COMPANY REGISTRATION NUMBER: N1029953
CHARITY REGISTRATION NUMBER: 100527
River Valley Development Association Limited
Company Limited by Guarantee
Unaudited Financial Statements
31 December 2024
PURDY QUINN
Chartered Accountants
42 Greencastle Street
KILKEEL
Co Down
BT34 48H

River Valley Development Association Limited
Company Limited by Guarantèe
Financial Statements
Yaar ended 31 December 2024
Page
Trustees, annual report (incorporating the director's report)
14
Report to the board of trustees on the preparation of the
unaudited statutory financial statements
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 Llmited by Guarantee
Trustees, Annual Report (Incorporating the Director's Report)
Year ended 31 December 2024
The truste8s. who are also the directors for the purposes of company18w, present their report and the
unaudited financial ststements of the charty f¢r the year ended 31 December 2024.
Refe￿nce and administrativè details
Registered charfty name
River Valley Development Association Limited
Charty registration number
100527
Company reglstratlon number N1029953
Principal offic8 and registered Hanna's Clos8
offl¢e
87 Aughnahoory Road
KILKEEL
Co Down
BT34 4AH
The trustees
Mr l Hanna
Mrs N Fisher
Mr D W Hanna
Mr J G Hanna
Mr G Fisher
Ms S Hanna
Mrs G Fisher
Mrs G Hanna
Mrs K Hanna
Mr G J Mitchell
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) fcontinued)
Year ended 31 December 2024
Structureg 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 dste of incorporation was 18 September 1995.
The company was formally recognised by the Charity Commission for Northem Ireland on 11 March
2015. The company is governed by its Memorandum and Articlas of Association.
River Valley Development Association Limited (RVDA) is managed by a Board of Directors. As
requir8d on an ad hoc basis. the Board Members are responsible for considering the appointment of
potential new Board Members to Ihe Board. Suitable people are approached and if they are willing to
serve on the Board, their nomination is PLrt forward for approval by the Board. There is no maximum
term of office. Induction and training of directors is provided in house.
The accounts are prepared in accordance with the Companies Act 20CE and the Accounting and
Reporting by Charilies.. 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) {effedive 1 January 2015) (Charities SORP (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 benefrt of the inhabrtants of the town lands of
Aughnahoory. Ballinran, Carrigenagh, Leitrim and Aughnaloopy, Kilkeel, County Down and their
surrounding areas withoLrt distinction of age. sex or of political. religious or other opinions by
promoting general Community projects of a social nature with the object of improving th8 conditions of
lrfe for the said inhabitants and to stimulate and promote the economic potential of the area.
Achievements and performanco
This has been another very successful year for the Association, particularly in relation to the continued
popularty of our cottage bookings. Demand has remained strong throughout the year, and we a
delighted to report excellent occupancy levels, which in turn hss provided vital ineome to support our
wid8r activit18s and ongoing heritage commitments.
The Board of Directors met regularly during the year to ensure that our work remained on course, and
to provide oversight on both operational and strategic matters. I would like to thank my fellow directors
for their commitment and dedication in guiding the Association throughout the year.
In addition to our core work, we were pleased to hosl seasonal communty events. including our
traditional Easter gathering and a well-attended Halloween celebration. These events, alongside a
S8ries of craft workshops, brought together visitors, residents, and supporters, helping to strengthen
the sense of Community and promote engagement with the cottages and their heritage.
Our volunteers continue to be th8 backbone of the Association. Their tireless work has 8nsured thal
the appearance of the cottages and surrounding close has remain8d of the highest standard. From
routine maintenance to more detailed care, their Contribution cannot be overstated. In doing so, they
have also helped us preserv8 the historic characler and heritage of th8 cottag8s, which r8mains at the
heart of our mission.
Looking ahead, we remain committed to balancing the Careful preservation of the cottages with
ensuring they are enjoyed and appreciated by the community and visitors alike. With continued strong
support, both from bookings and our dedicated volunteers. we are confident that the River Valley
Development Association will build further on the successes of 2024.

River Valley Development Association Limited
Company Limited by Guarantee
Trustees, Annual Report (Incorporating the Directorfs Report) (continued)
Year ended 31 Decembor 2024
We wish to extend sincere thanks to all direclors, volunteers, supporters, and visitors for their role in
making 2024 such a positive and rewarding year.
Flnancial review
Income
The results of the charity are sel out on pages 6 and 7 of the accounts.
The income from charitable activity within the organisat50n totalled £44,74612023 £66,484) for the
year ended 31 December 2024.
The charity r8ceived 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 Halifax.
Restricted grant funding of £50,808 12023- £54.981) was recognised as income in the year to 31
De￿mber 2024. Grants received, but not spent at 31 December 2024 have been recorded as
restricted funds and will b& expensed in the flrtu￿, as the associated obligations are meet.
Grant offers, where the funds have not been received by RVDA at 31 December 2024 have been
recorded as income only to the extent thal r8Stricted expenditure has been recorded in line With the
Letter of Offer.
The total income recorded for the year ended 31 December 2024 was £99.17812023- £126,120).
ndlture
The total costs incurred by River valley Development Association decreased from £122,006 in 2023 to
£103,571 for the year ended 31 December 2024. This decrease of £18,435 (15.1 /0) was a direct
result of having lass rental activty and fewèr physical properties to maintain.
The unrestricted operational costs for the charity totalled £55.732 (2023 £81.867). while £48.739
(2023 - £40,139} of the lotal costs were in relation to projects funded by grant income during the year.
As rental activity was further reduced in 2024, the associated labour costs of housekeeping and
utilities etc. were also reduced. Cost savings have also been made with volunteers taking a more
active role in the management of RDVA.
Cottages unde￿ent continued repair and maintenance during 2024.
Deficit for the ear
Overall River Valley Development Association reported a deficit for the year of £4.393 (2023 sury)lus
£4,114).
River Valley Development Association continued to repay its bank loan and the loan from the Ulster
Communty Trusl 8nd8d during 2024.
In tha post year énd périod River Vallèy Development Association borrowed £65,000 from Community
Finance Ireland to refurbish several Close properties. This loan is scheduled to be repaid over ten
years.

River Valley Development Association Limited
Company Limitsd by Guarantoe
Trustees. Annual Report (Incorporatlng the Dlrector's Report) (continued)
Year ended 31 December 2024
Plans for future periods
Reserves Policy
RVDA operates its charitable activities with unrestricted reserves totslling £20.060 (2023 - £24,682).
These unrestricted reserves are primarily represented by the r￿ed ass8t of organisation. The
directors are aware that this position should be reviewed on an ongoing basis to ensure that the
charity does not face any future cash flowlfunding difficulties.
The natur8 ofthe 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 Con¢em
The directors believe that the charitws accounts should be prepared on a going concern basis on th8
grounds that current and future sources of funding or support will be adequate for the charity's needs.
The directors have Considered a period of ￿e1ve months from the date of approval of Ihe accounts
and believe that the disclosures relating to the charty'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 entitled to
the small companies exemption.
The trustees, annual report was approv8d on 24 September 2025 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
Financlal Statements of River Valley Development Association Llmlted
Year ended 31 December 2024
I report on the financial slaleménts for the year ended 31 December 2024, which comprise the statement of
financial activities {including incom6 and expenditure account), statement of financial position and the related
notes.
RESPECTIVE RESPONSIBIUTIES OF DIRECTORS AND EXAMINER
The charitys directors are responsible for the preparation of the a¢Gounts in ac¢ordan¢e with the requirements of
the Companies Act 2006. Having satisfied mys81f that the charity is not subjéct to audit und6r company law, and
is eligible for ind8p8nd8nt examination. it is my responsibility to:
examine the account5 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 sectton 85(giib) af the Charities A¢t,' and
state whether particular matters havè come to my attention.
BASIS OF INDEPENDENT EXAMINER'S REPORT
I have examined your charity accounts as required under section 65 of the Charities Act and my exarninalion was
rArried out in accordan￿ with the general Direclions given by the Charity Commission for Northern Ireland under
section 6519>lb) of the Charities Act. The exarnination 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 items or disclosures in the accounts, and seeking explanations from the directors conceming any such
matters.
My role is to slate whether any material matters have come to my attention giving me cause to believe..
That accounting records were not kept in accordance Mih section 386 of the Companies Act 2006.
That the accounts do not accord with those accountlng r6cords.
That the accounts do not comply with the accounting requirements of section 396 of the Companiés Act
2006 and with th8 methods and prin¢ipl8s of the Charities Ststement of Recommended Practice applicab18
to charities p￿panng their accoun18 in accordan￿ wilh Ihe Financial Reporting Standard applicable in the
UK and Republic of Ireland.
That there is further information needed for a proper understanding of the ao¢ounts to be reaohed.
INDEPENDENT EXAMINER'S STATEMENT
hav8 completed my examination and have no concerns in respect of th8 matters {1 } to 14} listed above and, in
connection with following the Directions of the Charity Commission for Northem Ireland, I have found no matters
that require drawing b your attention.
24 Sept&mb8r 2025
Una Cunningham FCA
Chartered Accountants Ireland
PURDY QUINN
Chartered A¢¢ountants
42 Green¢asll8 Street
KILKEEL
Co Down
BT34 4BH

River Valley Development Association Limited
Company Limited by Guarantse
Statament of Financial Activities
(includlng Income and oxpenditure account)
Year ended 31 December 2024
2024
Restricted
funds Total funds
2023
Unrestricted
funds
Total funds
Nots
Income and •ndowm•nts
Donations and legacies
Charitable activities
3,624
44,746
50,808
54,432
44,746
99,178
59,656
66,464
Total Income
48,370
50.808
126,120
Expenditure
Expenditure on charitable activities
Other expenditure
Total expenditure
55,732
47,839
103,571
121,906
100
55,732
47,839
103,571
122,006
Net lexpenditure)lincome
(7.362)
2.969
(4.393)
4.114
Transfers be￿een funds
2,740
(2,740)
Net movement in funds
(4.622)
(4,393)
4,114
Reconciliation of funds
Total funds brought fomard
Total funds carried fO￿ard
24,682
12,417
12.646
37,099
32.706
32,985
20,060
37,099
The statemént of fin8ncial activiiies includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
The notes on pages 8 to 18 forni part of the6e financial slatements.

River Valley Development Association Limited
Company Limited by Guarantee
Statement of Financial Position
31 December 2024
2024
2023
Fixed assets
Tangible fixed assets
14
350,510
365,451
Current assets
Debtors
Cash at bank and in hand
15
7,958
27,707
35,663
10,474
43,096
53,570
Credltors: amounts falllng due wlthln on• year
Net current assets
16
34.044
43,423
1,619
10,147
Total assets less current Ilabllltles
352,129
375,598
Creditors: amounts falling due after more than one year
Not assets
17
319,423
338,499
32.706
37,099
Funds of the charity
Restricted funds
Unrestricted funds
12,646
20,060
32,706
12,417
24,682
Total charity funds
21
37,099
For the year ending 31 December 2024 the charity was entitled to exempticn from audit under section
477 of the Companies Act 2006 relating to small companies.
Directors. responsibilities:
The members have not required the company lo obtain an audit of its financial statements for the
year in question in accordance with section 476"
The directors acknowledge their responsibilities for complying wilh the requirements of the Act
with respect to accounting records and the preparation of financial statements,
Thes8 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 24
September 2025, and are signed cn behalf of the board by..
Mr D W Hanna
Trustee
Mrs G Fish8r
Trustee
The notss on page5 8 to 18 form part of these financial statements.

River Valley Development Association Limited
Company Limited by Guarantee
Notes to the Financial Ststements
Year ended 31 December 2024
General information
The charity is a public benefil 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 compllance
These financial statements have been pr8pared in compliance with FRS 102, Th8 Financial
Reporting Standard applicable in the UK and the Republic of Ireland,, 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) (Charities
SORP (FRS 102)) and the Companies Act 2006.
Accounting policies
Basls of preparatlon
The financial statements have been preparad on the historical Qosl basis, as modffied by the
revaluation of certain financial assets and liabilities and investment properties measured at fair
value through incom8 or 8xp8nditure.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
A deficit of £4,393 was repcrted for the year ended 31 December 2024.
The Charity continues to be very conscious of minimising expenditure. Although costs decreased
during the 2024 accounting period, the propety letting income figures also decreased with only
five cottages generating rental receipts, The Board are hopeful that this income can be
maintained.
The board havè plannèd lo refutbish of several Close properties in the coming year. This will be
funded thought a loan from Community Fund Ireland.
The directors are confidenl that there will be sufficient cash flow tc make the day-to4ay
payments and the monthly loan repayments in the foreseeable futur8.
Judgements and key sources of estimation uncertalnty
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 r8vi8wed and are based on experience and other factors, including expectations
of future events that are believed to be reasonable und8r the circumstsncas.

River Valley Development Association Limited
Company Limited by Guarantee
Notes to the Financial Statements (¢onllnued)
Year ended 31 December 2024
Accounting pollcl•s (continued)
Fund accountlng
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 app8al, and fall into one of two sub-classes.. restricted income funds or
endowment funds.
Incoming resourcas
All income is included in the statement of financial activitie5 when entitlement has passed to the
charity. it is probable that the economic benefits associated with the transaction will flow to Ihe
charity and the amount can be reliably measured. The following specific policies ara applied to
particular categories cf 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 Ihe extent the goods
have b88n provided or on Completion of the seNlCe.
Income from donations or grants is recognised when there is evidence of enlitlement to the
gift, receipt is probable and ils amount can be measured reliably.
Income from contracts for the suppty of s8Nices is recognised wilh the delivery of the
contracted service. This is classified as unrestricted funds unless there is a contractual
requirement for it to be spent on 8 particular purpose and returned rf unspent, in which case
it may be regarded as restricted.
Resources expended
Expendilure is recognised on an accruals basis as a liabilty 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, ev8nts,
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 Ihe benefit of its beneficiaries, including those
support costs and Costs relating tc the governance of the charity apportioned to charFtable
activities.
other expenditure includes all expenditure that is neither related to raising funds for th6
charity nor part of its expenditure on charitable activities.
All costs are allocated to expenditure categoriés reflecting the use of the resource. Direct Costs
attributable to 8 single activity are allocated directly lo that activity- Shared costs are apportioned
behween the activities they contribute to on a reasonable. justifiable and consistent basis.

River Valley Development Association Limited
Company Limited by Guarantee
Notes to the Flnanclal Statements f¢ontinuedJ
Year ended 31 December 2024
Accounting poli¢ies {continued)
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 lrfe of that assel as follows..
Leasehold property
Palhways Project
Fixtures and fittings
20A straight line
50kn straight line
150h 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
acccunts in accordance with the Financial Reporting Standard applicable in the UK and Republic
of Ireland (FRS 102) (effective 1 January 2015} (Charities SORP (FRS 102)), recommends that
the income from donations or grants is recognised when there is evidence of entitl8ment to the
gift, receipt is probable and its amount can be measured reli8bly. This has not been applied by
the charity as it would falsely inflate the reserves of the charity and distort ts future trading
perft)rnan￿. The charity merely holds a lease on restored properties that will revert back to their
owners in due ccurse.
Deferred capital grants in respect of capital 8xpenditure are tr8ated as deferred income and are
credited to the profit and loss account over the estimated useful lrfe of the assels to which they
relate.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which
the related seniice is provided. Prepaid conttibutions are recDgnised as an asset to thé èxtent
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 seNice, the liability is measured on a
discounted present value basis. The unwinding of the discount is recogni5ed as an expense in
the period in which it arises.
10

River Valley Development Association Limited
Company Limited by Guarantee
Notes to the Financial Statements (continu
Year ended 31 December 2024
Limited 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
Reslricted Total Funds
Funds
2024
Donatlons
Donations
Community events
1,059
2,565
1,059
2,565
Grants
Awards for All {Lott8ry)
Halifax
National Lottery Heritsge Revival
Ulster Scots Agency
NMDDC
National Lottery Heritage Fund
National Lotlery - Main Grant
National Lottery Community Fund
Government grant income
2,050
7.961
2,050
7,961
7,917
32,880
7,917
32,880
3,624
50,808
54,432
Unrestricted
Funds
Restricted Total Funds
Funds
2023
Donatlons
Donations
Communily events
433
3,042
433
3,042
Grants
Awards for All {Lotteryl
Halifax
National Lottery Heritage Revival
Ulster Scots Agency
NMDDC
National Lottery Herilage Fund
National Lottery - Main Grant
National Lottery Community Fund
Government grant income
1,975
1,975
1,430
3,721
31,791
9,700
8,364
1,430
3,721
31.791
9,700
1,200
1.200
4.675
54,981
59.656
11

River Valley Development Association Limited
Company Limited by Guarantee
Notes to the Financlal Statsments {¢onfinuedJ
Year ended 31 December 2024
Charitable activities
Unrestricted Total Funds Unrestricted Total Funds
Funds
2024
Funds
2023
Accommodation
Community Support
44,746
44,746
64,664
1,800
64,664
1,800
44,746
44.746
66,464
66.464
Expenditure on charitable activities by fund type
Unrestricled
Funds
Restricted Total Funds
Funds
2024
Preservation of historical buildings & community
Support costs
45,537
10,195
47,839
93,376
10,195
55.732
47,839
103.571
Unrestricted
Funds
Restricted Total Funds
Funds
2023
Preservation of historical buildings & communty
Support costs
70,562
11,205
40,139
110,701
11,205
81,767
40,139
121,906
Expendlture on charltable actfvitles by actlvlty type
Activities
undertaken
directly Support costs
Total funds
2024
Total fund
2023
Preservation of historical buildings &
community
Governance costs
93,376
6,045
4,150
99.421
4.150
116.173
5,733
93.376
10,195
103,571
121,906
12

River Valley Development Association Limited
Company Llmlted by Guarantee
Notes to the Financial Statements fcontlnuedj
Year ended 31 December 2024
Analysis of support costs
Analysis of
Support costs Total 2024 Total 2023
Finance costs
Governance costs
Depreciation
Amortisation
2.150
4,150
20,466
116.571)
10,195
2.150
4,150
20,466
(16.571)
10.195
1,958
5,733
20,119
{16.605)
11,205
10. Olher expenditure
Unrestricted Total Funds Unrestricted Total Funds
Funds
2024
Funds
2023
Donation
100
100
11. Net (expenditurevincome
Net (exp6nditure)Iincome is stated after chargingllcredtting)..
2024
2023
Depreciation oftangible fixed assets
20.466
20,119
12. Staff costs
The tolal staff costs and employee benefits for the reporting period are analysed as follows..
2024
2023
Wages and salaries
Empk)yer contributions to pension plans
40.209
563
47.059
563
40,772
47.622
Th8 average h8ad count of employees during the year was 5 {2023.' 8).
No employee received employee benefits of more Ihan £60,000 during the year (2023". Nil).
13. Truste• r•munoration and exponsès
No director received any remuneration, and no directors claimed any expenses during the year in
connection with their duties. See related party note 25.
13

River Valley Development Association Limited
Company Limited by Guarantee
Notes to the Financial Statements (¢ontlnued)
Year ended 31 Decernber 2024
14. Tangible fixed assets
Leasehold
pioperty
Pathways Fixtures and
Project
fittings
Total
Cost
At 1 January 2024
Additions
700.468
59,93D
62,259
5,525
822,657
5,525
At 31 December 2024
700.468
59,930
67,784
828,182
Depreclatlon
At 1 January 2024
Charge for the year
At 31 December 2024
354.202
13,809
56,242
2,997
48.762
3,660
457.206
20,466
368,011
59,239
50,422
477,672
Carrying amount
At 31 December 2024
332,457
691
17,362
15,497
350.510
At 31 December 2023
346,266
3,688
365,451
15. Debtors
2024
2023
Trade debtors
Prepayments and accrued income
1,554
6,402
7,956
5.891
4.583
10.474
16. Crèditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
Trade creditors
Accruals and deferred income
Social securty and other laxes
UCIT Loan < 1 year
Other creditors
2.506
10.321
6.086
13.642
2,445
11.154
13,688
9,705
5.422
1,009
1,489
43,423
14

River Valley Development Association Limited
Cornpany Limited by Guarantee
Notes to the Financial Ststements f¢onllnugd)
Year ended 31 December 2024
17. Creditors: amounts falling due aftor more than one year
2024
2023
Accruals and deferred income
Loan > 1 year
318,755
868
335,326
3.173
319,423
338.499
18. Deferred income
2024
2023
At 1 January 2024
Amount released to income
335.326
(16,571)
318,755
351,931
{16,605)
335.326
At 31 December 2024
19. Pensions
Defined contrlbutlon plans
The amount recognised in income or expendituré as an expense in relation to defined
contribution plans was £563 (2023: £5631.
20. Government grants
The amounts recognised in the financial statements for government grants are as follcws:
2024
2023
Recognised in creditors".
Deferred government grants due after more than one year
318,755
335,326
All capital grants are credited to the balance sheet to be amortised over Ihe length of the
i)wnership of the assets. Amortisation at 20/0. SO￿ and 150/0 on property. plant and machinery and
fixtures and frttings respectively have been provided through the financial statements in line with
the accounting policy on depreciation. All revenue grants have been credited to the prorrt and
loss account when received.
15

River Valley Development Association Limited
Company Limited by Guarantee
Notes to the Financial Statsments f¢onllnu•dJ
Year ended 31 December 2024
21. Analysls of charltable funds
Unrestricted funds
At1
January
2024
At31
December
2024
Income Expenditure
Transfers
General funds
Original Contributions
5,636
19,046
48,370
(55,732}
2.740
1.014
19,046
24,682
48,370
{55,732)
2.740
20.060
At1
January
2023
At31
December
2023
Income Expenditure
Transfers
General funds
Original Contributions
5,914
19,046
71,139
(81,86n
10,450
5,636
19.046
24,960
71,139
{81,867)
10.450
24,682
Restricted funds
At1
January
2024
At31
December
2024
Income Exp8nditur8 Transfers
Awards for All (Hay Shed)
Halifax
NMDDC
Ulster Scots
National Lottery Heritage Revival
National Lott8ry Heritage Fund
National Lottery Community Fund
National Lottery - Main Grant
2.050
7,917
12,050)
(690)
{7,227)
7,961
32.880
(5,576)
(28,672)
(6,364)
2,385
10,261
6,053
6,364
12,417
50,808
147.839)
(2,740)
12,646
At1
January
2023
At31
December
2023
Income Expenditure
Transfers
Awards forAII (Hay Shed}
Halrfax
NMDDC
Ulster Scots
National Lottery Heritage Revival
National Lottery Heritage Fund
National Lottery Community Fund
National Lottery - Main Grant
8.025
1,975
110,000)
3,721
1,430
(3,271)
<1.430)
(450)
31,791
6,364
9,700
(25,738)
6,053
6,364
(9,700)
(40,139) (10.450)
8,025
54,981
12.417
16

River Valley Development Association Limited
Company Limited by Guarantee
Notes to the Financial Staternents (contlnued)
Year ended 31 December 2024
22. Analysls of net assets between funds
Unrestricted
Funds
Restricted Total Funds
Funds
2024
Tangible fixed assets
Current assets
Creditors less than 1 year
Creditors greater than 1 year
Net assets
31,755
350,510
23,017
35,663
134,044)
{34,044)
(668> {318,755) (319,423)
20,060
12,646
32,706
318.755
12,646
Unrestricted
Funds
Restricted Total Funds
Funds
2023
Tangible fixed assets
Current assets
Creditors less than 1 year
Creditcrs g￿ater than 1 year
Net assets
30,125
335.328
365,451
31,453
22,117
53,570
{33.723)
(9,700)
{43.423)
(3,173) (335,326) (338,499}
24,682
12,417
37,099
23. Capltal commltments
The direclors have confirmed that ther8 were no capital commitments at 31 December 2024.
24. Contlngencles
The directors have confirmed that there were no contingent liabilities which should be disclosed
at 31 December 2024.
25. Related parties
The directors are the ultimate controlling party of the charity.
The charity has continued to lease 8 cottages during the year.
These 8 properties are leased from two directors of the charity.
The dir8Ctors of the charity have supplied the propertl8s as follows:
Dlrector
Mrs N Fisher
& Mr G Fisher
Cottage
Stable
Barn
W John's
Carthouse
George's
Johnny's
Tommy's
The Office
17

River Valley Development Association Limited
Company Llmitod by Guarantee
Notes to the Financial Statements (¢ontlnuedJ
Year ended 31 December 2024
25. Related parties
These eight properties were leased at Hanna's Close for period cf 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 £15,352 {2023 - £12,458) from £ business conlrolled by
a clos8 family member of director G Fisher. This figure included worf( that was physically carried
during the 2023 year was invoiced at £9,700 in the 2024. These costs represented commercial
transactions in relation to services provided by the business with regard to ground maintenance
contracts, repairs and grant projects. At the balan￿ sheet date, Ihe business related to G Fisher
was owed the accrued £Nil (2023 - £9,7QO ).
26. Going Concern
The current economic condilions creat8 some uncertainty particularly over the availabilty of bank
finance in the foreseeable future. The board, taking account of r8asonablè possible changes in
the charity's operating performance, are satisfied Ihat the Charty should be able to operate
within the level of its current bank facility and will have adequate resources to continue in
operational existence for the foreseeable future. For these reasons, they continue Io 8dopt 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 validty
of this assumption depends on..
1) The continued support of the charity's bankers
2) The continued support of the charity's directors
3) The continued support of the charity's creditors
4) Realisation of future profrts based on directorf profit projections.
27. Post balance sheet period
In the posl balanc8 sheet period River Valley Development Association bO￿OWed £65,000 from
Community Finance Ireland to refurbish several Close properties. This loan is scheduled to be
repaid over ten years.
18