FERMANAGH RURAL COMMUNITY INITIATIVE COMPANY LIMITED BY GUARANTEE ACCOUNTS 31st MARCH 2023 COMPANY No: Nl 026294 CHARITY NO: NIC100658 FERMANAGH RURAL COMMUNITY INITIATIVE COMPANY LIMITED BY GUARANTEE ACCOUNTS YEAR ENDED 31 MARCH 2023 CONTENTS PAGE Trustees, annual report Independent examiner's report Statement of financial activities Income and expenditure account Balance sheet Notes to the accounts 9-12 FERMANAGH RURAL COMMUNITY INITIATIVE COMPANY LIMITED BY GUARANTEE TRUSTEES, ANNUAL REPORT YEAR ENDED 31 MARCH 2023 The trustees, who are also directors for the purposes of company law, present their report and the unaudited accounts of the charity for the year ended 31 March 2023. REFERENCE AND ADMINISTRATIVE DETAILS Registered charity name Charity registration number Company registration number Fermanagh Rural Community Initiative NIC100658 N1026294 The trustees The trustees who served the charity during the year were as follows: Ms Patricia Sheridan Mr M J Ivan Kee Mr Christopher Spence Mr Robin Cornell RETIREMENT OF TRUSTEES The following trustees are to retire in accordance with the Articles of Association and, being eligible, offer themselves for re-appointment: Ms Patricia Sheridan Mr M J Ivan Kee Mr Christopher Spence Mr Robin Cornell Secretary Mr Robin Cornell Accountants Clare Jones Corrigan & Co Ltd Unit 9 Enniskillen Business Centre 21 Lackaghboy Road Enniskillen Co. Fermanagh Northern Ireland BT74 4RL Bankers First Trust 2-4 East Bridge Street Enniskillen Co. Fermanagh Northern Ireland BT74 7BT FERMANAGH RURAL COMMUNITY INITIATIVE COMPANY LIMITED BY GUARANTEE TRUSTEES, ANNUAL REPORT continued YEAR ENDED 31 MARCH 2023 Solicitors Cooper Wilkinson Imperial Buildings 38-40 Queen Elizabeth Road Enniskillen Co. Fermanagh Northern Ireland BT74 7BY STRUCTURE GOVERNANCE AND MANAGEMENT FRCI is a company limited by guarantee, having no share capital and is governed by its Memorandum and Articles of Association. OBJECTIVES AND ACTIVITIES Our vision is to make employment accessible to all by supporting and encouraging people to reach their full potential through training and development. The strategic objectives for 2022123 are: To manage finances and assets efficiently and effectively., To develop and deliver quality training which fulfil customer needs; To increase the client and customer base of FRCI through effective marketing of the range of seniices provided,. and To partner with appropriate organisations to respond to existing needs and emerging opportunities. ACHIEVEMENTS AND PERFORMANCE During the year FRCI completed delivery of ASPIRE Project and Heritage project. The ASPIRE project was an employability project with 185 availing of support. Of this figure 90 % achieved at least one formal qualification and 50 % progressed into employment. The Heritage project for a recreational project to support the promotion of greenwood furniture created for waste timber and fallen trees. 36 participants availed of the support during this period. We also supported 104 private individuals to complete short courses in First Aid and Food Hygiene. FINANCIAL REVIEW As trustees, we are disappointed with the financial performance of the company during the financial year which has resulted in net outgoing resources of (£25,902), however, the Balance Sheet demonstrates that the company still has sound resources and liquidity. FERMANAGH RURAL COMMUNITY INITIATIVE COMPANY LIMITED BY GUARANTEE TRUSTEES, ANNUAL REPORT continued YEAR ENDED 31 MARCH 2023 SMALL COMPANY EXEMPTIONS This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption. Registered office.. Unit 3 56A Tempo Road Enniskillen Co. Fermanagh N. Ireland BT74 6HR Signed by order of the trustees Robin Cornell FERMANAGH RURAL COMMUNITY INITIATIVE COMPANY LIMITED BY GUARANTEE INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF FRCI YEAR ENDED 31 MARCH 2023 I report to the charity trustees on my examination of the accounts of the Charitable Incorporated Organisation (CIO) for the period from 1 April 2022 to 31 March 2023. Responsibilities and basis of report As trustees of the charity you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act,). Having satisfied myself that the accounts of the CIO 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 your charity's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act,). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act. Independent examiner's statement Since the CIO'S gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that l am qualified to undertake the examination because l am a member of the CIMA, 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 the examination giving me cause to believe: 1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act., or 2. the accounts do not accord with those records,. or 3. the accounts do not comply with 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 4. the accounts have not been prepared in accordance with the methods and principles of the statement of Recommended Practice for accounting and reporting by the charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understandin f the accounts to be reached. Clare Jon Corrigan oLtd Chartered ertified Accountants Unit 9 Enniskillen Business Centre 21 Lackaghboy Road Enniskillen Co. Fermanagh BT74 4RL Date.. FERMANAGH RURAL COMMUNITY INITIATIVE COMPANY LIMITED BY GUARANTEE STATEMENT OF FINANCIAL ACTIVITIES YEAR ENDED 31 MARCH 2023 Total Funds 2023 Total Funds 2022 Note INCOMING RESOURCES Incoming resources from generating funds.. Voluntary income Other incoming resources 263,786 257,587 56 TOTAL INCOMING RESOURCES 263.786 257,643 Costs of generating funds: Costs of generating voluntary income Governance costs {31,966) (24,499) (20,570) (243,749) TOTAL RESOURCES EXPENDED (288.283) (264,319) NET OUTGOING RESOURCES FOR THE YEAR RECONCILLIATION OF FUNDS Total funds brought forward (25,902) (6,676) 56,947 63,623 TOTAL FUNDS CARRIED FORWARD 32,450 56,947 The statement of Financial Activities includes all gains and losses in the year and therefore a statement of total recognised gains and losses has not been prepared. All of the above amounts relate to continuing activities. FERMANAGH RURAL COMMUNITY INITIATIVE COMPANY LIMITED BY GUARANTEE INCOME AND EXPENDITURE ACCOUNT YEAR ENDED 31 MARCH 2023 2023 2022 Note INCOME TOTAL EXPENDITURE 263,786 257,643 (288,283) (264,319) OPERATING DEFICIENCY (24,497) (6,676) DEFICIT FOR THE FINANCIAL YEAR (24,497) (6,676) The Income and Expenditure Account includes all gains and losses in the year and therefore a statement of total recognised gains and losses has not been prepared. All of the above amounts relate to continuing activities. FERMANAGH RURAL COMMUNITY INITIATIVE COMPANY LIMITED BY GUARANTEE BALANCE SHEET YEAR ENDED 31 MARCH 2023 2023 2022 Note FIXED ASSETS Tangible assets 13,714 17,142 CURRENT ASSETS Debtors Cash at bank and in hand 22,653 3,957 24,378 2,918 10 26,610 47,296 CREDITORS: Amounts falling due within one year (7,874) (7,491) NET CURRENT ASSETS 18,736 39,805 TOTAL ASSETS LESS CURRENT LIABILITIES 32,450 56,947 NET ASSETS 32,450 56,947 FUNDS Restricted income funds Unrestricted income funds 12 32,450 56,947 32,450 56,947 For the year ended 31 March 2023, the charity was entitled to exemption under Article 257A{3) of the Companies {Northern Ireland) Order 1986. No members have required the charity to obtain an audit of its accounts for the year in question in accordance with Article 257B(2). The trustees acknowledge their responsibilities ft)r complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. These accounts were approved by the members of the committee and authorised for issue on the and are signed on their behalf by.. Ms Patrici Director Sheridan Company Registration Number: N1026294 FERMANAGH RURAL COMMUNITY INITIATIVE COMPANY LIMITED BY GUARANTEE NOTES TO THE ACCOUNTS YEAR ENDED 31 MARCH 2023 ACCOUNTING POLICIES Statement of compliance The financial statements have been prepared in accordance with 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 SORP (FRS102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011 . Basis of accounting The accounts have been prepared under the historical cost convention. They are presented in pound sterling and are rounded to the nearest pound. Cash flow statement The trustees have taken advantage of the exemption in Financial Reporting Standard No 1 (revised) from including a cash flow statement in the financial statements on the grounds that the company is small. Fixed assets All fixed assets are initially recorded at cost and are subsequently stated at cost less any accumulated depreciation. Depreciation Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows: Computers & Fixtures, fittings 20 % reducing balance FERMANAGH RURAL COMMUNITY INITIATIVE COMPANY LIMITED BY GUARANTEE NOTES TO THE ACCOUNTS continued YEAR ENDED 31 MARCH 2023 VOLUNTARY INCOME Unrestricted Total funds Total funds funds 2023 2022 ASPIRE HMRC grants & allowances National Lottery grant - community fund Hertiage Fund Community foundation Garfield Weston Foundation Other income CO-OP Ireland Training Good things foundation FYPD (IFI) Halifax foundation Room hire Covid money - Dept of communities American Ireland fund Nineven Trust Neighbourly Foundation Community Development & Health The Allen Lane Mentee Program FODC 126,351 4,000 10,000 126,351 4,000 10,000 122,922 15,690 49,700 47,069 9,828 10,000 12,125 47,069 9,828 10,000 12,125 5,023 9,808 4,676 12,184 7,270 4,000 14,833 2,040 14,833 2,040 4,185 385 4,185 385 850 15,168 4,296 5,000 1,000 1,000 13,600 1,000 13,600 5,965 1,000 1,405 5,965 1,000 1,405 263,786 263,786 242,929 OTHER INCOMING RESOURCES Unrestricted Total funds funds 2023 Total funds 2022 Investment Income Bank deposit interest 56 COSTS OF GENERATING VOLUNTARY INCOME Unrestricted Total funds funds 2023 Total funds 2022 Costs of generating income (Note 2) 31,966 31,966 20,570 10 FERMANAGH RURAL COMMUNITY INITIATIVE COMPANY LIMITED BY GUARANTEE NOTES TO THE ACCOUNTS continued YEAR ENDED 31 MARCH 2023 GOVERNANCE COSTS Unrestricted Totsl funds funds 2023 Total funds 2022 Salaries and wages Premises costs Accountancy fees Audit fees Consultancy fees Other financial costs Depreciation 188,672 42,585 1,200 188,672 42,585 1,200 176,830 46,836 1,200 20,432 3,428 20,432 3,428 16,106 2,777 256,317 256,317 243,749 NET OUTGOING RESOURCES FOR THE YEAR This is stated after charging: Total funds 2023 Total funds 2022 Depreciation Auditors, fees Operating lease costs.. Land and buildings- rent Plant and machinery 3,428 2,777 25,000 25,000 FERMANAGH RURAL COMMUNITY INITIATIVE COMPANY LIMITED BY GUARANTEE NOTES TO THE ACCOUNTS continued YEAR ENDED 31 MARCH 2023 STAFF COSTS AND EMOLUMENTS Total staff costs were as follows: Total funds 2023 Totsl funds 2022 Wages and salaries (including redundancy) Social security costs Other post-retirement benefit costs 188,672 22,706 9,258 176,830 14,117 6,453 220,636 197,400 Particulars of employees: The average number of employees during the year, calculated on the basis of full-time equivalents, was as follows: 2023 2022 General manager Training staff Admin staff Number of Maintenan￿ staff No employee received remuneration of more than £60,000 during the year. TANGIBLE FIXED ASSETS Investment Other plant & Land & machinery etc buildings Totsl COST At 1 April 2022 Additions Disposal 20,000 179,052 179,052 (20,000) At 31 March 2023 179,052 179,052 DEPRECIATION At 1 April 2022 Charge for the year 161,910 161,910 3,428 3,428 At 31 March 2023 165,338 165,338 NET BOOK VALUE At 31 March 2023 13,714 13,714 At 31 March 2022 17,142 17,142 12 FERMANAGH RURAL COMMUNITY INITIATIVE COMPANY LIMITED BY GUARANTEE NOTES TO THE ACCOUNTS continued YEAR ENDED 31 MARCH 2023 DEBTORS 2023 2022 Trade debtors Prepayments 22,653 22,600 1,778 22,653 24,378 10. CASH AT BANK AND IN HAND 2023 2022 Bank deposit account Cash in hand 3.950 22,918 3,957 22,918 11. CREDITORS: Amounts falling due within one year 2023 2022 PAYE and social security Other creditors Advance payment - IFI 2,149 5,725 3,868 3,263 360 7,874 7,491 12. UNRESTRICTED INCOME FUNDS Balance at 1 Apr 2022 Outgoing Resources Balance at 31 Mar 2023 General funds 56,947 (24,497) 32,450 13. COMPANY LIMITED BY GUARANTEE The Company is registered with The Charity Commission for Northern Ireland under Reference Number NIC100658. 13