Charity registration number NIC101042 Company registrdtion number N1048888 (Northem Ireland} FAUGHANVALE COMMUNrrY PROJECT LIMITED ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2D24
FAUGHANVALE COMMUNITY PROJECT LIMITED CONTENTS Page Charity Information Trustees. report Independent examinerfs report Statement of financial activities Balance sheet 10 Noles to the financial statements
FAUGHANVALE COMMUNITY PROJECT LIMITED LEGAL AND ADMINISTRATIVE INFORMATION Trustees M Moore M Watson Rev N McDennott R Logue Rev J L Blair Rev D P Hoey Secretsry M Watson Charity number NIC101042 Company number N1048888 Registered office Unit 11 16 Vale Centre Clooney Road Greysteel Londonderry BT47 3GE Independent examiner Moore (Nl) LLP 21123 Clarendon Streel Londonderry BT48 7EP Bankers Danske Bank 27 Glenshane Road Attnagetwn Londonderry BT47 2LN
FAUGHANVALE COMMUNITY PROJECT LIMITED TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 MARCH 2024 The trustees presenl their report and accounts for the year ended 31 March 2024. The Trust is a charitable ompany limited by guarantee and accepted as a charity by HM Revenue and Customs under reference X042994. The financial statements have been prepared in ac¢ordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document. the Companies Act 2006 and "Accounting and Reporting by Charities.. Slatement 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 1021 (as amended by "Amendments lo FRS 102 - Triennial Review Incremenlal improvemenls and clarifications" for accounting periods commenung from 1 January 2019)" Objectives and activities The charity's objects are to promole the benefil of the inhabitants of Faughanvale and its surrounding areas, to provide day care to the elderty, young physically disabled. people with learning disabilities and mental health problems, as well as recrealion and leisure facilities in the interests of social welfare and education and Ihere has been no change in these during the year. The Gharities main activities are day care and Moving On Pro9rammes. The weekly activiti0$ in the day centrè are essential skills - En91ish, Maths. educational. work experience, inlroduction to business activities, arts and crafts, cookery, drama workshops. environmental programmes, leisure activities and outings to places of inlerest. The charity also provides freshly made meals to all the Ljsers of the service. Public Benefit The objectivcs of the Trust are as listed abov•. The Trust has considered the UK C.hArity Commission's guidanrE on public benefit and plans to ensure that il provides public benefit and achieves its objectives as Set out in the Trust's Mernorandum and Articles of Association. The direct benefits lo the individuals using the service include.. The promotion of social interaclion and combating loneliness- Creating a sense of belonging., Stimulaling the development of individuality and choice., and Supporting and dèveloping essenlial life skills encouraging independence. The Irustees give careful consideration to accessibility for all without discrimination on grounds of politics, religion. race, sexual origination, social or economic bad(ground. The Trustees have also taken cognisance of the UK Charity Commission's Guidance on Public Benefit and plans to ensure that this is achieved within our objectives as set out in the Trust's Memorandum and Articles of Association. To further this, Faughanvale Community Project has extended its range of contact and invitation to the wider EglinlonlGreysteel community lo engage in FCP activities, entertainment, in-house training for our staff and service users and work experien. This is increasingly being taken up and benefits the wider community and service users in terms of wider social integration beyond the cenlre and fafflily. The nature of such involvement includes-. Educational programmes Music and drama Arts and crafts Sports activities Diversional activities Planned outings The public benefit sought is attained through working in partnèrship wth various statulory and educalional bodies, social enterprises, voluntary agencieslgroups, businesses and schools.
FAUGHANVALE COMMUNITY PROJECT LIMITED TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 The statutory, Educational, Training bodies and agenaes include: Western Health and Social Care Trust-, Regulation and Quality ImprovementAgency (RQIA)., Police servi of Northem Ireland (PSNI)- Northem Ireland Social Care Council" North West Regional College." Mark Mcchrystal Training Consultancy,. MTA Training Services. Social Enterprises with which we share many objectrves hen exchange ideas and opportunities to benefit service users and the wider community indude, hence public benefit: Greysteel Enterprise (the Vale Centre). Greysteel Community Assoaation" Eglinton Community Association. Eglinton. Voluntary AgeneS and organisalions visit and interact with our serv1 users. participating and volunteering in our planned activities throughout the year. for Éxamplp... Women's Institute. Eglinton., St Vincent do Paul; Presbyterian Women's Association (PWA)- Motherfs Union.. Men's Shed. Eglinton. Businesses provide work experience for our Moving On Programme. They also participate in planned adivtties including our 'out of hours, entertainments such as Easter, Halloween and Christmas. The businesses are.. Nicholl Fuel Oils,. Nicholl Supermarket,- Braidwater Enterprises., Hogg & Mtlchell Enterprises., W J O'Brien & Son, Funeral Directors,. Alec Orr Motors. The opportunity for work experience support5 public benefft. The Se users are IneasinglY contributing within the communty through their increased involvement with the above and the training opportunities available in FCP thus lending to the public benefit. Achievements and perfonnance During the financlal year to 31 March 2024 Faughanvale Community Project continued to achieve its objective to provide day care to the elderly and disabled. The centre was able to provide care 3 days per week to a number young disabled persons, people with leaming difficulties and the Elderty. Faughanvale Communty Project also provided meals on wheets throughout the full year, servrcing 40 people per day, 4 days per wèek. A luncheon club was held one day per week when up to 10 people from the lotsl community join our servi users for lunch and entertainment. Financial review The resutts for the year are set out on page 7. Total incoming resources for the year were £169,616 (2023 £164,266) of which 860A was generated from Westem Trust contracts. Total reSoUrS expended were £177,540 (2023 - £184.818) of which 100.kn was expended on direct charitable activities. The balance of total fvnds at the year end was £210.216 of which £109,932 was unrestricted, £2,679 was restricted and £97.605 was designated in nature. Reserves policy 11 is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to behveen three and six month's expendrture. The trustees considers that reserves at this level will ensure that. in the evenl of a significant drop in funding, they will be able to continue the charity's current activities while consideration is given to ways in whith addttional funds may be raised. This level of reserves has been maintained throughout the year. The Trust aims to continue to increase its reserves to ensure the stsbilty of its serVis, employmenl and everyday operations of the organisation. The trustees have assessed the major rÈsks to which the charity is exposed, and are satisfied that systems are in place to mitlgate exposure to the major risks.
FAUGHANVALE COMMUNITY PROJECT LIMITED TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Structure, governance and management The charity is a company limited by guarantee and accepted as charitable by HMRC under reference X042994. The company was incorporated on 30 November 2003 and is governed by its Memorandum and Articles of Association. The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were.. M Moore M Watson Rev N McDermott R Loguè Rev J L Blair Rev D P Hoey Recruitment and appointment of Trustees The Charity Trustees are also Directors of the company. A Truslee is initially elected by the Board in accordance with the Memorandum and Articles of Association. Under thè rèquirements of thÈ Mèmorandiim and Articles of Association unless otherwise determined by the company in a General Meeting, the number of Truslees shall not be less than three. In the financial year no new Trustees were appointed and none resigned. The Board as a whole was approved by the AGM and continues to monitor its membership. None of the trustees has any beneficial interest in the company. All of the truslees are members of the company and guaranlee to contribute £1 in the event of a winding up. The Board of trustees which administers the Trust meets throughout the year as required.
FAUGHANVALE COMMUNITY PROJECT LIMITED TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Statement of trustees. responsibilities The trustees, who are a150 the directors of Faughanvale Comrnunty Project Limited for the purpose of company law, are responsible for preparing the Trustees, Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Ac¢ounling Practi>. Company Law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources. including the income and expenditure, of the charitable company for that year. In pparIng these financial ststements, the trustees are required to: select suitable a¢¢ounting polioes and then apply them rA)nsistently' - observe Ihe methods and principles in the Charities SORP: make judgements and estimates that are reasonable and prudent-, and prepare the financial statements on the going concem basis unless rt is inappropriate to presume that the Charity will continue in operation. The trustees are responsible for keeping adequate accounting records that disclose wf(h reasonable accuracy at any lime the financtal position of the charity and enable them to ensure that the financial stalements comply with the Companies Act 2006. They are also respongiblp fnr safe_guarding the assets of thè charity and henca for taking reasonable steps for the prevention and detection of fraud and other irregularities.
FAUGHANVALE COMMUNITY PROJECT LIMITED TRUSTEES, REPORT {INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 The trustees, report Was 8pproved by the Board of Trustees. M Moore Trustee Dated: 18 Dember 2024
FAUGHANVALE COMMUNITY PROJECT LIMITED INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF FAUGHANVALE COMMUNITY PROJECT LIMITED We report to the trustees on our examination of the financial ststements of Faughanvale Communty Project Limited (the charity) for the year ended 31 March 2024. Responsibilities and basis of report As the trustees of the charity (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act). Having satisfied ourselves that the financial statements of the chartty are not required lo be audited under Part 16 of the 2006 Act and are eligible for independent examination, we report in respect of our examination of the charity's financi81 statements Garried out under 5edion 65 of the Charilies AGt. Iii cariyiiiy out OUT exaTnination we have followed all the applicable Difections given by the Charty Commission for Northem Ireland under seclion 65{9)Ib) of the Charities Act. Independent examinerfs statement We have completed our examinalion. We confimi that no matters have coffle to our attention in connection with the examination giving us cause to believe that ill cllly tndteiial re5pect- accounting records were not kept in respect of the charty as required by seclion 386 of the 2006 Act", or the financial statements do nol accord with those records,. or the financial statements do not comply with the accounting requirements of section 398 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter Gonsidered as part of an independent examination- or the fl nanclal statèments have not been prepare(J in accordan with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordan with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). We have no con¢ems and have come across no other matters in nnectIOn with the examination to which attentioii blioulrj be drdwll iri this report in order to enable a proper understanding of Ihe financial statements to be reached. Moore (Nl) LLP 21123 Clarendon Street Londonderry BT48 7EP Dated: 18 December 2024
FAUGHANVALE COMMUNITY PROJECT LIMITED STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2024 Current financial year Unrestrictsd Unrestricted Restricted funds funds funds general designated 2024 2024 Total Total 2024 2024 2023 Notes Income from.. Grants and donations Charitable activities other Irading activities Investments 130,268 21,134 1,590 1,281 15.343 145,611 21,134 1,590 1,281 149,222 14,689 355 Totsl Income 154.273 15,343 169,616 164,266 Charitable activities 157,762 4,431 15,347 177,540 184,818 Net expenditure for the yearl Net movement in funds (3.489) (4,431) (4) {7,924) (20,552) Fund balances al 1 April 2023 113,419 102,036 2.683 218,138 238,690 Fund balances at 31 March 2024 109.932 97,605 2,679 210,216 218,138 The statement of financial activities indudes all gains and losses recognised in the year. The statement of financial activities includes all gains and losses recognised in the year. All income and expendilure derive from continuing activities. The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.
FAUGHANVALE COMMUNIry PROJECT LIMITED STATEMENT OF FINANCIALACTIVITIES {CONTINUED) INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2024 Prior financial year Unrestricted Unrestricted Restricted funds funds funds general [description] 2023 2023 Totsl 2023 2023 Notes Income from: Granls and donations Charitable actiMtiÈ Inveslments 125,814 14,689 355 23,408 149,222 14,689 355 Total income 140,858 23,408 164,266 enditure on: Cliciritable activities 159,513 4,580 20,725 184,818 Net expenditure for the yearl Net movement in funds (18,6551 (4.5801 2,683 120,5521 Fund balances at 1 April 2022 132.074 106.616 238.690 Fund balances at 31 March 2023 113.419 102,D36 2,683 218,138 The statement of financial activities indudes all gains and losses recognised in the year. The statement of financial activities includes all gains and losses recognised in the year. All income and expendtture derive from continuing activities. The statement of financial actiwties also complies with the requirements for an In)rne and expenditure account under the Companies Act 20C6.
FAUGHANVALE COMMUNITY PROJECT LIMITED BALANCE SHEET AS AT31 MARCH 2024 2024 2023 Notes Fixed assèts Tangible assets 13 105,992 110,450 Current assets Debtors Cash at bank and in hand 14 1,636 113.075 3,872 112,935 114,711 116,807 Creditors: amounts falling due within one year 15 110.487) (9,119) Net current assets 104,224 107,688 Totsl assets less current liabilities 210,216 218,138 Incornè funds Restricted funds unretrIcIted fund$ _ dasignatgd Unrestricted funds - general 17 18 2,679 97.605 109,932 2,683 102.036 113,419 210,216 218,138 The company is entitled to the exempiion Irom the audit requiremeni conialned In section 477 of the Compdiiieti Act 2006, for the year ended 31 March 2024. The directors acknowledge their responsibilrties for complying with the requirements of the Companies Acl 2006 with respe¢l to accounting records and Ihe preparation of financial statements. The members have not required Ihe company to obtain an audii of its finanual statements for the year in question in accordance with section 476. These financial statements have been prepared in accordan with the provisions applicable to companies subject to the small companies regime. The financial statements were approved by the Trustees on 18 Dember 2024 M Moore Trustee Company registration number N1048888 10-
FAUGHANVALE COMMUNITY PROJECT LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies Charity information Faughanvale Communty Project Limtted is a private company limited by guarantee in¢orporated in Northem Ireland. The registere(J office is Unit 11- 16 Vale Centre, Clooney Road, Greysteel, Londonderry, BT47 3GE. 1.1 Accounting convention The financial statements have been prepared in accordan wtth the charity's governing document, the Companies Act 2006, FRS 102 "The Finanaal Reporting Standard applicable in the UK and Republic of Ireland. (°FRS 102? and the Chartties SORP 'Accounting and Reporting by Charities.. Statement of ReLoiTiiwiended Practi appIlble to chartlles preparing Iheir accounts In accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019). The charity is a Public Benefit Entity as defined by FRS 102. The chartty has tsken advantage of the provisions in the SORP for charities not to prepare a Stslement of Cash Flow5. The finan¢ial statements are prepared in steding, which is the fundional currency of the ¢harty. Monetary amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below. 1.2 Going concern At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational exislence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements. 1.3 Chantable funds Unrestricted fvnds are available for use at the discretion of the trustees in fvrtherance of their charitable objectives. Designated funds comprise funds whith have been set aside at the discretion of the Trustees for specific purposes. Restricted funds are subject to specnlc conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements. 1.4 Income Income is recognised when the chartty is legally entitled to rt after any perfomance condrtions have been met, the amounts can be measured reliably. and it is probable that income will be received. Cash donations are recognised on receipt. Other donalions are recognised once the charity has been notified of the donation, unless performanrE conditions require deferral of the amount. Income tax recoverable in relation to donations reiVed under Gifi Aid or deeds of covenant is recognised at the time of the donation. Investment income represents bank interest re1vable during the year. Incoming resources from charitable activities consists of income generated from day ntre activities held at the centre during the year. 1.5 Expenditure Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, rt is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure on charilable activities indudes the costs of seNices undertaken to further the purposes of the charity and their associated support costs. 11
FAUGHANVALE COMMUNITY PROJECT LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies (Continued) 1.6 Tangible fixed assets Tangible fixed assets are inilially measured at ¢ost and subsequently measured at Cost or valuation, nel of depreciation and any impairment losses. Depreciation is recognised so as to Vrte off the cost or valuation of assets less their residual values over their useful lives on the following bases.. Freehold land and buildings Fixture3 and fittings Motor vehicles 2OA straight line 1 OOA gtraight linè 250A reducing balance The gain or loss arising on the disposal of an asset is determined as the difference beeefi the sale proceed$ and the carrying value of the assel, and is recognised in the statemenl of finanGial activities. 1.7 Impaimient of fixed assets At each reporting end date, the Charity reviews the carrying amounts of its tangible assets to determine whether there is any indication thal those assets have suffered an impairmenl loss. If any such indication exists, the recoverable amount of the asset is eslimated in order to determine the exlent of the impairment Ios5 (if any). 1.8 Cash and cash equivalents Cash and cash equivalents indude cash in hand, deposits held at call with banks, other short-term liquid investments wilh original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabililies. 1.9 Financial instruments The charity has elected to apply the provisions of Section 11 'Basic Finanaal Instruments, and Section 12 'Other Financial Instruments Issues, of FRS 102 to all of its financial instruments. Financial instruments are recognised in the charitys balan sheet when the charity becomes party to the ¢onlractual provisions of the inslrument. Financial assets and liabililies are offset, with the net amounts presented in the finanual statements, when there is a legally enforceable righl to sel off the recognised amounts and there is an intenlion to settle on a nel basis or to realise Ihe asset and settle the liability simultaneously. Basic financial assets Basic financial asset5, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequentty carried at amortised cost using the effeclive interest method unless Ihe arrangement constitute5 a financing transaction, where the transaction is measured at the present value of the future reipts discounted at a market rate of interest. Financial assets classified as receivable within one year are nol amortised. 12-
FAUGHANVALE COMMUNITY PROJECT LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies {Continuedl Basic financial liabilities Basic financial liabiltties, induding credttors and bank loans are initially recognised at transaction price unless the arrangement con51itutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Finanaal liabilities classified as payable within one year are not amortised. Debt instruments are subsequenuy carried at amortised cost, using the effective interest rate method. Trade creditors are obligalirtrn% to pay for goods or services that have been acquired in thc ordinary course of operations from suppliers. Amounts payable are dassified as cuent liabiltties rf payment is due within one year or less. If nol, they are presented as non-current liabilities. Trade credilors are recognised initially at transaction pri and subsequentty measured at amortised cost using the effective interest method. Derecognition of financial liabilities Financial liabilities arÈ dp_rp_cJ)gnised when tho charitys contractual obligations expire or are di8charged or cancelled. 1.10 Taxation The company is a charity and is recognised as such by HM Revenue & Customs under the charity tax reference X04994. As a result. therè is no liabilty to taxation on any of its income. 1.11 Employee benefits The cost of any unused holiday entrtlement is recognised in the period in which the employee's services are received. Termination beneffts are COgniSed immediatety as an expense when the charity is demonstrably committed to terminatè the employmant of an èmployee or to promde termination benefits. 1.12 Retirement benefits Payments to defined contribution retirement benefrt schemes are charged as an expense as they fall due. Critical accounting estimates and judgements In the application of the charitys accounting policies, the trustees are required to make judgements, estimates and assumptions about the carying amount of assets and liabiltties that are not readily apparent from other sources. The estimates and assoualed assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underfying assumptions a reviewed on an ongoing basis. Revisions lo 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. Grants and donations Unrestricted Restricted funds funds general 2024 Total Unrestricted funds general 2023 Restricted funds Total 2024 2024 2023 2023 Grants recervable 130,268 15,343 145,611 125,814 23,408 149,222 13-
FAUGHANVALE COMMUNITY PROJECT LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Grants and donations (Continued) Grants receivable for core activities Western Trust Contract Other 130,268 15,043 300 145,311 300 125,814 14,529 8,879 140,343 8,879 130.268 IS,343 145,611 125.814 23.408 149,222 Income from Gharitable activities Unrestricted Unrestricted funds funds 2024 2023 Day Centre Income 21,134 14,689 Other trading a¢tiviti•È Unrestricted Unrestricted funds funds general general 2024 2023 Fundraising events 1,S90 Income from investments Unrestricted Unrestricted funds funds 2024 2023 Interest receivable 1,281 355 14-
FAUGHANVALE COMMUNITY PROJECT LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Expenditure on charitable activities Charitsble Charitsble Expenditure Expenditure 2024 2023 DTrect costs Staff costs Depreciation and impairment Day centre food & con5umablc5 Craft & workshop costs Staff training Minibus running costs 94,895 4,459 18,767 38 910 5,852 96,821 4,618 18,074 3,131 2,680 12,588 124.911 137,912 Share of support and governance costs (see note 8) Support Govemance 47,369 5,260 44,506 2,400 177.540 184.818 Analysis by fund Unrestricted funds Unrestricted funds - designated Restricted funds 157,762 4.431 15,347 159,513 4,580 20,725 177,540 184,818 15-
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FAUGHANVALE COMMUNI PROJECT LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Net movement in funds 2024 2023 The net movement in fvnds is stated after chargingl(crediting)= Fees payable for the independent examination of the ¢hariVs financial statements Depreciation of owned tsngible fred assets 2,260 4,459 2,400 4.618 10 Trustees Key management are deemed to comprise the Trustees. No tnjstee or a person related to a trustee had any personal interest in any contract or transaction entered into by the chartty during the year. One of the Trustees received a remuneration for their role as the bookkeeper and administrator of all charity activities. 11 Employees The average monthty number of employees during the year was.. 2024 Number 2023 Number Employees Employment costs 2024 2023 Wages and salaries Other pension costs 90,972 3.923 92,741 4,080 94,895 96,821 There were no employees whose annual remuneration was £60,OCNJ or more. 12 Taxation The charity is exempt from taxation on its acttvities because all its income is applied for charitable purposes. 17-
FAUGHANVALE COMMUNITY PROJECT LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 13 Tangible fixed assets FrBehold l•nd Flxtures and Motor vahlcles and bulldlngs Ilttlngs Total Cost At 1 April 2023 160.851 21,626 26,885 209,362 At 31 March 2024 160,851 21.626 26,885 209,362 Depreciation and impaimient At 1 April 2023 Depreciation charged in the year 56.659 3,217 15.481 1.214 2É.771 28 98.911 4,459 At 31 March 2024 59.876 16,695 26.799 103,370 Carying amount At 31 March 2024 100,975 4,931 105,992 At 31 March 2023 104,192 6.144 114 110,450 14 Debtors 2024 2023 Amounts falling due within one year: Other debtors Prepayments and accrued income 2,240 1,632 1,636 1,636 3,872 15 Creditors: amounts falling due within one year 2024 2023 Other taxation and social securty Trade creditors Other creditors 997 6,586 2,904 1,193 4,615 3,308 10,487 9,116 16 Retirement beneflt schemes 2024 2023 Defined contribution schemes Charge to profit or loss in respect of defined contribution schemes 3,923 4,080 The charity operates a defined ¢ontribution pension scheme for all qualifying employees. The assels of Ihe scheme are held separately from those of Ihe charity in an independently administered fund. 18-
FAUGHANVALE COMMUNITY PROJECT LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 17 Restricted funds The restricted funds of the charty comprise the unexpended balanos of donations and grants held on trust subject to specific condttions by donors as to how they may be used. At 1 April 2023 Incoming resources Resources At 31 March expended 2024 2,683 15,343 (15,347) 2,679 Previous year: At 1 April 2022 Incoming resources Resources At 31 March expended 2023 23.408 (20.725) 2,683 18 Unrestricted funds - Designated These are unrestricted funds which are material to the charws activtties. At 1 April 2023 Resources At 31 March expended 2024 102,036 {4,4311 97,605 Previous year: At 1 April 2022 Resources At 31 March expended 2023 106,616 (4,580) 102,036 19 Unrestricted funds The unrestricted funds of the charity comprtse the unexpended balanS of donations and grants which are not subject to specific condttions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestrtcted funds by the tnjstees for spefic purposes. At 1 April 2023 Incoming resources Resources At 31 March expended 2024 General funds 113.419 154,273 (157,762) 109,932 19-
FAUGHANVALE COMMUNITY PROJECT LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 19 Unrestricted funds Icontinued) Previous year: At 1 April 2022 Incoming Resources At 31 March resources expended 2023 General funds 132,074 140,858 (159,513) 113,419 -20-