FERMANAGH RURAL COMMUNITY INITIATIVE COMPANY LIMITED BY GUARANTEE ACCOUNTS 318t MARCH 2024 COMPANY No: Nl 026294 CHARITY NO: NIC100658
FERMANAGH RURAL COMMUNITY INITIATIVE COMPANY LIMITED BY GUARANTEE ACCOUNTS YEAR ENDED 31 MARCH 2024 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 2024 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 2024. 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 24 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 2024 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 2023124 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 services provided., and To partner with appropriate organisations to respond to existing needs and emerging opportunities. ACHIEVEMENTS AND PERFORMANCE The ASPIRE project completed on 31 st March 2023 and it wasn't replaced until the beginning of June 2023 with a project called REAP. Due to late start for project the number joining during 23124 was 72 with only four completing within that period. Two went into further education and two returned to benefits. Our new Heritage project commenced on 1 st September 2023 and during this period 48 participants availed of training in local Fermanagh Farmland Heritage training activities. We continued with our private training in the areas of IT, First Aid, Food Hygiene and Health and Safety and 85 completed and achieved within this range of course delivery. 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 (£41 ,940). FRCI continue to explore all funding avenues to draw down funds to ensure the company remains sustainable in the future.
FERMANAGH RURAL COMMUNITY INITIATIVE COMPANY LIMITED BY GUARANTEE TRUSTEES, ANNUAL REPORT continued YEAR ENDED 31 MARCH 2024 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 2024 I report to the charity trustees on my examination of the accounts of the Charitable Incorporated Organisation (CIO) for the period from 1 April 2023 to 31 March 2024. Responsibilitie8 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 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 understandi of the accounts to be reached. Clare Jo Corrigan Ltd Chartered Certified Accountants Unit 9 Enniskillen Business Centre 21 Lackaghboy Road Enniskillen Co. Fermanagh BT74 4RL esF Date:
FERMANAGH RURAL COMMUNITY INITIATIVE COMPANY LIMITED BY GUARANTEE STATEMENT OF FINANCIAL ACTIVITIES YEAR ENDED 31 MARCH 2024 Total Funds 2024 Total Funds 2023 Note INCOMING RESOURCES 5ncoming resources from generating funds: Voluntary income Other incoming resources 203,713 263,786 TOTAL INCOMING RESOURCES 203,713 263,786 Costs of generating funds,. Costs of generating voluntary income Governance costs (24,750) (220,903) (31,966) (256,317) TOTAL RESOURCES EXPENDED (245,653) (288,283) NET OUTGOING RESOURCES FOR THE YEAR RECONCILLIATION OF FUNDS Total funds brought forward (41,940) {25,902) 32,450 56,947 TOTAL FUNDS CARRIED FORWARD (9,490) 32,450 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 2024 2024 2023 Note INCOME TOTAL EXPENDITURE 203,713 263,786 (245,653) (288,283) OPERATING DEFICIENCY (41,940) (24,497) DEFICIT FOR THE FINANCIAL YEAR (41,940) (24,497) 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 2024 2024 2023 Note FIXED ASSETS Tangible assets 10,971 13,714 CURRENT ASSETS Debtors Cash at bank and in hand 23,438 3,072 22,653 3,957 10 26,510 26,610 CREDITORS: Amounts falling due within one year (46,971) (7,874) NET CURRENT ASSETS (20,461) 18,736 TOTAL ASSETS LESS CURRENT LIABILITIES {9,490) 32,450 NET ASSETS (9,490) 32,450 FUNDS Restricted income funds Unrestricted income funds 12 (9,490) 32,450 (9,490) 32,450 For the year ended 31 March 2024, 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 2578{21. The trustees acknowledge their responsibilities for 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 Patricia Sheridan Director ILIL Company Registration Number.. N1026294
FERMANAGH RURAL COMMUNITY INITIATIVE COMPANY LIMITED BY GUARANTEE NOTES TO THE ACCOUNTS YEAR ENDED 31 MARCH 2024 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. Ba8is 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 ststement 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 2024 VOLUNTARY INCOME Unrestricted Total funds Total funds funds 2024 2023 ASPIRE HMRC grants & allowances National Lottery grant- community fund Heritage Fund Community foundation Garfield Weston Foundation Other income Donations Training Good things foundation Migrant Help ESOL & Employability Grant Halifax foundation Room hire Local Living Grant The Ireland Heart of the community fund Nineven Trust Neighbourly Foundation Community Development & Health The Allen Lane Mentee Program FODC 89,139 5,000 89,139 5,000 126,351 4,000 10,000 22,121 22,657 22,121 22,657 47,069 9,828 10,000 12,125 13,220 180 27,391 13,220 180 27,391 14,833 2,040 5,000 5,000 4,185 385 4,845 1,260 5,000 4,845 1,260 5,000 500 7,400 500 7,400 1,000 13,600 5,965 1,000 1,405 203,713 203,713 263,786 OTHER INCOMING RESOURCES Unrestricted Total funds funds 2024 Total funds 2023 Investment Income Bank deposit interest COSTS OF GENERATING VOLUNTARY INCOME Unrestricted Total funds funds 2024 Total funds 2023 Costs of generating income (Note 2) 24,750 24,750 31,966 10
FERMANAGH RURAL COMMUNITY INITIATIVE COMPANY LIMITED BY GUARANTEE NOTES TO THE ACCOUNTS continued YEAR ENDED 31 MARCH 2024 GOVERNANCE COSTS Unrestricted Total funds funds 2024 Total funds 2023 Salaries and wages Premises costs Accountancy fees Audit fees Consultancy fees Other financial costs Depreciation 159,120 40,052 1,200 159,120 40,052 1,200 188,672 42,585 1,200 17,788 2,743 17,788 2,743 20,432 3,428 220,903 220,903 256,317 NET OUTGOING RESOURCES FOR THE YEAR This is stated after charging.. Total fund8 2024 Total funds 2023 Depreciation Auditors, fees Operating lease costs: Land and buildings- rent Plant and machinery 2,743 3,428 25,000 25,000
FERMANAGH RURAL COMMUNITY INITIATIVE COMPANY LIMITED BY GUARANTEE NOTES TO THE ACCOUNTS continued YEAR ENDED 31 MARCH 2024 STAFF COSTS AND EMOLUMENTS Totsl stsff costs were as follows: Total funds 2024 Total funds 2023 Wages and salaries (including redundancy) Social security costs Other post-retirement benefit costs 147,716 9,719 1,685 188,672 22,706 9,258 159,120 220,636 Particulars of employees: The average number of employees during the year, calculated on the basis of full-time equivalents, was as follows: 2024 No. 2023 General manager Training staff Admin staff Number of maintenance staff No employee received remuneration of more than £60,000 during the year. TANGIBLE FIXED ASSETS Investment Other plant & Land & machinery etc building8 Total COST At 1 April 2023 Additions Disposal 179,052 179,052 At 31 March 2024 179,052 179,052 DEPRECIATION At 1 April 2023 Charge for the year 165,338 165,338 2,743 2,743 At 31 March 2024 168,081 168,081 NET BOOK VALUE At 31 March 2024 10,971 10,971 12
At 31 March 2023 13,714 13,714 FERMANAGH RURAL COMMUNITY INITIATIVE COMPANY LIMITED BY GUARANTEE NOTES TO THE ACCOUNTS continued YEAR ENDED 31 MARCH 2024 DEBTORS 2024 2023 Trade debtors Prepayments 23,438 22,653 23,438 22,653 10. CASH AT BANK AND IN HAND 2024 2023 Bank deposit account Cash in hand 3,066 3,950 3,073 3,957 11. CREDITORS: Amounts falling due within one year 2024 2023 PAYE and social security Other creditors & accruals Bank loans & overdrafts Loan from Ciaran 4,416 10,015 24,540 8,000 2,149 5,725 46,971 7,874 12. UNRESTRICTED INCOME FUNDS Balance at 1 Apr 2023 Outgoing Resources Balance at 31 Mar 2024 General funds 32,450 (41,940) (9,490) 13. COMPANY LIMITED BY GUARANTEE The Company is registered with The Charity Commission for Northern Ireland under Reference Number NIC100658. 13