COMPANY REGISTRATION NUMBER: N1609218 CHARITY REGISTRATION NUMBER: NIC100781 Rowallane Community Hub Company Limited by Guarantee Unaudited Financial Statements 30 September 2023
Rowallane Community Hub Company Limited by Guarantee Financial Statements Year ended 30 September 2023 Page Trustees, annual report (incorporating the director's report) Independent examinerfs report to the trustees Statement of financial activities (including income and expenditure account) Statement of financial position Notes to the financial statements
Page I Rowallane Community Hub Company Limited by Guarantee Trustees. Annual Report (Incorporating the Director's Report) Year ended 30 September 2023 The trustees, who are also the directors for the purposes of company law. present their report and the unaudited financial statements of the charity for the year ended 30 September 2023. Reference and administrative details Registered charity name Rowallane Community Hub Charity registration number NIC100781 Company registration number N1609218 Principal office and registered 35 Main Street office Saintfield Ballynahinch Co. Down BT24 7AB Northern Ireland The trustees Mr B J Graham MrA T Bland Mr A Wilkinson Mrs P M Ashby Drlwmack Mrs S E Welsh Company secretary Mr B J Graham Independent examiner Ms Elaine Mulholland 2161218 Holywood Road Belfast BT41PD Structure, governance and management The organisation is a charitable company, limited by guarantee and incorporated on 27 September 2011. The company is governed under its Articles of Association and in the event of the company being wound up members would be required to contribute an amount not exceeding £1.
Page 2 Rowallane Community Hub Company Limited by Guarantee Trustees. Annual Report (Incorporating the Director's Report) (continued) Year ended 30 September 2023 Objectives and activities The objects of Rowallane Community Hub are to promote the benefit of the inhabitants of the Rowallane area and it environs to= provide facilities in the interests of social welfare for recreation and other leisure time occupation with the object of improving the conditions of life for the inhabitants of the area of benefit. advance community development in the area of benefit and in particular the promotion of the community and voluntary sector for the benefit of the public by providing support and facilities to community and voluntary groups" promote education and training by: (i)providing facilities and equipment for the educational courses and programmes" (ii)promoting knowledge and education in good gardening principles and the protection of the natural environment and encouraging participation in horticultural and gardening activities- promote good community relations. The Charity complies with the duty to have regard to the Commission's Public Benefit requirement statutory guidance= In setting the objectives and planning the activities for the year the trustees have given careful consideration to the Charity Commission for Northern Ireland's guidance on public benefit to ensure that the activities have helped to achieve the charity's purposes and provide a benefit to the beneficiaries. Achievements and performance Rowallane Community Hub was officially opened on 31 March 2015 having undertaken the substantial project of developing 2 derelict barns and a yard to create a modern, aCSsible, multi-use space available to all members of Saintfield and neighbouring communities. Development costs have included the creation of a community hall and community allotments. During the year the charity has continued to develop its facilities with assistance of grants including from DAERA and Awards for All. Financial review During the year Rowallane Community Hub received grants towards the project to the value of £10,095 (2022 £nil), and generated other income from its facilities of £17,638 (2022 £11,458). This resulted in an overall surplus of £12.368 for the year.
Rowallane Community Hub Company Limited by Guarantee Trustees, Annual Report (Incorporating the Director's Report) (continued) Year ended 30 September 2023 Responslbllities of the trustees Page 3 The trustees (who are also the directors of Rowallane Community Hub for the purposes of Company law) a responsible for preparing the Tnjstees Annual Report and the financial ststements in accordan wtth applicabte law and regulations. Company law requires the trustees to prepare financial statements for each financt81 year. Under that law the trustees have elected to prepare the financial statements in accordan with Unit2d Ktngdom Generally Accepted Accounting practi (United Kingdom Accounting Standards and applicable law). Under company law the tsustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and the Income and expenditure of the Charitale company for that period. In preparing these financial stslements, the trustees are required to: . select suitable accounting policies and then apply them consistenvy; ' observe the methods and principles in the Charities SORP: ' 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 the financial statements,. prepare the financial statements on the going nCern basis unless it ss inappropriate to presume that the charitable company will continue in OpeNlOn. The trustees are responsible for keeping adequate accourrting records that are sufficient to show and explain the charFtable company's transactions and disdose w¢th reasonable accuracy at any time the financial position of the charitable company and enabl8 them to ensu that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hencè for taking reasonable steps for the prevention and detection of fraud and other irregularities. Small company provisions This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption. The trustees, annual Teport was approved on 19 June 2024 and signed on behalf of the board of trustees by: Mr B J Graham Trustee
Page 4 Rowallane Community Hub Company Limited by Guarantee Independent Examiner's Report to the Trustees of Rowallane Community Hub Year ended 30 September 2023 I report to the trustees on my examination of the financial statements of Rowallane Community Hub {'the charity,) for the year ended 30 September 2023. Responsibilities and basis of report As the trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the financial ststements in accordance with the requirements of Charities Act {Northem Ireland) 2008 (the '2008 Act.) and the Companies Act 2006 ('the 2006 Act,). You are satisfied that the accounts of the company are not required by charity or company law to be audited and have chosen instead to have an independent examination. Having satisfied myself that the accounts of the company 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 the charity's financial statements as carried out under section 65 of the 2008 Act. In carrying out my examination I have followed the general Directions given by the Charity Commission for Northern Ireland under section 65(9)(b) of the 2008 Act. Independent examinerfs statement I have completed my examination. I confirm that no matters have come to my attention in connection with my examination giving me cause to believe that in any material respect.. accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act" or the financial statements do not accord with those records" or the financial statements 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 fairf view which is not a matter considered as part of an independent examination" or the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by 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 confirm that there are no other matters to which your attention should be drawn to enable a proper understanding of the accounts to be reached. Ms Elaine Mulholland 5ndependent Examiner 2161218 Holywood Road Belfast BT41PD
Page 5 Rowallane Community Hub Company Limited by Guarantee Statement of Financial Activities {including income and expenditure account) Year ended 30 September 2023 2023 Restricted funds Total funds Total funds 2022 Unrestricted funds Note Income and endowments Donations and legacies Charitable activities Other income 615 19,566 6,607 615 20,511 6,607 27,733 593 5,997 4,868 11,458 945 Total income 26,788 Expenditure Expenditure on charitsble activities Total expenditure 14,420 945 15,365 11,843 14,420 945 15.365 11,843 Net incomel(expenditure) and net movement in funds 12,368 12,368 (385) Reconciliation of funds Total funds brought forward Total funds carried forward (19,453) (7,085) 284,883 265,430 277.798 265,815 265,430 284,883 The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. The notes on pages 7 to 12 forni part of these financial statements.
Rowallane Community Hub Company Limited by Guarantee Statement of Financial Position Page 6 30 September 2023 2023 2022 Nots Fixed assets Tangible fixed assets 12 391,440 391,440 Current assets Cash at bank and In hand 20,898 9,222 9.222 Net current assets 20,898 412.338 Totsl assets less current liabilities 400.662 Credilors: amounts falling due after more than .one year Net assets 13 134.540 135,232 2TI.798 265.430 Funds of the charity Restricted funds Unrestricted funds 284,883 (7,085) 277,798 284,883 (19,453) 265,430 Total chan'ty fvnds 14 For the year ending 30 September 2023 the charity was entitled to exemption from audit undèr sèction 477 of the Companies Act 2006 relating to small companies. Directors, responslbilities: The members have not required the company to obtain an audit of its financial ststements for the year in question in accordance with section 476; The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements. These financial statements haye been prepared in accordance with the provisions applicable to companies subject to the small wmpanies. regime. These financial statements were approved by the ljoard of trustees and authorised for issue on 19 June 2024. and are signed on behalf of the tjoard by: Mr B J Graham Trustee The notes on pages 7 to 12 forni part of theso financlal $tst•ments.
Page 7 Rowallane Community Hub Company Limitsd by Guarantee Notes to the Financial Statements Year ended 30 September 2023 General information The charity is a public benefit entity and a private company limited by guarantee, registered in Northern Ireland and a registered charity in Northern Ireland. The address of the registered office is 35 Main Street, Sainffield, Ballynahinch, Co. Down. BT24 7AB, Northern Ireland. Statement of compliance These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland,, the Statement of Recommended Practi applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Charities SORP (FRS 102)) and the Companies Act 2006. Accounting policies Basis of preparation The financial ststements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure. The financial statements are prepared in sterling, which is the functional currency of the entity- Going concern There are no material uncertainties about the charity's ability to continue. Disclosure exemptions The entity satisfies the criteria of being a qualrfying entity as defined in FRS 102. As such, advantage has been taken of the following disclosure exemptions available under paragraph 1.12 of FRS 102.. (a) No cash flow statement has been presented for the company. (b) Disclosures in respect of financial instruments have not been presented. Judgements and key sources of estimatjon uncertainty The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the cirCumstans. Fund accounting Unrestricted fvnds are available for use at the discretion of the trustees to further any of the charity's purposes. Designated funds are unrestricted funds eamiarked by the trustees for particular future project or commitment. Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of I0 sub-classes: restricted income funds or endowment funds.
Page 8 Rowallane Community Hub Company Limitsd by Guarantee Notes to the Financial Statements (Continued) Year ended 30 September 2023 Accounting policies (continued) Incoming resources All incoming resources are included in the statement of financial activities when entitlement has passed to the charity. it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income.. income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably. legacy income is recognised when reIpt is probable and entitlement is established. income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably. in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and ServIS are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers. income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted. Resources expended Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates: expenditure on raising funds includes the costs of all fundraising activities, events. non-charitable trading activities, and the sale of donated goods. expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the govemance of the charity apportioned to charitable activities. other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities. All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated diredly to that activity. Shared costs are apportioned beeen the activities they contribute to on a reasonable, justifiable and consistent basis. Tangible assets All fixed assets are initially recorded at cost.
Page 9 Rowallane Community Hub Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 30 September 2023 Accounting policies fcontinued) Depreciation Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows.. Office equipment 20 % straight line Impairment of fixed assets A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is. from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the charity are assigned to those units. Limited by guarantee The company is limited by guarantee and has no issued or authorised share capital. Donations and legacies Unrestricted Total Funds Unrestricted Total Funds Funds 2023 Funds 2022 Donations Donations 615 615 593 593 Charitable activities Unrestricted Funds Restricted Total Funds Funds 2023 Voluntary Income Grant Income - DAERA Grant Income- Awards for All 10,416 10.416 945 9,150 945 9,150 19,566 945 20,511
Page 10 Rowallane Community Hub Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 30 September 2023 Charitable activities (continued) Unrestricted Funds Restricted Total Funds Funds 2022 Voluntary Income Grant Income - DAERA Grant Income - Awards for All 5,997 5,997 5,997 5,997 other income Unrestricted Total Funds Unrestricted Total Funds Funds 2023 Funds 2022 Rental Income Other income type 2 5,400 1,207 5,400 1,207 4,225 643 4,225 643 6,607 6,607 4,868 4,868 Expenditure on charitable activities by fund type Unrestricted Funds Restricted Total Funds Funds 2023 Support costs 14,420 945 15.365 Unrestricted Funds Restricted Total Funds Funds 2022 Support costs 11,843 11.843 Expenditure on charitable activities by activity type Totsl funds 2023 Total fijnd 2022 Support costs Governan costs 15,365 15,365 11,843 10. Independent examination fees 2023 2022 Fees payable to the independent examiner for. Independent examination of the financial statements 522 500 11. Trustee remuneration and expenses No trustees reiVed remuneration or other benefits through employment of the charity.
Page 11 Rowallane Community Hub Company Limited by Guarantee Notes to the Financial Statements (contlnued) Year ended 30 September 2023 12. Tangible fixed assets Fixtures and fittings Land and buildings Total Cost At 1 October 2022 and 30 September 2023 Depreciation At 1 October 2022 and 30 September 2023 Carrying amount At 30 September 2023 At 30 September 2022 4.871 391,440 396,311 4,871 4,871 391,440 391,440 391,440 391,440 13. Creditors: amounts falling due after more than one year 2023 2022 other creditors 134,540 135,232 14. Anatysis of charitable funds Unrestricted funds At l October 202 At 30 Septembe r 2023 Income Expenditure Unrestricted Fund (19,453) 26.788 (14,420) (7,085) At 1 October 202 At 30 September 2022 Income Expenditure Unrestricted Fund (19.068) 11,458 (11,843) (19,453) Restricted funds At l October 202 At 30 Septembe r 2023 Income Expenditure Restricted Fund 284,883 945 (945) 284,883 At l October 202 At 30 September 2022 Income Expenditure Restricted Fund 284,883 284,883
Page 12 Rowallane Community Hub Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 30 September 2023 15. Analysis of net assets between funds Unrestricted Funds Restricted Total Funds Funds 2023 Tangible fixed assets Current assets Creditors less than 1 year Net assets 391,440 391,440 20,898 20,898 (27.983) (106,557) (134,540 (7,085) 284,883 277,798 Unrestricted Funds Restricted Total Funds Funds 2022 Tangible fixed assets Current assets Creditors less than 1 year Net assets 391,440 391,440 9,222 9,222 (28,675) (106.557) (135.232) (19,453) 284,883 265,430