustee Ms S Hanna occupied the RVDA property known as 'Johnny's', to 5 Oct 2023 in
connection with her role in the ongoing board review of the effective running of Hanna's Close.
Ms Hanna was not charged rent for use of this property.
Trustee Mrs N Fisher occupied a RVDA property for seven days in June 2023. During this stay
Mrs Fisher liaised with the Heritage Officer to contribute to a future historical project 'Life at
Hanna's Close through the years,. Mrs Fisher was not charged for use of the property in
recognition of her ongoing Gontribution and voluntary work for RVDA.
27. Golng Concern
The current economic conditions create some uncertainty particularly over the availability of bank
finance in the foreseeable future. The board, taking account of reasonable possible Changes in
the charity's operating performance, are satisfied that the Charity should be able to operale
within the level of it5 current bank facility and will have adequate resources to continue in
operational existence for the foreseeable future. For these reasons, they continue to adopt the
going concern basis in in preparing the annual report and accounts.
The going concern basis assumes that the Charity will continue in operational existence for the
foreseeable future having adequate funds to meet the obligations as they fall due. The validity
of this assumption depends on=
11 The continued support of the charity's bankers
21 The continued support of the charity's directors
3) The continued support of the charity's creditors
4) Realisation of future profits based on director, profit projections.
18