FERMANAGH RURAL COMMUNITY INITIATIVE COMPANY LIMITED BY GUARANTEE ACCOUNTS 31st MARCH 2025 COMPANY No: Nl 026294 CHARITY NO: NIC100658 FERMANAGH RURAL COMMUNITY INITIATIVE COMPANY LIMITED BY GUARANTEE ACCOUNTS YEAR ENDED 31 MARCH 2025 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 2025 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 2025. 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 Accountsnts 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 2025 Solicitors Cooper Wilkinson Imperial Buildings 3840 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 FRCI is a registered charity which has been involved in providing training for the long term unemployed Sin￿ 1995 and have been funded through Department for Employment & Learning and through ESF funding to date. This funding has been in the capacity as direct contracts with the department and indirectly through sub- contracting arrangements through the local South West College and Fermanagh & Omagh District Council. We have also availed of smaller funding initiatives to support those most disadvantaged and socially isolated within Fermanagh and bordering counties. With all projects we have managed to achieve target occupancy and met our grant obligations in relation to achievement of training and progression into employment. Funding from these two bodies is focused on improving the skills of the unemployed to empower people to empower themselves and move towards employment opportunities. We are accredited by OCR, BCS, IOSH, CIEH, NUCO, Edexcel and CCEA to provide a wide range of training delivery. We have previously been funded in delivery of training via Government programmes such as New Deal and Steps to Work and through an ESF funded project. AIM: Making Employment Accessible To All, Objectives: The relief of unemployment for the benefit of the public in such ways as may be thought fit, including assistance to find employment To develop the capacity and skills of the socially and economically disadvantaged community of Fermanagh and bordering counties To promote social inclusion for the public benefit by preventing people from becoming socially excluded, relieving the needs of those people who are socially excluded and assisting them to integrate into society. Prevention or relief of poverty in Fermanagh and bordering counties through service provision ACHIEVEMENTS AND PERFORMANCE The REAP project provides training andlor work placement opportunities to participants to support the individuals to compete for suitable job vacancies. FRCI had annual targets for recruitment, achievements and positive progression and each year had full occupancy and achieved targets higher results than targeted for achievements and positive progression. Achievements centred on formal qualifications gained and positive progression was measured through securing employment or progressing to further education. The project also recognises not all progression is measured through such measurable outcomes and took into account the improvement of soft skills between entry and exiting the programme. The achievements of these goals was supported by monthly team meetings between the Omagh and Fermanagh REAP teams to monitor all aspects of delivery and work to improve any areas of concern. For this year 142 participants were supported with 100 completing so far,. and 53 progressing to employment (target was 44) and an additional 12 going into further education. The figure included 18 participants who were made redundant from BT Centre in Enniskillen. FRCI also delivered ICT training to 24 participants within the outlined period. The project delivery was via classroom setting with three groups of eight commencing each class and provision was delivered over two mornings per week. The project delivered two groups within FRCI'S facility in Enniskillen and the third group was delivered within FODC'S training suite in Omagh. The project initially planned to deliver Level 1 ICDL to all participants with an assessment on progression to level 2 decided when level 1 was completed. Of the original 24 who commenced training 21 (870/0) completed and achieved their level 1 qualification. 14 of the 21 completers went on to complete level 2 and all 14 achieved their level 2 qualification. Alongside the completion of ICDL training the participants also received employability support via the REAP project. They now have their Cvs updated, applied for live vacancies and some have went through live interviews for local job vacancies. FRCI also delivered training in Fermanagh Farmland traditional skills via funding from Heritage Lottery Fund. The project supported 36 participants who attended twice weekly sessions to build knowledge of the area. Additional funding was secured via a number of smaller funding initiatives to support the ethos of the organisation FINANCIAL REVIEW 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 2025 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 2025 I report to the charity trustees on my examination of the accounts of the Charitable Incorporated Organisation (CIO) for the period from 1 April 2024 to 31 March 2025. 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 of the accounts to be reached. Clare Jones CCA of Corrigan & Co Ltd Chartered Certified 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 2025 Totsl Funds 2025 Total Funds 2024 Note INCOMING RESOURCES Incoming resources from generating funds: Voluntary income Other incoming resources 264,775 203,713 TOTAL INCOMING RESOURCES 264,775 203,713 Costs of generating funds: Costs of generating voluntary income Governance costs (30,589) (222,266) (24,750) (220,903) TOTAL RESOURCES EXPENDED (252,855) (245,653) NET INCOMING RESOURCES FOR THE YEAR RECONCILLIATION OF FUNDS Total funds brought fO￿ard 11,920 (41,940) (9,490> 32,450 TOTAL FUNDS CARRIED FORWARD 2,430 (9,490) 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 2025 2025 2024 Note INCOME TOTAL EXPENDITURE 264,775 203,713 (252,855) (245,653) OPERATING & SURPLUSIDEFICIENCY 11,920 (41,940) SURPLUSIDEFICIT FOR THE FINANCIAL YEAR 11,920 (41,940) 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 2025 2025 2024 Note FIXED ASSETS Tangible assets 9,216 10,971 CURRENT ASSETS Debtors Cash at bank and in hand 24,183 339 23,438 3,072 10 24,522 26,510 CREDITORS: Amounts falling due within one year (31,308) (46,971) NET CURRENT ASSETS (6,786) (20,461) TOTAL ASSETS LESS CURRENT LIABILITIES 2,430 (9,490) NET ASSETS 2,430 (9,490) FUNDS Restricted income funds Unrestricted income funds 12 2,430 (9,490) 2,430 (9,490) For the year ended 31 March 2025, Ihe charity was entitled to exemption under Article 257AI3} 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 257BI2). 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 . &.-knnd are signed on their behalf by.. Ms Patricia Sheridan Director Company Registration Number: N1026294 FERMANAGH RURAL COMMUNITY INITIATIVE COMPANY LIMITED BY GUARANTEE NOTES TO THE ACCOUNTS YEAR ENDED 31 MARCH 2025 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 200/0 reducing balance 10 FERMANAGH RURAL COMMUNITY INITIATIVE COMPANY LIMITED BY GUARANTEE NOTES TO THE ACCOUNTS continued YEAR ENDED 31 MARCH 2025 VOLUNTARY INCOME Unrestricted Total funds Totsl funds funds 2025 2024 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 Woodraffe Benton Foundation Neighbourly Foundation Community Development & Health HMRC Charities- gift aid 114,829 5,000 114,829 5,000 89,139 5,000 48,723 48,723 22,121 22,657 20,000 11,741 7,197 34,245 20,000 11,741 7,197 34,245 13,220 180 27,391 5,000 2,912 3,600 2,912 3,600 4,845 1,260 5,000 500 500 2,000 10,600 2,000 10,600 500 7,400 3,428 3,428 264,775 264,775 203,713 OTHER INCOMING RESOURCES Unrestricted Total funds funds 2025 Total funds 2024 Investment Income Bank deposit interest COSTS OF GENERATING VOLUNTARY INCOME Unrestricted Total funds funds 2025 Total funds 2024 Costs of generating income (Note 2) 30,589 30,589 24,750 FERMANAGH RURAL COMMUNITY INITIATIVE COMPANY LIMITED BY GUARANTEE NOTES TO THE ACCOUNTS continued YEAR ENDED 31 MARCH 2025 GOVERNANCE COSTS Unrestricted Total funds funds 2025 Total funds 2024 Salaries and wages Premises costs Accountancy fees Audit fees Consultancy fees Other financial costs Depreciation 155,784 38,242 1,200 155,784 38,242 1,200 159,120 40,052 1,200 24,736 2,304 24,736 2,304 17,788 2,743 222,266 222,266 220,903 NET OUTGOING RESOURCES FOR THE YEAR This is stated after charging., Total funds 2025 Total funds 2024 Depreciation Auditors, fees Operating lease costs: Land and buildings- rent Plant and machinery 2,304 2,743 25,000 25,000 12 FERMANAGH RURAL COMMUNITY INITIATIVE COMPANY LIMITED BY GUARANTEE NOTES TO THE ACCOUNTS continued YEAR ENDED 31 MARCH 2025 STAFF COSTS AND EMOLUMENTS Total staff costs were as follows: Total funds 2025 Total funds 2024 Wages and salaries (including redundancy) Social security costs Other post-retirement benefit costs 144,408 9,547 1,829 147,716 9,719 1,685 155,784 159,120 Particulars of employees: The average number of employees during the year, calculated on the basis of full-time equivalents, was as follows.. 2025 No. 2024 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 buildings Total COST At 1 April 2024 Additions Disposal 179,052 179,052 549 549 At 31 March 2025 179,601 179,601 DEPRECIATION At 1 April 2024 Charge for the year 168,081 2,304 168,081 2,304 At 31 March 2025 170,385 170,385 NET BOOK VALUE At 31 March 2025 9,216 9,216 At 31 March 2024 10,971 10,971 FERMANAGH RURAL COMMUNITY INITIATIVE COMPANY LIMITED BY GUARANTEE NOTES TO THE ACCOUNTS continued YEAR ENDED 31 MARCH 2025 DEBTORS 2025 2024 Trade debtors Prepayments 24,183 23,438 24,183 23,438 10. CASH AT BANK AND IN HAND 2025 2024 Bank deposit account Cash in hand 332 3,066 339 3,073 11. CREDITORS: Amounts falling due within one year 2025 2024 PAYE and social security Other creditors & accruals Bank loans & overdrafts Loan from Ciaran 5,161 17,405 742 8,000 4,416 10,015 24,540 8,000 31,308 46,971 12. UNRESTRICTED INCOME FUNDS Balance at 1 Apr 2024 Incoming Resources Balance at 31 Mar 2025 General funds (9,490) 11,920 2,430 13. COMPANY LIMITED BY GUARANTEE The Company is registered with The Charity Commission for Northern Ireland under Reference Number NIC100658. 14