COMPANY REGISTRATION NUMBER: N1029207 CHARITY REGISTRATION NUMBER: XR741101100S79 Toomebridge Industrial Development Amenities and Leisure Limited Company Limited by Guarantee Unaudited Financial Statements 29 February 2024 S O'NEILL & COMPANY Chartered accountants 14 Main Street Toomebridge Co. Antrim Northern Ireland BT413TQ
Toomebridge Industrial Development Amenities and Leisure Limited Company Limited by Guarantee Financial Statements Year ended 29 February 2024 Page Trustees, annual report (incorporating the directorfs report) Independent examiner's report to the trustees Statement of financial activiti'es (including income and expenditure account) Statement of financial posits'on Statement of cash flows 10 Notes to the financial statements 11 The following pages do not forni part of the financial statements Detailed statement of financial activits.es 24 Notes to the detsiled statement of financial activities 27
Toomebridge Industrial Development Amenities and Leisure Limited Company Limited by Guarantee Trustees, Annual Report (Incorporating the Directorfs Report> Year ended 29 February 2024 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 29 February 2024. Reference and administrative details Registered charity name Toomebridge Industrial Development Amenities and Leisure Limited Charity registration number XR741101100579 Company registration number N1029207 Principal office and registered Toome House office 55 Main Street Toomebridge Co Antrim BT413TF The trustees Mr Henry Marron (Treasurer) Mr John Lavety (Chaimian) Mr James Thomton (Assistant Treasurer) Mr James Woolsey Mr Peter McLemon Mr Kyle Johnston Company secretary Mrs Una Johnston Independent examiner S O'Neill & Company 14 Main Street Toomebridge Co. Antrim Northem Ireland BT413TQ
Toomebridge Industrial Development Amenities and Leisure Limited Company Limited by Guarantee Trustees. Annual Report (Incorporating the Directorfs Report) (continued) Year ended 29 February 2024 Structure, governanc8 and management A Company Limited by Guarantee. The Executive Committee present their report and the financial statements for the year ended 29 February 2024. Toomebridge Industrial Development Amenities and Leisure Limited (TIDAL) is a company limited by guarantee, govemed by the Memorandum and Articles of Association. The day to day decision making is undertaken by the Development Officer under the guidance of the Chairman. Decisions of strategy and policy making are taken by the full Board of Trustees with financial matters being addressed by the Company Treasurer and Assistant Treasurer as outlined in the Corporate Governance Procedures and Controls Report. It is the responsibility of the Company's Board of Trustees along with the Development Officer to ensure Funders regulations are met and adhered to. Objectives and activities TIDAL is established to promote urban and rural regeneration in the Toomebridge area and its environs. To relieve poverty in such ways as may be thought fit. To relieve unemployment and also assist in finding employment. The advancement of education and training, particularfy among unemployed people and providing unemployed people with work expenen_ The creation of training and employment opportunrties by the provision of workspace, buildings andlor land for use on favourable temis. To maintain, improve and provide public amenities. The provision of public health facilities. The protection and preservation of health. To provide recreational facilities for the public at large or those vtho by reason of their youth, age, infimity or disablement, poverty or social and economic circumstances have need for such facilities.
Toomebridge Industrial Development Amenities and Leisure Limited Company Limited by Guarantee Trustees. Annual Report (Incorporating the Directorfs Report) (continued) Year ended 29 February 2024 Achievements and perfomiance It was almost as difficult to work post covid as it was dunng covid, as the effects and fears still affected peoples willingness to socialise and get involved in classes and courses. With the support of ANBC and NHLP we continued to provide food deliveries and meals within our community building. The need for The Pre-Loved Uniform Scheme was even more evident, wth redundant uniforms being passed on to younger children rather than go to landfill. Demand was high and we plan to offer this scheme for as long as necessary. Local volunteers continued to maintain the SID which Tidal ¢harged and related the relevant information back to the Traffic Poll_ Our Community Garden continued to blossom with local hospitalities be-decking their premise5 Wlth floral baskets and window boxes. We were also privileged to provide flowers for Hazelbank School Sensory Garden and worked very closely with Kilronan Special Care Sthool whereby the school hildren participated in projects wthin our garden. Monitoring and support remained strong with ANBC, providing us financial support for the Insurance of our Premises and the running of our 2 large annual events, Toome Fair & Christmas. Both these events have continued to grow in popularity in attendance, increasing in size every year. Due to the positive and progressive projects of the group, anti-social behaviour has remained at an all time low. This has quite obviously led to an increase in investment in the area by contractors through the building of many new homes. One of the many important issues that Tidal feels they need to address in the near future is improvement in staff management and sustainability of suitable staff to take our Social Enterprise to its full potential. Our most recognisable achievement for a number of years was to work dosely wth the HSCNI to match fund a considerable extension to our Doctors Surgery. This was a big coup for the area, probably confimiing Tidal as one of the premier Healthy Living Centres within the alliance. Financial review Against the backdrop of limited resources and insecurities over funding, it has continued to be difficult to plan or develop services. Nevertheless the charity, with the aid of sound financial management and the support of both its staff and volunteers generated a positive financial outcome for the period with a decrease in net income of £16.714 (2023.. £61.620). leaving the total funds at £1,087,805 {2023. £1,104,588). Its success in obtaining new funding for 2024125 from Antrim & Newtownabbey Borough Council V1 provide much needed additional resources. PRINCIPAL FUNDING SOURCES Aside from the income generated by the rental of business units and room hire, the principle funding sources for the Charity are currently by way of grants from Antrim & Nevrtownabbey Borough Council. As a result of increasing constraints on local authority expenditure, the charity has to seek funding from a much broader group of agencies. RESERVES There is a prudent amount retsined in reserves each year.
Toomebridge Industrial Development Amenities and Leisure Limited Company Limited by Guarantee Trustees. Annual Report (Incorporating the Director's Report) (¢ontinued) Year ended 29 February 2024 Plans for future persods To source fvnding to extend The Lock Keepers Cottage. both the seating area and the kitchen. To continue to source funding for our flagship project, a Marina along the nver Bann. Small company provisions This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exempts'on. The trustees, annual report was approved on 16 June 2025 and signed on behalf of the board of trustees by. Mr Henry Trustee arron (Treasurer) Mrs Una Johnston Charity Secretary
Toomebridge Industrial Development Amenities and Leisure Limited Company Limited by Guarantee Independent Examinerfs Report to the Trustees of Toomebridge Industrial Development Amenities and Leisure Limited Year ended 29 February 2024 I report to the trustees on my examination of the financial statements of Toomebrid9e Industrial Development Amenities and Leisure Limited ('the chanty,) for the year ended 29 February 2024. Responsibilities and basis of report As the trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of Charities Act (Northern Ireland) 2008 {the .2008 Act'l and the Companies Act 2006 {'the 2006 Act'l. You are satisfied that the accounts of the company are not required by charity or company law to be audited and have chosen instead to have an independent examination. Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination. I report in respect of my examination of the charity's financial statements as carried out under section 65 of the 2008 Act. In carying out my examination I have followed the general Directions given by the Charity Commission for Northern Ireland under section 6519)(b) of the 2008 Act. Independent examiner's statement Since the charity's gross income exceeded £250.000 your examiner must be a member of a body listed in section 65 of the 2008 Act. I confirm that l am qualified to undertake the examination because l am a member of Chartered Accountants Ireland, which is one of the listed bodies_ I have completed my examination. I confirm that no matters have come to my attention in connection with my examination giving me cause to believe that in any material respect.. accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act., or the financial statements do not accord with those records". or the financial statements do not comply wrth the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'true and fair, view which is not a matter considered as part of an independent examination- or the financial statements have not been prepared in accordance wth the methods and prbnciples of the Statement of Recommended Practice for accounting and reporting by chanties applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102).
Toomebridge Industrial Development Amenities and Leisure Limited Company Limited by Guarantee Independent Examinerfs Report to the Trustees of Toomebridge Industrial Development Amenities and Leisure Limited (corttinued) Year ended 29 February 2024 l Gonfirm that there are no other matters to which your attention should be drawn to enable a proper understanding of the accounts to be reached_ S O'Neill & Company Independent Examiner 14 Main Street Toomebridge Co. Antrim Northern Ireland 8T41 3TQ 16 June 2025
Toomebridge Industrial Development Amenities and Leisure Limited Company Limited by Guarantee Statement of Financial Activities (including income and expenditure account) Year ended 29 February 2024 2024 Restricted funds Total funds 2023 Unrestncted funds Total funds Note Income and endowments Donations and legacies Charitable activities Other income 2,703 115,295 75.657 68,428 71,131 115,295 75,657 99,676 99,085 74,385 Total income 193,655 68.428 262.083 273,146 Expenditure Expenditure on faising funds. Costs of other trading activits'es Expenditure on charitable activities Total expenditure 99,933 117.603 99,933 178,864 83,555 251,211 9.10 61,261 217,536 61.261 278,797 334.766 Net expenditure (23.881) 7,167 116.714) (61,620) Transfers behveen funds 4.204 (4,204) Other recognised gains and losses Losses from revaluation of fixed assets (69) (19,746) 1691 (16,783) (681 (61,688) Net movement in funds 2,963 Reconciliation of funds Total funds brought forward Totsl funds carried forward 665.702 438.886 1,104,588 1,166,276 645,956 441,849 1,087,805 1,104,588 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 11 to 22 form part of these financial ststements.
Toomebridge Industrial Development Amenities and Leisure Limited Company Limited by Guarantee Statement of Financial Position 29 February 2024 2024 2023 Note Fixed assets Tangible fixed assets Hentage assets 18 19 1,004,324 126,143 957,100 126,143 1,130,467 1,083,243 Current assets Debtors Cash at bank and in hand 20 21.953 42,264 32,347 18.984 64,217 51,331 Creditors: amounts falling due within one year Net current liabilities 21 106,879 29,986 (42.662) 1.087,805 21,345 Total assets less current liabilities 1,104,588 Net assets 1.087,805 1.104,588 Funds of the charity Restricted funds Unrestricted funds. Revaluation reserve Other unrestricted income funds 441.849 438,886 2.121 643.835 2,190 663,512 Total unrestricted funds 645,956 665,702 Total charity funds 23 1,087.805 1,104,588 For the year ending 29 February 2024 the charity was entstled to exemption from audit under se¢tion 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 v4ith section 476.. The direclors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements. These financial statements have been prepared in accordance wth the provisions applicable to companies subject to the small companies, regime. The statement of financial position continues on the following page. The notes on pages 11 to 22 forni part of these financial statements.
Toomebridge Industrial Development Amenities and Leisure Limited Company Limited by Guarantee Statement of Financial Position (continue 29 February 2024 These financial statements were approved by the board of trustees and authonsed for issue on 16 June 2025, and are signed on behalf of the board by. Um<ok-Yxsbo Mrs Una Johnston Chanty Secretary The notes on pages 11 to 22 fomi part of these financial statements.
Toomebridge Industrial Development Amenities and Leisure Limited Company Limited by Guarantee ststement of Cash Flows Year ended 29 February 2024 2024 2023 Cash flows from operating activities Net expenditure (16,714) (61,620) Adjuslments for." Depreciation of tangible fixed assets Government grant income Accrued expenses 27,687 119.653) 1,934 30,975 {39,9171 6,261 Changes in.. Trade and other debtors Trade and other creditors 10,394 (1,428) 2,220 (1,154) 6,742 Cash generated from operations Net cash froml(used in) operating activities {58,713) (58,713) 2.220 Cash flows from investing activities Purchase of tangible assets Net cash used in investing activib'es (74,980) (74,980) (23,217) (23,217) Cash flows from financing activities Proceeds from borrowings Government grant income Net cash from financing activities 76,388 19.653 39,917 96.041 39,917 Net increasel(decrease) in ¢ash and cash equivalents Cash and cash equivalents at beginning of year Cash and cash equivalents at end of year 23,281 18.984 (42,013) 60,997 42,265 18,984 The notes on paggs 11 to 22 forni part of these financial statgmgnts. 10-
Toomebridge Industrial Development Amenities and Leisure Limited Company Limited by Guarantee Notes to the Financial Statements Year ended 29 February 2024 General information The chanty is a public benefit entity and a private company limited by guarantee, registered in Northern Ireland and a registered charity in Northem Ireland. The address of the registered office is Toome House, 55 Main Street. Toomebridge. Co Antrim. BT413TF. Statement of compliance These financial statements have been prepared in compliance wth FRS 102, The 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) (Charitie5 SORP {FRS 102)) and the Companies Act 2006. Accounting policies Basis of preparation The financial ststements have been prepared on the histoncal 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 statement5 are prepared in sterling, vthich is the functional cUencY of the entity. Going concern There are no material uncertainties about the charity's ability to continue. 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 cirCumstans. Fund accounting Unrestncted funds are available for use at the discretion of the trustees to further any of the charity's purposes. Designated funds are unrestncted funds eamiarked by the trustees for particular future project or commitment. Restricted ftjnds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of Iwo sub-classes.. restricted income funds or endowment funds. 11
Toomebridge Industrial Development Amenities and Leisure Limited Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 29 February 2024 Accounting policies (continued) Incoming resourGes All incoming resources are 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 donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measurèd reliably. legacy income is recognised when receipt is probable and entitlement is established. income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is denved from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers. income from contracts for the supply of services is recognised wrth the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for tt to be spent on a particular purpose and retumed 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. Expendilure 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 chantable aims for the benefit of its beneficiaries. including those support costs and costs relating io the governan of the charity apportioned to Charitable activities. other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities. All costs are allocated to expenditure categories refiecb'ng the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity Shared costs are apportioned between the acb-vities they contnbute to on a reasonable. justifiable and consistent basis. Tangible assets All fixed assets are initially recorded at cost. Capitalisation of property extensions Only the Charity's direct expenditure is recognised as an addition to fixed assets. 12
Toomebridge Industrial Development Amenities and Leisure Limited Company Limited by Guarantee Notes to the Financial Statements (¢gntinued) Year ended 29 February 2024 Accounting policies (continued) Contributions from tenants and third parties are not reflected in the Charity's asset value. 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". Freehold buildings Fixtures and fittings Equipment Improvements to leasehold property Straight line over 35 years less residual value 200/0 Straight Line 20 % Straight Line Straight line over 35 years less residual value Heritsge assets The charity holds heritsge assets, which are tangible fixed assets of historical, artistic or scientific importance that are held to advance preservation and conservation objectives of the charity. Newly purchased heritage assets are capitalised and included at cost including any incidental expenses of acquisition. Vvhere heritage assets were acquired in past accounting periods and not capitalised, it can be difficult or costly to attribute a cost or value to them. In such cases. these assets are excluded from the balance sheet if reliable cost information is not available and conventional valuation approaches lack sufficient reliability or significant costs are involved in the reconstruction or analysis of past accounting records or in valuation, which are onerous compared with the additional benefit derived by users of the accounts in assessing the trustees, stewardship of the assets. The very long expected lives of heritage assets. due to their nature, value and need to be protected and preserved means that depreciats'on is not material and is, therefore. not provided. Government grants Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the charity will comply with the conditions attaching to them and the grants will be r1ved. Where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future perfomance-related conditions on the recipient, it is recognised in income only en the perfonnance-related conditions have been mel. Where grants received are prior to satisfying the revenue recognition Criteria. they are recognised as a Limited by guarantse Toomebridge Industrial Development Amenities and Leisure Limited is a company limited by guarantee and accordingly does not have a share capital. Every member of the company undertakes to contribute such amount as may be required not exceeding £1 to the assets of the charttable company in the event of it being wound up while he or she is a member, or within one year after he or she ceases to be a member. 13-
Toomebridge Industrial Development Amenities and Leisure Limited Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 29 February 2024 Donations and legacies Unrestricted Funds Restncted Total Funds Funds 2024 Grants Enkalon CCF- Community Foundation Housing Executive Albert Hunt- Youth Programme HMRC SSP & Job Retention Scheme KNIB - Pollinator ARN Community Foundation wateayS Ireland Saint Vincent De Paul Pain Programme CDHN - Tiny Steps Social Prescnbing Project Big Lottery Grants Government grant income 2,000 2,000 6,600 12,000 9,974 20,904 16,950 6,600 12,000 9,974 20,904 19.653 2.703 2,703 68,428 71,131 Unrestricted Funds Restricted Total Funds Funds 2023 Grants Enkalon CCF- Community Foundation Housing Executive Albert Hunt- Youth Programme HMRC SSP & Job Retention Scheme KNIB - Pollinator ARN Community Foundation Vvatetways Ireland Saint Vincent De Paul Pain Programme CDHN- Tiny Steps Social Prescribing Project Big Lottery Grants Government grant income 750 5.000 2.000 750 5,000 2.000 173 8,181 5,000 9,321 1,100 600 7,256 20,378 173 8.181 5,000 9,321 1.100 600 7.256 20,378 12,500 27,417 39,917 12.673 87.003 99,676 -14-
Toomebridge Industrial Development Amenities and Leisure Limited Company Limited by Guarantee Notes to the Financial Statements {c¢>ntinuèd) Year ended 29 February 2024 Charitable activities Unrestricted T¢)tsl Funds Unrestricted Totsl Funds Funds 2024 Funds 2023 Lock Keepers Cottage In¢ome Duneane Garden income Oil Club Membership 102,762 12,528 102,762 12,528 93,635 93,635 5,450 5,450 115.295 115.295 99,085 99,085 Other income Unrestricted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Rental income Room hire Toome Fair 71,803 2,187 1.667 71.803 2,187 1.667 71.530 1,585 1.270 71,530 1,585 1,270 75.657 75,657 74,385 74,385 Costs of other trading activities Unrestricted Funds Restricted Total Funds Funds 2024 Costs of other trading activities - Lock Keepers Cottage 99,933 99,933 Unrestricted Funds Restricted Total Funds Funds 2023 Costs of other trading activities - Lock Keepers Cottage 73.624 9,931 83,555 15-
Toomebridge Industrial Development Amenities and Leisure Limited Company Limited by Guarantee Notes to the Financial Ststements (continued) Year ended 29 February 2024 Expenditure on charitable activities by fund type Unrestncted Funds Restricted Total Funds Funds 2024 Antrim & Newtownabbey Borough Council Projects Big Lottery Tiny Steps Duneane Allotment Garden Social Prescribing Project Pain Programme ARN- Community Foundation Support costs 556 14,251 18,259 266 14,807 18,259 266 13,895 6,500 2,940 4,312 117,885 13,895 6,500 1,300 3.953 16,732 1,640 359 101,153 117.603 61,261 178,864 Unrestricted Funds Restricted Total Funds Funds 2023 Saint Vincent De Paul Waterways Ireland Antrim & Newtownabbey Borough Council Projects KNIB - Pollinator project Tiny Steps Duneane Allotment Garden Nl Housing Executive projects American Ireland Fund Social Prescribing Project Pain Programme Education Authority- Summer Scheme ARN - Community Foundation Community Foundation Support costs 1,650 6,771 33,822 6,267 11,740 1,650 6,771 34,365 6.267 11,740 14,959 1,095 2,613 20.492 2.675 151 885 749 146.799 543 14.959 1,095 2,613 20.042 2.675 450 151 70 815 749 24,918 121,881 138,054 113.157 251,211 16-
Toomebridge Industrial Development Amenities and Leisure Limited Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 29 February 2024 10. Expenditure on Charitable activities by activity type Grant funding of activities Support costs Total funds 2024 Total fund 2023 Administrats'on expenses Saint Vincent De Paul Waterways Ireland Antrim & Newtownabbey Borough Council KNIB - Pollinator project Big Lottery Tiny Steps Duneane Garden Allotment Nl Housing Executive projects American Ireland Fund Social Prescribing project Pain Programme Education Authority- Summer Scheme ARN - Community Foundation Community Foundation 117.885 117,885 146,799 1,650 6,771 14.805 14.805 34,365 6,267 18.259 266 13.895 18,259 266 13.895 11,740 14,959 1,095 2,613 20,492 2,675 6,500 2,940 6,500 2,940 151 885 749 4.314 4,314 60,979 117.885 178.864 251,211 11. Analysis of support costs Total 2024 Totsl 2023 Staff costs Premises Communications and IT General office Finance costs Governance costs Depreciation Travel and entertainment Subscriptions Bad debts wloff TIG Loan Written i)ff 51,963 12,438 4.867 2,622 60 12.288 27,689 4,099 1080 779 63,494 19,866 3,494 6,882 121) 11,182 30,975 2,649 243 300 7,735 117,885 146,799 12. Analysis of grants 2024 2023 Grants Expenditure Grants expenditure Total grants 44.529 110,349 44,529 110,349 17-
Toomebridge Industrial Development Amenities and Leisure Limited Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 29 February 2024 13. Net expenditure Net expenditure is stated after chargingl(crediting)-. 2024024 2021023 Depreciation of tangible fixed assets Operating lease rentals 27,687 100 30,975 100 14. Independent examination fees 2024 2023 Fees payable to the independent examiner for-. Independent examination of the financial statements Other financial services 3.980 6,629 3,980 5,059 10,609 9,039 15. Staff costs The total stsff costs and employee benefits for the reporting period are analysed as follows". 2024 2023 Wages and salaries Social secunty costs 128,955 2,743 119,789 1,797 131.698 121,586 The average head count of employees during the year was 13 {2023: 11). The average number of full-time equivalent employees during the year is analysed as follows= 2024 No. 2023 No. Office staff Cleaner Lock Keepers Cottage staff 13 No employee received employee benefits of more than £60,000 during the year (2023. Nil). 16. Trustee remuneration and expenses No remuneration or other benefits from employment with the charity or a related entity were received by the trustees 18
Toomebridge Industrial Development Amenities and Leisure Limited Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 29 February 2024 17. Transfers between funds The followng grants were received for restricted projects. and have been uts'lised against specifi costs of the projects undertaken by the charity. However, there are a number of these grants that were to offset the running costs of the charity. As a result, these funds have been transferred from Restricted funds to Unrestricted funds to offsel these project expenses, with the remainder to be utilised by the chanty as they see fit. 2024 Antrim & Newtownabbey Borough Council - SummerlHalloween Scheme Enkalon Foundation Antrim & Newtownabbey Borough Council - School Unifomis Antrim & Newtownabbey Borough Council- Senior Christmas Celebration Antrim & Newtownabbey Borough Council- Christmas Swtch On ARN - Community Foundation Social Prescribing Total (21 74 191) 1441) 185 4,477 4,204 18. Tangible fixed assets Improvement to leasehold property Land and Fixtures and buildings fittings Equipment Total Cost At 1 March 2023 Additions 796,024 74.980 29.206 177.241 177,080 1,179.551 74,980 At 29 February 2024 Depreciation At 1 March 2023 Charge for the year Revaluations 871.004 29.206 177,241 177,080 1,254,531 23,940 7,911 69 23,300 2,318 138,782 10,608 36.429 6.850 222,451 27,687 69 At 29 February 2024 Carrying amount At 29 February 2024 At 28 February 2023 31.920 25.618 149,390 43,279 250,207 839,084 3,588 27.851 133,801 1,004.324 772.084 5.906 38.459 140,651 957,100 A charge on the buildings has been registered with Companies House on 15 March 2018. This relates to a buildings grant receivable from Department of Agriculture Environment and Rural Affairs for the Toome House extension. An extension to the surgery was constructed on this property. The total extension was funded by 13.28 % by the Charity and 87.72°k by a grant secured independently by the tenant and paid directly to them. Only the charity's direct contnbution of £74.980 12023.. £6,338) as at 29 February 2024 has been capitalised as an addib'on to tangible fixed assets. The extension fomis part of the charity's propety, and full legal ownership rests with the charity. The charity has no obligation in respect of the tenant's grant funding. and no asset or liability is recognised for the tenant-funded portion. 19-
Toomebridge Industrial Development Amenities and Leisure Limited Company Limited by Guarantee Notes to the Financial Statements (corttinuedj Year ended 29 February 2024 18. Tangible fixed assets (conlinuedl Improvements to leasehold property relates to capital expenditure on the Lock Keepers Cottage and Duneane Garden Allotment. These properties are held under lease from Watetways Ireland and Down & Connor Diocese respectively_ A lease payment of £100 per annum is paid to WaleThvays Ireland in respect of the Lock Keepers Cottage. Tangible fixed assets held at valuation The buildings at Toome House have been valued by Mr Richard Mcculloch, Mcculloch Estate Agents on 26 August 2020 at £630.000 with a residual value of £350.000. The historic cost of the building was £1,345.154. 19. Heritage assets Heritage Assets included in the accounts relate to the Sculpture and the Community Garden (£64,160 & £61,983 respectively) Community Garden Sculpture Total Cost or valuation At 1 March 2023 and 29 February 2024 A¢¢umulated depreciation At 1 March 2023 and 29 February 2024 Carrying amount At 29 February 2024 At 28 February 2023 64.160 61,983 126.143 64,160 61.983 126,143 64,160 61.983 126.143 All Heritage Assets at reported at cost. 20. Debtors 2024 2023 Trade debtors Prepayments and accrued income Other debtors 5,380 3.520 13.053 6,137 3,428 22,782 21,953 32,347 21. Creditors: amounts falling due within one year 2024 2023 Bank loans and overdrafts Trade creditors Accruals and deferred income Social security and other tsxes Other creditors 76,388 6.079 14,786 5,289 4.434 9,574 12,853 2,924 4,635 106,976 29,986 A bridging loan wth Danske Bank Ltd for £78,250 had been agreed on 1 February 2023 and at 29 February 2024 £76,388 of this had been drawn down. -20-
Toomebridge Industrial Development Amenities and Leisure Limited Company Limited by Guarantee Notes to the Financial Ststements (continued) Year ended 29 February 2024 22. Government grants The amounts recognised in the financial statements for govemment grants are as follows" 2024 2023 Recognised in income from donations and lega¢ies'. Government grants income 23. Analysis of charitable funds 19,653 39,917 Unrestricted funds At 1 Mar 2023 Gains and At losses 29 Feb 2024 Income Expenditure Transfers General funds Revaluation reserve 663.512 193.655 (217.536) 4.204 643,835 2,190 (69) 1691 2,121 665.702 193,655 (217.536) 4.204 645,956 At 1 Mar 2022 Gains and At losses 28 Feb 2023 Income Expenditure Transfers General funds Revaluation reserve 694,049 186,143 (211 ,678) {5,002> 663,512 2,258 {681 168) 2.190 696,307 186,143 (211,678) (5,002) 665,702 Restricted funds At 1 Mar 2023 Gains and At losses 29 Feb 2024 Income Expenditure Transfers Propety 438,886 68,428 (61.261) (4.2041 441.849 At 1 Mar 2022 Gains and At losses 28 Feb 2023 Income Expenditure Transfers Propety 469,969 87.003 (123.088) 5.002 438,886 21
Toomebridge Industrial Development Amenities and Leisure Limited Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 29 February 2024 24. Analysis of net assets between funds Unrestncted Funds Restricted Total Funds Funds 2024 Tangible fixed assets Heritage assets Current assets Creditors less than 1 year Net assets 757.691 246.633 126,143 70,847 (1.774) 1,004,324 126,143 91,305 (133,9671 1,087,805 20,458 (132.193) 645,956 441,849 Unrestricted Funds Restricted Total Funds Funds 2023 Tangible fixed assets Heritage assets Current assets Creditors less than 1 year Net assets 693,738 263,364 126,143 54,062 (4,683) 957,102 126,143 81,799 {60,456) 27.737 (55.773) 665.702 438,886 1,104,588 25. Analysis of changes tn net debt At At 1 Mar 2023 Cash fiows 29 Feb 2024 Cash at bank and in hand Debt due bmthin one year 18,984 23,281 (76,388) 42,265 176,388) 18.984 {53,107) (34,123) A bridging loan with Danske Bank Ltd for £78.250 had been agreed on 1 February 2023 and at 29 February 2024 £76,388 of this had been drawn down. This loan is covered by an existing 'AII Monies Charge, from Danske Bank, that was registered with Companies House on 7 March 2000. 26. Related parties None of the Trustees have been paid any remunerats'on or received any other benefits from an employment with the Charity or a related paty dunng the year. No Trustee expenses have been incurred during the year. An amount of £7,735.66 was loaned to Toomebridge Inttiative Group, a local charity with some common Directors. This amount has been wntten off during the year as the Company was dissolved th Companies House via ¢ompulsory strike off on 15 August 2023. 27. Capital Commitment An extension of the Surgery unit wrthin the main property has been undertaken as at 29 February 2024. wth only £74,980 (2023.. 6,338) of the cost incurred in this year, and the total estimated ¢ost of Gompleting this project is £85,000. -22-
Toomebridge Industrial Development Amenities and Leisure Limited Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 29 February 2024 28. Off Balance Sheet arrangements An extension to the surgery was constructed on this property. The total extension was funded by 13 28 % by the Chanty and 87.72 % by a grant secured independently by the tenant and paid directly to them. Only the chanty's direct contribution of £74,980 12023 £6,338) as at 29 February 2024 has been capitalised as an addition to tangible fixed assets. The extension forms part of the charily's propety, and full legal ownership rests wth the charity. The charity has no obligab'on in respect of the tenant's grant funding. and no asset or liability is recognised for the tenant-funded portion. -22-
Toomebridge Industrial Development Amenities and Leisure Limited Company Limited by Guarantee Management Infonnation Year ended 29 February 2024 The following pages do not form part of the financial statements. -23-
Toomebridge Industrial Development Amenities and Leisure Limited Company Limited by Guarantee Detailed Statement of Financial Activities Year ended 29 February 2024 2024 2023 Income and endowments Donations and legacies Enkalon CCF - Community Foundation Housing Executive Albert Hunt- Youth Programme HMRC SSP & Job Retention Scheme KNI B - Pollinator ARN Community Foundation Waterways Ireland Saint Vincent De Paul Pain Programme CDHN - Tiny Steps Social Prescribing Project Big Lottery Grants Antrim & Newtownabbey Borough Council 2.000 750 5,000 2,000 173 8,181 5.000 9,321 1,100 600 7,256 20,378 6,600 12,000 9,974 20.904 19,653 39,917 71.131 99,676 Charitable activities Lock Keepers Cottage Income Duneane Garden income Oil Club Membership 102.762 12,528 93,635 5,450 115.295 99,085 Other income Rental income Room hire Toome Fair 71,803 2.187 1,667 71,530 1,585 1,270 75,657 74,385 Totsl income 262,083 273,146 -24-
Toomebridge Industrial Development Amenities and Leisure Limited Company Limited by Guarantee Detailed Statement of Financial Activities (continued) Year ended 29 February 2024 2024 2023 Expenditure Costs of Lock Keepers Cottage trading activities Purchases Wages and salanes Employer's NIC Operating leases Rent Rates and water Light and heat Repairs and maintenance Motor vehicle expenses Other office costs Card machine service charge Advertising Volunteers Treat Casual wages Lock Keepers Cottage general expenses 29,944 56,744 909 100 30,547 42,727 461 100 255 76 3,525 1,817 87 3.214 1,888 90 19 2,363 223 94 4.059 199 18 2,000 435 1,586 99,933 83,555 Expenditure on charitable activities Duneane Garden Purchases Purchases Office Wages and salaries Duneane Garden wages and salaries Employerfs NIC Office casual wages Oil Club Expenses Rates and water Light and heat Repairs and maintenance Insurance Duneane Garden light and heat Sundy expenses Legal and professional fees Bank charges Accountancy and book-keeping fees Telephone Other office costs Depreciation Release of Revaluation Reserve Charitable activity expenses Computer expenses Motor expenses, Travel and Entertainment PAYE Interest Subscription5 Bad Debts written off TIG Loan written off 10,329 2,963 85 61,283 50,270 18,259 1.834 1,211 1,000 5,100 558 6,122 18,891 5,691 600 1,282 1.874 269 9,039 2,237 415 31,043 {68) 44,391 1,257 2.649 {21) 243 300 7,735 582 4,521 2,752 6,356 800 1,902 969 10,609 3,308 294 27,756 169 28.825 1,559 4,105 60 1,081 780 caled forward 176,882 251,211 -25-
Toomebridge Industrial Development Amenities and Leisure Limited Company Limited by Guarantee Detailed Statement of Financial Activities (continued) Year ended 29 February 2024 2024 2023 Brought forward 176,882 251,211 Stsff training costs Advertising Toome Fair Expenses Bank Interest Duneane Garden Volunteer Celebration 350 12 882 710 28 178,864 251.211 Total expenditure 278,797 334.766 Net expenditure (16,714) {61,620) -26-
Toomebridge Industrial Development Amenities and Leisure Limited Company Limited by Guarantee Notes to the Detailed Statement of Financial Activities Year ended 29 February 2024 2024 2023 Costs of other trading activities Costs of other trading activities - Lock Keepers Cottage Lock Keepers Cottage purchases Lock Keepers Cottage wages and salanes Lock Keepers cottage employerfs NIC Lock Keepers Cottage premises lease Lock Keepers Cottage coffee machine rentsl Lock Keepers Cottage rates & water Lock Keepers Cottage light & heat Lock Keepers Cottage repairs & maintenance Lock Keepers Cottage motor vehicle expenses Lock Keepers Cottage office costs Lock Keepers Cottage Card machine seNice charge Lock Keepers Cottage advertising Lock keepers Cottage subscriptions Lock Keepers Cottage casual wages Lock Keepers Cottage 9eneral expenses 29,944 56,744 909 100 30,547 42,727 461 100 255 76 3.525 1,817 87 3.214 1,888 90 19 2,363 223 94 4,059 199 18 2,000 435 1,586 99,933 83,555 Costs of other trading activities 99,933 83,555 -27-
Toomebridge Industrial Development Amenities and Leisure Limited Company Limited by Guarantee Notes to the Detsiled Ststement of Financial Activities (continued) Year ended 29 February 2024 2024 2023 Expenditure on charitable activities Support costs Purchases Wages and salaries Employels NIC Casual wages Staff training Oil Club Expenses Rates and water rales Light and heat Repairs and maintenance Insurance Sundry expenses Legal and professional fees Bank charges Accountancy fees Telephone Printing, postsge and stab'onery Depreciation Advertising Computer expenses Toome fair expenses PAYE Interest Motor expenses Subscriptions Travelling Bad debt write offs Bank interest TIG loan written off 85 61,283 1,211 1,000 50.270 1,343 350 5,100 154 6,122 7,899 5,691 1,282 1,874 269 9,039 2,237 415 30,975 88 4,521 1,473 6,356 1,434 969 10,609 3,308 294 27,687 12 1,559 882 60 3,656 1,081 443 780 710 1,257 {21} 2,649 243 300 7.735 117.885 146.799 Saint Vincent De Paul Grant funding activities Saint Vincent De Paul expenditure 1.650 Waterways Ireland Grant funding activities Waterways Ireland expenses Antrim & Nevitownabbey Borough Council Grant funding activities ANBC - Seniors Christmas Dinner Event & Christmas Lights ANBC - Food and essential supplies expenses ANBC - Speed Indicator Device expenses ANBC - Warm, Well & Conneded 6,771 2,121 2,517 12,231 58 1,055 116 Carried forward 3,292 14,806 -28-
Toomebridge Industrial Development Amenities and Leisure Limited Company Limited by Guarantee Notes to the Detailed Statement of Financial Activities (Cont0d) Year ended 29 February 2024 2024 2023 Brought forward 3.292 14,806 ANBC - School Unifomis ANBC - FestivallFunday expense ANBC- Halloween expenses ANBC - Come to Community expenses ANBC - Northern Healthy Lifestyles expenses ANBC - Taste the Borough expenses 198 8,634 2,381 166 11,625 2,278 3,038 900 1.552 300 14,805 34,365 KNIB Pollinator grant Grant funding activities KNIB Pollinator expenses Big Lottery grant Grant funding activities Big Lottery grant- Duneane Garden Wages and Salaries Tiny Steps Grant funding activities Tiny Steps expenses Duneane Allotment Garden Grant funding activities Duneane Garden purchases Duneane Garden wtsgeslsalaries Duneane Garden employerfs NIC Duneane Garden rates and water rates Duneane Garden repairs & maintenance Duneane Garden light and heat Duneane Garden motor vehicle expenses Duneane Allotment Garden expenses Duneane Garden volunteer celebration 6,267 18,259 266 11.740 10,329 11) 491 494 1,279 800 2,963 404 10,992 600 468 29 13,895 14,959 Nl Housing Executive Grant funding activities NIHE Kids Cottage Garden expenses Other Grant funding activities Social Prescribing project expenses American Ireland fund expenses Pain Program expenses Education Authority- Summer Scheme ARN - Community Foundation expenses Community Foundation expenses 1,095 6,500 20.492 2,613 2,675 151 885 749 2,940 4,314 13,754 27,565 -29-
Toomebridge Industrial Development Amenities and Leisure Limited Company Limited by Guarantee Notes to the Detailed Statement of Financial Activities (continued) Year ended 29 February 2024 2024 2023 Expenditure on charitable activities 178,864 251.211 -30-