BRAID COMMUNITY ASSOCIATION FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 CHARITY REG NO: 100677 COMPANY LIMTED BY GUARANTFE AND NOT HAVING A SHAIII CAI)ITAL COMI)ANY NO: NI 617382 BRAID COMMUNITY ASSOCIATION FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 CONTENTS Page Administrative details Report of the Board of Trustees Independent Examiners, Report to the Trustees Statement of Financial Activities Balance Sheet Notes to the Fiiiancial Statements 9-12 BRAID COMMUNITY ASSOCIATION FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 ADMINISTRATIVE DETAILS Charitable company name Braid Community Association Charity reference number NIC 100677 Company reference number N1617382 Registered Office 37 Longmore Road Tlie Bi'aid Ballyniena County Antrim BT43 7JR Trustecs Denise Forde Carmel McKendry Maeve Bird Mary Elizabctli Devine Moii'a Dobbiii Williani M itcliell Rosalecii Mitcli¢ll Treasurer Rosaleen Mitchell Secretary Carinel McKendry Independent Examiner K I-liggins FCA 9 Knockaiiully Road Martinstowii Ballymcna BT43 7LZ Bankers Santander Bank 131 Church Street Ballymena BT43 6DG BRAID COMMUNITY ASSOCIATION REPORT OF THE BOARD OF TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023 The Board of Trustees pi'esent their report and financial statements of the Association for the year ended 31 March 2023. The Trustees have adopted the provisions of the Statement of Recommended Practice (SORP) "Accounting and Reporting by Charities" (FRS 102) in preparing the annual report and financial statements of the Association. The financial stateinents Iiave beeii prepared in accordance witli the accoiinting policies set out in the notes to the fiiiaiicial statemeiits and coinply with thc Association's governing documeiit, the Charities Act (Nortliei'ii Ii'elaiid) 2008, Charities (Accoiints and Reports) Regulations (Northern Ireland) 2015, and Cliarities SORP (FRS 102) Accountiiig and Reporting by Charities.. Statement of Recommended Practice applicablc to charities prepai'ing tlieir accouiits in accordance witli the Financial Reporting Staiidard applicable in the UK and Republic of Ireland (FRS 102). REFERENCE AND ADMINISTRATIVE DLTAILS Refei'eiice aiid ¢idiniiiistrativc details al'e sliown in tlie scliedule of Ti'iistees of the Associatioii and pi'ofessioiial advisei's on Pdge l of the financial statements. TRUSTEES OF THE ASSOCIATION Tlie Directors of the Association are its Trustees for tlie purpose of chai'ity law. The Trustees who served the company duringy the year were as follows: Deiiise Forde Carniel McKendry Maeve Bii'd Mary Eli7,abetli Devine Moii'a Dobbiii William Mitchell Rosaleeii Mitcliell PUBLIC BEIYEFIT STATEMENT The directors of Braid Commuiiity Association confirm tliat they have had due regard for the guidance on Piiblic Benefit by the Charity Commission for Northerii Ireland aiid are pleased to report that during the period the Association continued to provide the Public Beiiefits throiigh programmes aiid sei'vices we offer. In pai'ticular, the directors coiisider Iiow planned activities will contribute to the aims and objectives they have set. Public Benefits The direct benefits which flow from the objectives of Braid Community Association are to turn the fonner Old Braid Primary School into a community centre, offering classes and a meeting place 21Page BRAID COMMUNITY ASSOCIATION REPORT OF THE BOARD OF TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023 PUBLIC BENEFIT STATEMENT (continued) where people of all ages can get together and interact as curreiitly there is no cross-conimunity space available in the area, and in so doing reduce the effects of rural isolation and improve the health of the community. There is no private benefit flowing from the purposes. OBJECTIVES AND ACTIVITIES The principal activities of the Association are as stated in its constitution: To promote the benefit of the inhabitants of the Braid Valley and district, County Antrim, without distinction of gender, sexual orieiitation, age, disability, race, eihnicily, or political, religioiis or other opinion by associating with the statutory authorities, voluntary and conimunity organisations and inhabitants in a common effort. STRUCTURE GOVERNANCE AND MANAGEMENT Governin Document Bi'aid Coiiiiiiiiiiity Association is a conipany liniited by giiarantee not having a share capital and avails of the use of 'Liiiiited' exeinption. Tlie Coinpany was incoi'porated oil 19 March 2013. The Association is registered with the NI Chai'ity Coiniiiission as of 19 October 2014 - Charity No: 100677. anisational structure and rclated arties Responsibilities for the activities of the Association is vested in and carried out by a Board of Trustees which meets at intervals throughout the period. Trustees may be appointed by resolution of a Ineeting of the Board of Triistees. None of the Trustees receive reinuneration or other beiiefit froin their work with the charity. Any conncctioii bctween a Trustee of the Charity with a contracted siipplier Inust be disclosed to tlie full Boai'd in the same way as any other contractiial rclalioiiship willi a related parly. In ihe cui'rent yeai. Iliei'e are iio such related party ti'ansactions to report. Recruitment a ointment induction and trainin The Board of Trustees have been involved in the Association for several years and so are familiar with its work. The Trustees regularly review the requirements of the Association and the possibility of a need for additional Trustees. Appropriate training and induction are available to all new Trustees. Financial risk mana ement ob'ectives and olicies Tlie Ti'ustees Iiave ovel'all respoiisibility fol. ensui'ing that the Association has in place an appropriate system of controls, financial and otherwise. The Trustees have assessed the major risks to which the Association is exposed, in particular those related to the operations and finances of the Association and are satisfied the systems are in place to mitigate any exposurc to major risks. 31Page BRAID COMMUNITY ASSOCIATION REPORT OF THE BOARD OF TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023 (continued) ACHIEVEMENTS AND PERFORMANC The Company is a non-profit making organisation. Total income for the year amounted to £6,720 (2022: £4,177). Income derived froin doiiations and legacies amounted to £nil (2022., £nil) and other income amounted to £6,720 (2022: £4,177). Total expenditiire for the year amounted to £5,794 (2022: £4,222). The net income for the year amounted to £926 (2022: _£46) with net assets of £3.506 (2022: £2,579) at 31 March 2023. The Trustees consider that tlie Association is in a satisfactory position to carry on its charitable activities. The Charity has siiccessfiilly provided a range of activities to target groups in Ilie year. The Old Braid Primary Scliool is used for classes and the preinises are rented out to locals. Bi'aid Commuiiity Association are grateful to the Community Fund Nl and Mid & East Aiitrim Council for their generous fundingF in 2022 - 2023. PLANS FOR FUTURE PERIODS There are no major chaiigyes envisaged in tlie foi'eseeable fiiture. TRUSTEES RESPONSIBILITY STATEMENT The Trustees (who are also the directors of Braid Comniiiiiity Associcltion) for the piirposes of company law) are respoiisible for prepariii& tlie TrLlStees' Aniiual Report and tlie financial stateillents in accoi'dance with applicable law and UnitLd Kingydoni ALcoLllltiiigy Staiidards (Uiiited Kingdom Generally Accepted Accounting Practice) includiiig FRS 102 'The Financial Reportiiig Standard applicable in the UK and Republic of Ireland" The law applicable to charities in Noi'tliern Ireland requires the directors to prepare financial statements for each fiiiancial period which give a true and fair view of the of the Association and of the incoming resources and application of resources, including the inconie and expenditiire, of the Association for that period. In prepariiig these financial statements, the directors are required to,, select suitable accounting policies and then apply them consistently. observe the methods and principles in the Charities SORP 2015 (FRS 102). make judgements and accounting estimates that are reasonable and prudent. state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in tlie financial statements. prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Association will continue in opcration. 41Page BRAID COMMUNITY ASSOCIATION REPORT OF THE BOARD OF TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023 TRUSTEES RESPONSIBILITY STATEMENT (CONTINUED) The Trustees are responsible for keeping proper accoiinting records that disclose with reasonable accuracy at any time the financial position of the Association and enable them to ensure tliat the fiiiancial stateinents coniply witli tlie Compaiiies Act 2006, Charities Act (Nortlicrii li-el¢ind) 2008 and The Charities (Accouiits and Reports) Regulations (Noi'tlierii Ii'eland) 2015. They are also responsible for safeguarding the assets of the Association and hence for taking reasonable steps for the prevention and detection of fraud and other I￿egular1ties. In so far as the Trustees are aware: thcrc is no relevant iiiforniation of which the Association's Independent Examiner is unaware. and the Trustees have taken all steps that they ought to have taken to make themselves aware of any relevant iiiforination and to establish that the independent examiner is aware of that information. INDEPENDENT EXAMINER A resolution proposing K HigLyins FCA lo be re-appointed as independent exaniiiier will be put forward at the Aiiniial Geiiei'al Meetiiig. SMALL COMPANY EXEMI)TIONS This report has been prepared in accordaiice witli the special provisions for sniall companies under Part 15 of the Companies Act 2006. By Order of the Management Committee.. Registered office: 37 Longmore Road The Bi'aid Ballymena BT43 7JR Date: Ms Denise Forde Trustee Approved by the Trustees on: Date: 01 November 2023 51Pag¢ BRAID COMMUNITY ASSOCIATION INDEPENDENT EXAMINER'S REPORT TO THE MEMBERS OF BRAID COMMUNITY ASSOCIATION FOR THE YEAR ENDED 31 MARCH 2023 I report on the accounts of Braid Community Association for the year ended 31 March 2023 as set out on pages 7 to 12. RESPECTIVE RESPONSIBILITIES OF TRUSTEES AND INDEPENDENT EXAMINER The Trustees (who are also the directors of Braid Community Association) are responsiblc for the preparatioii of the accounts in accordance with the requirements of the Companies Act 2006. It is my responsibility to.. examine the accounts under section 65 of the Charities Act (Northern Ireland) 2008. follow tlie procedures laid down in the geiieral Directions given by the Charity Cominission for Northern Ireland uiider section 65{9)(b) of the Charities Act. and state wliether particular matters have come to my attention. BASIS OF INDEPENDENT EXAMINER'S STATEMENT I have examined your Charity accouiits as required under section 65 of the Chai'ities Act and my examination was carried out in accordance with the general Directions given by the Charity Comniission foi. Nortliern Ireland under sectioii 65(9)(b) ot. the Charities Act. My examination iiicluded a review of the accounting records kept by the Charity and a coinparison of the accounts preseiited with tliose I'ecords. It also included coiisidcratioii of any unusual items or disclosures in tlie accouiits aiid seeking explanatioiis fi'oiii you as Ti'ustees concei'iiiiig aiiy such niattei's. My role is to state wliether any matei'ial matters have come to my attention gyiviiigy me cause to believe: l. That accounting records were not kept iii accordance with section 386 of the Coiiipanies Act 2006 2. That the accounts do not accord with tliose accounting records 3. Tliat the accoiints do not coiiiply with thc accolinting requii'enieiits of section 396 of the Companies Act 2006 aiid with the methods and principles of the Cliarities Statement of Recommendcd Practice applicable to charities prepai'ing their accoiints iii accordance with the Fiiiaiicial Ileporting Standard applicable in thL UK aiid Ilcpiiblic of Ireland. 4. That there is further information needed for a propel. understanding of the accounts to reached. INDEPENDENT EXAMINER'S STATEMENT I have completed my examination and have no conceriis in respect of matters (l ) to (4) listed above and, in connectioii with following thc dii'cctions of the Charity Commission for Northern Irelaiid, I have found no matters that require drawing to your attention, K Higgins FCA 9 Knockanully Road Martinstown Ballymena BT43 7LZ DATE: 01 November 2023 61Page BRAID COMMUNITY ASSOCIATION STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2023 Total Funds 2023 Total Funds 2022 Unrestricted Funds Restricted Funds Note Income from: Donations and legacies Charitable activities Other trading activities 3,426 3,294 6,720 4,177 Total income 3,426 3,294 6,720 4,177 Expenditure on: Cliaritable activities Other costs 1,959 3,835 5,794 4,222 Total expenditure Net income 1,959 3,835 5,71)4 926 4,222 1,467 (540) Net movemcnt in funds 1,467 (540) 926 Reeonciliation of funds: Total fuiids brought foi'ward Total funds carried fonvard 30 2,549 2,009 2,579 3,506 2,625 2,579 1,497 Tlie Association has no recogiiised gains or losses in the year other than those included in the Statement of Financial Activities. All the operations of the Association are classed as continuing. 71Page BRAID COMMUNITY ASSOCIATION BALANCE SHEET AS AT 31 MARCH 2023 2023 2022 Note Current assets Cash at bank and in hand 3,871 2,944 Creditors: amounts falling due within one year 365 365 Net current assets 3,506 2,579 Total assets less current liabilities 3,506 2,579 Creditors: amounts falling due after one year Net assets 3,506 2,579 Charity Funds Unrestricted funds Rcstricted funds 1,497 2,009 30 2,549 3,506 2,579 Tlie Directors are satisfied tliat tlie Coiiipciny is eiititled to exeiiiptioii froin tlie provisioiis of tlie Cotnpciiiies Act 2006 (tlie Act) i-clatiiig to tlic aiidit of the fiiiilllclcql st