BRAID cOM￿￿NITy ASSOCIATION FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 CHAIUTY REG NO: I(K1677 COMPANY LIMTED BY GUARANTEE AND NOT HAVING A SHARE CAPITAL COMPANY NO: N1617382 BRAID COMMUNITY ASSOCIATION FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 CONTENTS Page Administrative details Report of the Board of Trustees Independent Examiners, Report to the Trustees Statement of Financial Activities Balance Sheet Noteg to the Financial Statements 9-12 BRAID COMMUNITY ASSOCIATION FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 ADMINISTRATIVE DETAILS Charitable company name Braid Community Association Charity reference number NIC I(M)677 Company reference number N16l7382 Registered Office 37 Longmore Road The Braid Ballymena County An(rim BT43 7JR T￿￿teeS Denise Forde Carmel McKendry Maeve Bird Mary Elizabeth Devine Moira Dobbin William Mitchell Rosaleen Mitchell Treasurer Rosaleen Mitchell Secretary Cannel McKendry Independent Examiner K Higgins FCA 9 Knockanully Road Martinstown Ballymena BT43 7LZ Bankers Sanlander Bank 131 Church Street Ballymena BT43 6DG BRAID COMMUNrrY ASSOCIATION REPORT OF THE BOARD OF TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 The Board of Trustees p￿sent their re￿)rt and financial statements of the Association for the year ended 31 March 2024. 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 statements have been prepared in accordance with the accounting policies set out in the note.s to the financial statement.s and comply with the Association's governing document, the Charities Act (Northern Ireland) 21K)8, Charities (Accounts and Reports) Regulations (Northern Ireland) 2015, and Charities SORP (FRS 102) 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). REFERENCE AND ADMINISTRATIVE DETAILS Reference and administrative details are shown in the schedule of Trustees of the Association and professional advisers on page l of the financial statements. TRUSTEES OF THE ASSOCIATION The Directors of the Association are its Trustees for the purpose of charity law. The Trustees who setved the company during the year were as follows: Denise Forde Carniel McKendry Maeve Bird Mary Elizabeth Devine Moira Dobbin William Mitchell Rosaleen Mitchell PUBLIC BENEFIT STATEMENT The directors of Braid Community ASS￿latIon confinn that they have had due regard for the guidance on Public Benefit by the Charity Commission for Northern Ireland and are pleased to report that during the period the As.%ociation continued to provide the Public Benefit.% through programmes and services we offer. In particular, the directors consider how 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 fornier Old Braid Primary Schix)l into a community cenlre. offering classes and a meeting place BRAID COMMUNITY ASSOCIATION REPORT OF THE BOARD OF TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 PUBLIC BENEFrr STATEMENT (continued) where people of all ages can get together and interact as currently there is no cross-community 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 ACTIvrrIES The principal activities of the Association ate as stated in its constitution: To promote the benefit of the inhabfttanls of the Braid Valley and district, County Antrim, without distinction of gender. sexual orientation, age, disability, race, ethnicity, or political, religious or other opinion by associating with the statutory authoritie.g. voluntary and community organisations and inhabitants in a common effort. STRUCTURE GOVERNANCE AND MANAGEMEiYr Governin Document Br(iid Community Association 18 a company limited by guarantee not having a share capital and avails of the use of 'Limited' exemption. The Company was incorporated on 19 March 2013. The Association is registered with the Nl Charity Commission as of 09 October 2014 - Charity No". i(X)677. anisational structure and related arties Responsibilities for the activitie,s of the Association is vested in and carried out by a Board of Trustees which meets at intervals throughout the period. Truslees may be appointed by resolution of a meeting of the Board of Trustees. None of the Trustees receive remuneration or other benefit from their work with the charily. Any connection between a Ttustee of the ch<￿ItY with a contracted supplier must be disclosed to the full Board in the same way as any other conlractual relationship with a related party. In the current year there are no such related party transactions to report. Recruitment a intmen 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 revftew 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 rnana ement ob"ectives and licies The Trustee.% have overall responsibility for ensuring that the Association has in place an appropriate systern of controls. financial and otherwise. The Trngtees have assessed the major risk.s 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 exposure to major risks. BRAID COMMUNrrY ASSOCIATION REPORT OF THE BOARD OF TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 (continued) ACHIEVEMENTS AND PERFORMANCE The Company is a non-profit making organisation. Total income for the year amounted to £4,722 (2023.. £6,720). Income derived from donations and legacies amounted to £nil (2023: £nil) and other income amounted to £4,722 (2023: £6,720). Total expenditure for the year amounted to £4,742 (2023: £5.794). The net income for the year amounted to (£20 (2023: £926) with net assets of £3,485 {2023: £3.506) at 31 March 2024" made up of £1.712 (2023- £1.497) unrestricted funds and £1,773 (2023: £2,009) of restricted funds. The Trustees consider that the Association is in a satlsfactory pogition to carry on its charitable activities. The Charity has succes.sfully provided a range of activities to targe( groups in (he year. The Old Braid Primary School was used throughout the year by the Koinonia John ihe Baptist group and catering for after local funeral.s Braid Community Association are graleful to the Community Fund NI and DEARA for their generous funding in 2023 - 2024. PLANS FOR FtrruRE PERIODS There are no major changes envisaged in the foreseeable future. TRUSTEES RESPONSIBILITY STATEMEI The Tru,stees (who are also the directors of Braid Community Association) for the purpo%es of company law) are responsible for preparing the Trustees. Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounling Standards (United Kingdom Generally Accepted Accounting Practice) Encluding FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland" The law applicable to charities in Northern Ireland requires the directors to prepare financial 8t