TOBERMORE COMMUNITY PROJECTS STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2023 Restricted Unrestrlctsd funds funds Totsl 2023 31 March 2022 Notes Incomlng resources Incoming resources from generated funds 18,288 3,221 21,487 4,990 Incoming resources from charitsble activltles 5.500 5,500 3,500 Total Incomlng re8ourco8 23,766 3,221 26,987 8,490 Resources axpendad Costs of generating fund8 Charitable activities Govemance costs 27,531 3,666 695 31,198 695 12,078 860 Total resources expended 27,531 4,361 31,893 12,736 Net Incomlngl{outgolng) resources (3,765) (1,141) (4,906) (4,246) Not movement In funds (3,765) (1,141) (4,908) (4,248) Totsl funds brought forward at 1 Aprll 2022 31,185 1,185 32,350 36,596 Total fund8 carrled forward at 31 March 2023 27,400 27,444 32,350 The statement of financial activitieg has been prepared on the basls that all operatlons are continulng operatlon8. There are no recognised gains and losses other than those passing through the statement of financial activities.
TOBERMORE COMMUNITY PROJECTS BALANCE SHEET ASAT31 MARCH 2023 2023 2022 Notes Flxed assets Tangible assets 24,042 25,891 Current assets Cash at bank and In hand Credltors: amounts falllng due wlthln one year 4.727 7,719 (1,325) (1,280) Net current assets 3,402 6.459 Total a88ets1888 Current Ilabllltles 27,444 32,350 Fund8 Unrnstrlcted funds General reserves 1,185 Restrlcted funds 27,400 31,165 Total charlty fund8 27,444 32,350 The financlal statements were approved by the commlttee on 29 January 2024 Mr B Johnston On behalf of the commlttee
TOBERMORE COMMUNITY PROJECTS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 Accountlng pollcles 1.1 General Infomiatlon Tobermore Community Projects Is a registered charity in Northem Ireland and is unincorporated. The address of the principal office is 6 Desertmartin Road, Tobermore, Co Londonderry, BT45 5QY. 1.2 Accountlng conventlon Th8 financial statements have been prepared in 8ccordance with Accounting and Reporting by Charities= Statement of Recommended Practice applicable to charities preparing their 8ccounts in accordance with the Flnancial Reporting Standard appllcable In the UK and Republic of Ireland (FRS 102) effective 1 January 2015) - (Charities SORP (FRS 102)), the Flnanclal Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the CharitiesAct (Northem Ireland) 2008. Tobermore Community Projects meet the definitlon of a public benefit entity under FRS 102. Assets and 118bilities are inltlally recognised at historical cost and transaction value unl8SS Otherwise stated in the relevant accountsncy pollcy note(s). The financlal statements are prepared on a going concern b8SIS. The financial statements are prepared in sterling, which Is the functlonal currency of the charlty. Monetary amounts In these financial statements are rounded to the nearest £. The financial statements have been prepared under the historlcal cost conventlon , modified to Indude the revaluation of freehold properties and to include investment properties and certain financial instruments at falr value. The princlpal accounting policies adopted are set out bel¢)W. 1.3 Golng concern At the tlme of approvlng the financlal statements, the commitee has a a reasonable expectstlon that the company has adequate re80urces to continue In operatlonal exlstence for the foreseeable future. Thus tha commltee conlnue to adopt the going concem basis of accounting In preparlng the financial statements. 1A Fund accountlng Unrestricted funds ar& available for use at the discretion of the directors in furtherance of the general objectives of the charity. Restricted funds are subjected to restrictions on thelr expenditure imposed by the provider of the funds. 1.5 Incomlng resources All incoming resources are included in the statement of financlal activitles when the charity is entitled to the income and the amount can be quantified wlth reasonable accuracy. The following 8p8cific pollcies are applied to particular categories of income.. Voluntary income is recelved by way of grants, donations and gifts and is included In full in the statement of financial activities when receivable. Grants, where entitlement is not conditlonal on the delivery of a specific performance by the charity, are recognised when the charity become8 unconditionally entitled to the grant. Donated senlices and facllities are included where this can be quantified. The value of services provided by volunteers has not been induded in these financial ststements. Investment income is induded when receivable. Incoming resources from charitable trading activity are accounted for when earned. - Incoming resources from grants, where related to performan and specific deliverables, are accounted for as the charity eams the right to consideration by its perfomiance.
TOBERMORE COMMUNITY PROJECTS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Accountlng pollcies (Contlnued) 1.6 Resources expended Expenditure is recognised on an accrual basis as a liability is incurred. Expendlture Indudgs any VAT which cannot be fully recovered, and Is reported as part of the expendlture to whlch tt relates.. Costs of generating funds compr15e the costs associated with attracting voluntary income and the costs of trading for fundraising purposes. Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such actlvities and those costs of an indirect nature necessary to support them. Governance costs include those costs assoclated th meetlng the constitutlonal and statutory requirements of the charity and include the audit fees and costs linked to the strategic management of the charlty. - All costs are allocated beeen the expendlture categorles of th8 Statement of financial activities on a basts to reflect the use of the resource. 1.7 Tanglble flxed assets Tangible fixed assets are Inltially measured at C08t and subsequently measured at cost or valuation, net of depreciation and any impairment10sses. Depreclatlon Is recognl$ed so as to write off the cost or valuatlon of assets less thelr resldual values over thelr useful Ilves on the following base8: War memorial 5% stralght line 1.8 Cash and c88h equlvalents Cash at bank and In hand are basic financial assets and indude cash in hand, deposits held at call with banks, other short-tem liquid investments wth original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. 1.9 Flnanclal Instruments The charity has elected to apply the provisions of Section 11 'Basic Financial Instruments, and Sectlon 12 'Other Financial Instruments Issues, of FRS 102 to 851 of its financial instruments. Flnancial instruments are recognised In the charity's balance sheet when the charity becomes paty to the ntractual provisions of the instrument. Flnanclal ass8ts and liabilities are offset, th the net amounts presented In the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a nat basis or to realise the asset and settle the liability simultaneously. 1.10 Baslc flnanclal assets Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as re1vable within one year are not amortised.
TOBERMORE COMMUNITY PROJECTS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Accountlng pollcles (Contlnued) 1.11 Classlflcatlon of Ilnanclal Ilabllltles Finanrial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equty instrument is any contract that evidences a residual interest in the assets of the company after deductlng all of its liabilities. 1.12 Baslc flnanclal Ilabllltles Basic financial liabilities, includlng creditors, bank loans, are initially recognlsed at tr8n8action price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of Interest. Flnanclal Ilabillties classified as payable within one year are not amortised. Debt instruments are 8ub8equently carried at amortised cost, using the effective interest rate method. Trade cedltors are obligations to pay for goods or servlces that have been acquired in the ordinary course of business from suppllers. Amounts payable are classlfied as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilitles. Trade creditors are recognised initially at transaction prlce and subsequently measured at amortlsed cost using the effective interest method 1.13 Governmant grants Capital grants are credited to deferred revenue. Grants towards c8pIt81 expendlture are released to the profit and loss account over the expected useful lif8 of the assets. Grants towards revenue expendlture are released to the profit and loss account as the related expenditure is incurred. Judgements and key sources of estlmatlon uncertalnty In the application of the charity's accounting policies, the committee are requlred to make judgements, estlmates and assumptlons about the carrying amount of assets and liabllltle8 that are not readily apparent from other sources. The estimates and associated assumptions are based on hlstorical experfence and other factors that are consldered to be relevant. Actu81 results may differ from these estimates. The estlmates and underlying assumptlons are reviewed on an ongoing basls. Revlslons to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. Operatlng 1088 2023 2022 Operating loss Is stated after charging.. Depreclation of tsngible assets Auditors, remuneration (includlng expenses and benefits In kind) 1.849 695 1,849 660
TOBERMORE COMMUNITY PROJECTS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Tanglble flxed assets War Momorlal Total 2020 Cost At 1 April 2022 & at 31 March 2023 36,988 36,988 Depreclatlon At 1 April 2022 Charge for the year 11,097 1,849 11,097 1,849 At 31 March 2023 12,946 12,946 Net book value At 31 March 2023 24,042 24,042 At 31 March 2022 25,891 25,891 Credltorn: amounts falllng due wlthln one year 2023 2022 Other creditors 1,325 1,260 11 Movements In funds Openlng balanrA Incomlng Resources resources expended Closlng balance Unrestrlctsd funds General funds 3,997 1,250 (6,248) 1,001 Restrlcted funds 28,353 28,560 (4,360) 50,552 32,350 27,810 (10,609) 49,551 10-
TOBERMORE COMMUNITY PROJECTS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 12 Analy813 of net assets between fund5 Restrfcted Unrestrlcted funds funds Total funds Fund balances at 31 March 2022 are represented by: Fixed assets Debtors Cash at bank and in hand Creditors.. amounts falling due within one year Capltal grants 24,042 24,042 4,719 4,727 (1,325) (1,325) 28,761 (1,317) 27,444 Related party relatlonshlps and transactlons Trusteeg, remuneratlon and expenses During the year ended 31 March 2023, no Trustees received any remuneratlon or other benefits (2023 - NII). During the year ended 31 March 2023, no Trustee expenses have been incurred. (2023- Nil). 11
TOBERMORE COMMUNITY PROJECTS DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2023 Restrlcted Unrestrfctod Funds Funds Total 2023 2022 Incomlng resources Incomlng resources from generated funds Donations Fundraising and Grants Sperrin Cultural Awareness Nl Alternatives Rent receivable 17,500 2,090 111 19,590 111 427 339 1,020 3,630 200 450 427 339 1,020 710 Totsl Incomlng rosources from genarated funds 18,266 3,221 21.487 4,990 Incomlng resourcas from charltsble actlvltlos Mid Ulster Distrlct Council 5,500 5,500 3,500 Total Incomlng resources Charltable actlvltles 5,500 5,500 3,500 Total Incomlng resources 23,768 3,221 28,987 8,490 Resources expended Charltable actlvltles Support costs Rates Insurance Light and heat Repairs and maintenance Community projects Christmas expenses Advertising Bank charges Sundry expenses Depreciation 633 508 1,230 633 665 1,512 1,616 18,909 4,893 228 772 366 548 3,614 4,224 80 62 157 282 1,616 18,650 4,000 259 893 89 54 89 1,032 1,849 978 1.849 1,849 27,531 3,666 695 31,198 695 16,978 660 Gov•rnance costs (Page 16) Total resourcos expended Net Incomlngl(outgolng) resources 27,531 (3,765) 4,361 (1.141) 31,893 (4,906) 17,638 (26,128) 12-
TOBERMORE COMMUNITY PROJECTS SCHEDULE OF GOVERNANCE COSTS FOR THE YEAR ENDED 31 MARCH 2023 Restrlcted Unrestrlcted Funds Funds Totsl 2023 2022 Governance co3ts Audit fees 620 695 660 620 695 660 13-