COMPANY REGISTRATION NUMBER: N1605696 CHARITY REGISTRATION NUMBER: NIC1010S4 The Resurgam Community Development Trust Llmited Company Limited by Guarantee Consolidated Financial Statements 31 March 2023 COMPANIES HOUSE 'ICJE23Q2' 2911212023 COMPANIES HOUSE 2 q DEC 2023 BELFAST JNI
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The Resurgam Communoty Development Trust Llmited Company Limited by Guarantee Financial Statements Year ended 31 March 2023 Page Trustees, annual report (incorporating the directorfs report) Independenl auditorfs report to the members Consolidated Statement of financial activities (including income and expenditure account) 11 1S Consolidated Stslernent of financial position 16 Company Statement of financial position Consolidaled Statement of cash flows 17 Notes to the financial stalements 19
Page 1 The Resurgam Community Development Trust Limited Company Limited by Guarantee Trustees. Annual Report Ilncorporating the Directorfs Report) Year ended 31 March 2023 The trustees. vtho are also the directo for the purposes of c(wnpany law, presenl theif report and the financial statements of the charily for the year ended 31 March 2023. Reference and adminlslratlve details Reglstered charlty narne The Resurgam C(Knmunty OeVeh)wn1 TNst Limited Charity registration number NIC101054 Company registratlon number N1605696 Principal and reglstered Off8 3 office Laganview Enlerprise Centre 69 Drumbeg Avenue Lisburn County Antrim BT28 1 NY Th• trustees Mrs J Casey Mr P Dean Mr C Halliday Mr G Walker Mis5 T Black Ms L Kelty Mr Matthew English Ms Brooke mo0head Mr Robert Jwr*s Carlisle Mrs Joanna JanSka Mrs P McCom)rk Mr H Moore (Appointed 10 November 2023) (Resigned 27 April 2022> (Resigned 27 April 2022> (Resigned 27 April 2022) Auditor Johnston Graham Limited Chartered accountants & statutory auditor 2161218 Holywood Road Belfast BT41PD
Pago 2 The Resurgam Community Development Trust Limited Company Limited by Guarantee Trustees. Annual Report (Incorporating the Directorfs Report) (contlnu•o) Year ended 31 March 2023 Strncture. govemanco and management Structure The Resurgam Trusfs Board of Directors ¢yrfersee the delivery of their strateg Plan. ensuring the stiuclures in place ensu accountability and delrvery of strategic themes. The Strategic Plan highlights key advisory and decision-makiNJ groups and key stakeholders who support delivery of strategic themes thal delivw outcomes and impacts wilhin community. Resurgam and are supported by established and re¢¢gnised cornmunty-based organisations and social enterprises with many years of experience workin9 in communttses throughwt the City of Lisbum. staff, volunteers and exlemal agenctes. Key strategic strtureS include: -strategic Advisory Group -senior Management SteefirJ Group roject SUGroUps -social Enterprise Think-Tank Group Governing Docurnent The Resuigarn Cmimunty Developmenl Trust (The Resurgam Trust) 1$ a company limited by guarantee. Incorpated on 101h January 2011. with Charty Cornmtssion legislalion achTeved in October 2015. The Re5urgam Trust was created under a Memorandum ol Association Ythich established the objects and powers of the charilable company and is govemed under its Articles of Association. This docunnt was revised in March 2014 and ffiled with C(xnpanies House. Recruitment and Appointrnonl ol Management Commlttee The directors a nominated from community membership and social enterp(ises lo give a cross represefttation of membership. Under the Memorandum and Articles of Association directots are elected to serve from each Annual General Meeting. Directors and management are requested to provide personal profiles to depict skills within the board with a variety of areas of interest covered, which are highlighted in the Business Plan. Training for dlrectors and members Directors and membership adhere to "Fit for Purpose" whereby all direclors and member groups sign up to induction sessions and training. Rlsk Managemenl Resur9am fdlows a policy of risk rnanagement which is deswJned to identfy, quantify. manage and then monitor those things, evenls or actions which Uld lead to a failure of a proje¢t. The Qrganisation has an intemal risk assessment prccess that inVo8S Ir continuous stages Identifation.. The F)roie¢i identifies rtsks which can be managed. QUantIfica"0n: This involves assessing the severity of the risk to pirIti.Se those it will manage Managing and responding." This invdves establishing a course of action that will address the risk. Monitoring & controlling fisk: The project ha5 a sub group which worf(s 10 identrfy athl deal wilh There is an intemal nolrfication process for dealing with problems. The full Board 1$ aws aware of serious risks io a proied.
Pag¢ 3 The Resurgam Community Development Trust Limited Company Limited by Guarantee Trustees. Annual Report (Incorporating the Dire¢torfs Report) (eOftflnu•d) Year ended 31 March 2023 Structure. governanGe and management C¢ondnuedl Related Partle5 The Resurgam Trust is a member of Devebpment Trvst Northem Ireland and vlill develop the management board Ihrough appointment of advisory roles from statutory agencies. ObJ•ctlves and actfvtttes Vislon Resurgam will connect Tndpiiduals, groups and transformed ccrnunitie5 lo create a suslainable environmenl in whth all are proud to INe. leam. play and work". Resurgam will create growth opportunities through support, capacty buikling and social economy iniiiatives to sustsin regeneration in the Greater Lisburn area through building connections arKI alliances io posrtively inlluence declsk>ns thal will affect the Communities served by the Trust and its members. Strateglc Alms To Lyeate growlh OPPthJnities to build and sustain regeneralion in the Greater Lisbum area. To build connections and alliarKes lo positNety influence decisions that will affect the c(xnmunities served by the Trust and its membefs. To enable people to experience. through the opportunities provided by the Trust and its. members, a valutrbased environment that ¢hallenges injustice and exclusion. To build effective workirvJ relationships that results in safer- peaceful mMuni11e$. Share Resurgam Trust modd and OUorkIng as besl practte to support peace. renciliation arKJ sustainabk communrties. Icoity regionally and widef. To align the wc*k of the Resurgam Trust with the needs of the ccffimunrties and rr•ber groups It represents. To ueate opptunitieS for individuals. groups and Communities to connect together to lessen their isolalion To build and revithv Trust governance arrangement to SUre that Is, mernbers have ¢)wnership and influence over the dWectI of the Trust. To ensure that the Trust operates financial rnanagement ¢trolS that resufts In transparency. accountabilty and enhances stsstainabilty. To develop and maintain an operational InfraStrlUre including a ckar sèt of p¢licies and Procedu$. to guide ils work.
Page 4 The Resurgam Communlty Development Trust Llmlted Company Limited by Guarantee Trustees. Annual Report {Incorporating the Di recto¢s Report) (¢•)ntlftu•¢ Year ended 31 March 2023 Objectlves and actlvltles (¢Mdnu•d) Strntegic Objectlves Provide support and capacity building to member groups to enhance their future sustainabilty. Enable smaller community partners to access Trust resources appropriately. Enable the Resurgam Trust to be a sell-sustaining organisation. Sel up a tnjst fund for the bertfit of communities of inferest. Develop a community education and leaming strategy to need. Provide tWOrkIng opportunities and maintain links with all stakeholder groups. Enable individuals and communities lo come together for support aThJ assistance Raise professional Standards across all servi¢es. Ensure commun¢lies of interest are represented on the Tntst Board. Fomalise and review regularfy gualty siandards in governance and operational management systems within the Resurgam Tnjst. Establish and maintain logislative compfAnce and ensure that the requirements of social justlce. equallty and diversity and ccThmunity development underpin Resurgarn Trusl policie5. practice and processes, Maintain effective relationshps with social partners and buikl new netWoS and alliances for mutual benefil. In setting our obje¢tives and planning our activities for the year, the trustees have given careful consideration to the Charty Commission for Northern Ireland's guidance on public benefil to ensure Ihat the adtvrties have helped to achieve the charity's purwses arrtl provide a benefrt lo the beneficiaries. Strateglc report The following 5e¢tions for achievements and perfomiance and financial revlew forn) the strategic report of the charrty.
Page S The Resurgam Community Development Trust Limited Company Limited by Guarantee Trustees, Annual Report (Incorporating the Directorfs Report) fconthiuodj Year ended 31 March 2023 Achievements and performance The Resurgam Trust structu$ has a 24-year history of community regeneration resulting in improved oulcomes on Ihe social deteminants of heallh. A cenlral component of the Resurgam Trust's long-term financial sustaiftability plan is a commtsnty-led hausing model, Ihe main aim of this model was ahvays to ensure that the organisation was financed in such a way that its long-term financial heallh would be sec4Jied. Resurgam have continued lo develop their model of social enterpiise and regenernlion. all govemed and monitored by their Board, Steering Group and Audit and Risk Cornmtttee th support from Lisbum Castlereagh City Council. Department for Communities (DfC} InnovatJn and Research and OIC Communty Investment Funding. To coMprnent this there is a Sustsinability Plan which has Specif actrons in temis of financial forecasting and inc<xne generation xross the Incm Spectrum. The review of operalions has been cenlfal in developing a Strategic Plan for the next fNe years and testimony to Resurgams vision is the focussed overarching strategic objectives and themes which have rna1ned common since inception in 2011. These have been reviewed. linked closer to Programme for Government {PfGI and Lisbum Castlereagh Community Plan. This is complemented by an Operational Plan which will be developed wilhin the next year at the stralegic residential. Koy Achi•vèm•nts - Mainlenar£e of Serrfo Contract SeNice5 Grounds Mainlenance with Idverde, part of a Social Clause ConlraGt. Highway Inn and Kitchen Manager. Emma Robb BEM awarded Ihe British Empire Medal for meritorious communty sep4tce. Highway Cart relocated to Laganview Enterprise Centre, following its purpose dwing COVID at Highway Inn Garden. Trauma Inforned Organisation. cascaded through projects including Lisbum SAFE. Earty Inter¥ention Lisbum and Resurgam Youth Initiatpie and HeahY Living Centre. Resurgam Reboot - Youth Initiative, Healthy Living Centre: Early Intervention Lisburn model of interventions with ytjung people to nprove mental health and wellbeirg. Sustained creation of employment for 130 people - Volunteer pool of 500 supportirig delivery of prc4ect wiihin Lisbum SAFE, Earty Intervention Lisburn and Resurgam Youth Initialive and Healthy Living Centre. - Community Academy Nl remains a key element of Resurgam's 'give-ba¢k' with knowledge Iransfer being shared within The Executive Office's Urban Village progrdmme in 8elfast and Londonderry. Hilden Mill School secured fundin9 through Lottery Heritage Grant with Lisbum Castlereagh Cty Council and Resurgam Trusl, their Development Partner, developing two So¢ial Enlerprises Tearoom and Childcare. This has been a project developed over a ten year period and Is especial significant for bcals with a historical walkway adjacent to the schwl. Eaty Intervention Li5burn have been successful in their Nalional Lottery Cornrnunty Funds appli¢ation for Emotional Mental Health and have recruiled a ¢oordinator and peer-educators. targeting youn9 people and emotional wellbeing through Connected Minds Youth Committee. Help Kids Talk received support from Lisbum Castlereagh Cty Council for a posl lo develop speech and language in a communty model. Resurgam Healthy Living Centre {Public Health Agency, Integrated Care Parteh1p. Heallhy Living Centre Alliance) delivers on DHSSPS Mind Matters Social Prescribing and ha5 driven Lisburn Inequalities Forum's woth to publish a port. supported by Integrated Care Parlnership. Lisnagan4ey Men's Shed continue lo link in wrih Age Friendly inrtiative5 including work wilh mentors helping to develop the Honey Bee apiary. communily gardens and carpentry. Cultural work still remains an interest for the men's shed wtth visits and projects associated with Ulster Scots being a
Page 6 The Resurgam Community Development Trust Limited Company Limited by Guarantee Trustees. Annual Report (Incorporating the DirectOS Report) (conunuvrfj Year ended 31 March 2023 focus during the year. WelcoTh House MaInS to deliver services for underrepresented groups including Connected Minds Youth Committee. supporting LGBTOi+ being supported. Resurgam continue lo support young people in the 5 apartments with MACS arKI Northem Irdand Housing Executive. Overview of Project Delfvery: Innovalion and Research {DfC)". - Maintenarte and Developmenl of C¢rnmunty Academy Nl - Communty develOent learning network based on knowledge transfer. irlUding contracts with The Executwe Offre's Urban Village programme. - Vlorking Better Together - Support frameworf( lo refiect Specif need in comftvjnrties and also assist with developmenl of communrty leaders and project wothers for SueSsiOn planning. Project Development Board set up to progress Hilden Mill School - this is a partner appioach that will improve skills wiihin ¢apital projects and project developmenl within a statutory frameworf<. Community Assets and Sustainabilty: - Resurgam have been kjbbying and devekjping relationships to improve opportunities for Communty Asset Transfer and ComwrfJnity Led Housing IAodel. Lisbum Castleagh Comrnunity Plan is a vehide to assisi wilh this rrndel as wel as Housing Associations. Development of relationships and housiro providers including iniiiation of a Lisburn Castlereagh Housing Associat Forum. supported by Lisbum Castlereagh PCSP. Comrnunity Engagement Process: - Communty and Voluntary Consultations and Awareness: Slatutory Forums: Polilical Briefi$. Asset Mapping Health & Education - 750 local people accessing services within Healthy Living Centre (HLC) each quarter - Support, heallh promotion. informalionlsupport f<x health condrtl0r. support gnjups. including Belter Oays and Versus Arthritis - Partner services delivered in HLC weekly - Mental Health Services (support Ihose with menLql health issues and k)ng term conditK)ns),Social Prescr(Ix'ng Mind IAatteis project. Focus on ajdressing Food Poverty and Food Waste. hnking with Co4)p Comrwnty Fridge Fund ar#J local Supermarkets. Delivering on The Best for Every Child induding Help Kids Talk and Conrcted Minds Youth Conmniitee. focusing on YOU adulls including the Creation of Iheir LG8TQi+ committee. YLNJth: - 600 young people part¢¢ipal¥ig in 27 youth work sessions pw week - 40 young people participatM)n on youih adership prograrnmes - eo young people engaged weeY at targeted hotspots Youthbank Youth Leadership model including Level 1 OCN in Granl Makwbg, Resurgam SE'S mentoring a youth soaal enterprise and local funding applicat developed. - Crtizenship - Youth Council's engagement with politfAqI representalive5 arNJ Civic StrUctus - Mental Health and Wellbeing - Resurgam yth lniliats.ve Mental Heallh Champions - 3D Youth Centre regislered as OCN Centre - CorEuiiaiion Health Foundlon regarding Mentsl Health and Wellbeing Communty Safety: - Lisbum SAFE - 100 volunteers contributlng 1250 volunteer 1K)u per month - Good Relations - Lisbum PSP'S Good Relatn$ supporting WelcLThe Proiecl and Bi Lingual Y¢)ulh Club targeting Newcomers. - Lisnagarvey Frrendship & Support f(Y Men and Hens Shed - older people's prciecl
Pag• 7 The Resurgam Community Development Trust Limited Company Limited by Guarantee Trustees, Annual Report (Incorporating the DItOeS Report) (¢MthitsedJ Year ended 31 March 2023 Employment: - Resurgam has created employment for 130 people - Communty based social enterprises has a collective tumover of £2 million - Social Enterprises eonlribute £2 million10 Vle local economy thfough salary contribution Management and GovemarKe Sustainabilty Plan - Impact Framework - SuG¢ession Plan - Reviewed Strategic Planning - Social History Resurgam are leading the field in temis of Peacebuilding. RegerEralion and sla1 Enterprise. something that is having an impact upon disadvantage within their commuThiti'e$, identified through Impact Fram¢worf(. Flnancial review Fundln9 Res(tr9am Trust has received furKls totallng £726.758 in respect of the wiod ended 31 March 2022 for community support frcffl the followirvJ funders: Ofc Lisburn City Council Healthy Living - pcoiects Other funders Communty Academy Social Prescribing South East Mind Matters £104.421 £32,696 £55.537 £230.610 £121.635 £44.163 £54,283 In addition, the trust also generated funds through fundraising activtties and its communty-led housing portfolio. Resurgam has also Mntinued to develop ihe scKial enterprise and regeneration prqects with combined turnover on 22-23 of £1.812.501. The State(nent of Fiftan¢ial Activities set out on page 15 shows an unrestricted suwus for the year of £35.615. Plknntial fundlng Resurgam will cmtinue to seek additicxlal funding and Service Level Agre?Ents frx kKalised wort(, focused on Social Enterprise and Regeneration. ReseNes The Resurgam Trust policy reserves 1$ to hold sufficient resources lo ¢wtw)ue the charitable activities ol the group should income and fundraising activities fall SIrt. The Board consider5 that Ihe group should hokj a sum equivalent to 3 Mth5 runniNJ ¢ostS.
Pag• 8 The Resurgam Community Development Trust Limited Company Llmlted by Guarantee Trustees, Annual Report (Incorporating the Directofs Report) (¢ontlnu Year ended 31 March 2023 Plans for future periods Plans and Challanges: - Launch and implemenlats'on of 10 Year Strategic Plan. in¢k1n9 Operattonal Plan - Sustainabilty of Services - oversight of frrfe key areas of dèlNery: - Resurgarn Youlh Initialive - Lisbum SAFE - Resurgarn Heatthy Livin9 Centre Earty Intervention Lisbum - Community Academy Nl - Communty Connect - Engagement evenls and comrnunication rnethod fevwed - Succession Planning - Development of young leaders - Maintain Social Enterprise - devebwwlt of scKial enterprise and research further opportunities - Organisational Resilience - staff development and improve income streams - Development of New Website - prlon of service5 and mwe u5eT Itiendly Social Value.. Ccmtinued research lor opportunities, modelling the Northem IrelarKI Housing Executive and Idverde Partnership with Servo Contract Services Nl. - Buy Lc¢al - Sustsinabilty of communty based social enterprise leading io employment - Building on success: - Hilden School Project - Tear¢)orn, Child¢are, InlerprelN• History - Community Academy Nl - ccnfnUnty Led Housino Model (Wekome Htxjse. Chapèl Hill Méws) - Political instats'lity - become resiliem to impact of hang no links to Stormont Departments - Reduce Inequalilies - worting io improve links betrween cMvnunity $eff-he projects, $utOry and voluntary provider5 leading lo improved heallh and wellbeing. Hlgh L•v•l Outcomes: - Powerful and Effective Communities - Delivering Posbtive and lasting change by engaging citizens in finding solutions and creatirMJ OPW1unities to build on assets to improve outcomes. - Stable and Safe Communities - ErIng in partnerships wilh relevant a9encies to ensure Lisbum is a stable arKI safe env[{Meftt in which to live. Sustsinable Environrnenl - Making a signifKant conlribution to the physical. economic and social tran$f¢ymation of local conynunitiés in Lisbum through a communty4ed re9eneration modél. - Prosperous Lctsl Economy - ProvKling erloYment and c(rtributing SignifantlY lo the econonic gfOKrth in Lisbum through 6 social enterprises. Taking opportunrtEs to buikl on this success to create an infrastriicture that will suslain the Resutgam Trust fN the fulure. - Thriving"People - Through a public health, prevenii¢)n and early inlervention approach we wdl worf( in partnership with individuals. families and comrnunities to get the best for all children and young One Year Key Targets of Work The following is a summary of the revised Slfategic Plan and Impact Frdmewo - Develop Roadmap for areas ol setvice delivery including People. ConThunty. Organisation to reduce inequalities Deliverir¥J key tIOnS in Department for CcThmunrties contrad and Lisbum Castlereagh's Ctsnmunity Plan. - Devdop Comrnunty Led Housing Model - Buifvjing relationships with housing providers and NIHE - Promote benefits of successful Ccrfnmunty Asset Transfer - bbbying departmenls and kal council. Support Resurgam Youth Inrtiative. Heallhy Living Centre and Early 1nIeThentK Lisbumls Connected Minds Tti•Partts
Page 9 The Resurgam Community Development Trust Limited Company Limited by Guarantee Trustees. Annual Report (Incorporating the Directorfs Report) (¢ontlnu• Year ended 31 March 2023 - Developrnent of Hilden Primary School - Complete fundin9 package and devekjp SE'S. Healthy Liwng Centre - Continue to deliver on IMprrlng oulcomes for health and wellbeing - Conlinue Social Prescribing model (Scottish - Northem Irend Partnership) Support and promote Healih Inequalities agenda Early Intervention Lisburn Implement.. Connected Minds Youth Committee (National Lottery Communty Fund's Emotional Health). Help Kids Talk initiatr¥e and 8est for Every Child Schools 8ased Work - Community Safety - Maintenance of current Lisbum PSP model. Lisbum SAFE Good Relalions Lisburn PSP Under-Repre5enled groups arKI Minority Ethnic groups, induding Newcomers - Social Enterprise - to rnainlain current SE and develop Communty Led Housing Mode - Support youth SEIEnlrepreneurs - Social Enterprise Tearoom and Childcare to be developed Key focus area for all themes in coming year will be maintenance and delOPMent of (i) Communty Led Housing Model (li) Community Engagement - Communty Planning (iii) Political Engagemenl- Lobby Stmonl and Local Council Departments Impact The Resurgam Trust 'LOGIC Model and Theory of Change. will highlight the following impacts by knowledge of what is imwtant lo communty. investment frcmn ststutryy provKler5 and empowering communty to deliver change that reduces inequalities: The communily has well developed physical and social assets The community is a slable and safe place to Itve There is a positive communty identity Communty is ablè to attraet investment and develop en0m sustainabrtrty and resilience Communty has acces5 to meel rts needs Trustees. responsibilltles statement The trustees. who are also directors ft)r Ihe purposes of company law. are SponSible for preparing the trustees, report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generalty Accepted CntIng Practice). Company law requires Ihe tharty trustees to prepare financial statements for each year which give a true and fair view of the stale of affairs of the charitable company and the incoming resources and application of res¢)ur¢e$, includinA Ihe incorne and expenditure. for Ihat period. In preparing these fmancial statements. the truslees are required to". select suitable accounting policies and then appty them consistentty: observe the ffelhods and principles in the applicable Charittes SORP: make judgments and accounting estimates that are reasonable and prudenl.. state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financ1 statements., prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will conlinue in business.
Page 10 The. Resurg'am Commun'ity Deiielopmen't Trust Limited Company"Llmlted by Guarantee Trustees. An'nual Report {In¢ori?orating the Directorf-s Report). (¢onUnuo• Year ended 31 March 2023 The truslees are responsible for keeFiing adequale. accouriiing records tliat'are sufficient to show arid explain the Chan1.S 'lransactions and dlsclose wlth reasonable accuracy at any time the financial posilion of the charity and enable'.them"lo ensure that th'e finanaal stateii)erits cxxnpty %Yith the Companies. Act 2006. They. are als_o responsible for safeguarcilng the. assets of the cliarlty and hence for taking aSOnable steps for the preventk)n'and dètection of fraud and olher irr.e9ularities. Audltor Each of the. persons.who is a tJustse at the.dale of approval of this rep1 eonfirrns that: so'far as Ihey are.aware- there is no •.elevant.audit irifomiation of"%Yhich the .chanW$ auditor Is unaware:.and they have laken all steps Ihat they'oughl to h.taken as a twstee.'to make Ihemselves.aware of any relevant, audil infonnalion and. to estsblish 'ltiat Ihe charivs auditor. is aware. of 'that, information. The truslees, annual repoit and th.e strate9ic report wére. approved on '18.D8cemb8r 2023. and:, signgd on behalf of the board of trustees. by: Mr P Dean Truslee
Page 11 The Resurgam Community Development Trust Limited Company Limited by Guarantee Independent Auditorfs Report to the Members of The Resuryam Communlty . Development Trust Limited Year ended 31 March 2023 Oplnlon We have audiied the consolidated financial slatemenls of The Resurgam Community Devebpment Trust Limrted (the 'charity') and lis subsKliaries (the "group.) for the year ended 31 March 2023 which comprise the consolKlated stalement of financial adNities (including incorne and expendilure account). consolidated statemert of financial posrtw)n. ccynpany stalerreni of financial posttion. statement of cash flows and tt lated notes, irtluding a surrmary of significant arxountir¥J polics. The financial reporting framewo Ihal has been applied in"Iheir pparation is applicable law and United Kingdom Accounting Standards. including FRS 102 The Financol Reporting Standard applicable in the UK ar Republic of Iland (Unrted Kingdon Gereralty Accepted AccountirvJ Practice). In our t¥)inion the financial statements: give a true and fair view of the state of Ihe company and the gn)up's affairs as at 31 March 2023 arKI of its incorning resoyJeS and applKation of resources. including its income and expenditure. for the year then ended; have been properly prepared in xcordanGe with United Kingdorn Generally Accepted Accounting Practrx,. have been prepared in accordance with the requiremenls of the Companies Ad 20t. Basis for oplnlon We conducted our audil in accordance with Intemational Standards on Audiling (UK) {ISAs (UK)) arKJ applicable law. Our responsibilities under those standards are further described in the audilorfs responsibililies Ihe audit of financial statements sectM)n of our iep(xt. We are independent of the charty in accordance with the ethical requeMentS that are relevant to our audtt of the finarKo1 staternenls in ihe UK. including the FRC'S Ethical Slandard. and we have fiJlfiUed our other ethical responsibililies in accordance with these requirern8nts. We believe that the audit evidence we have obtained is sufficient and appropriate to provKle a basis for cwr opinion. Concluslons rnlatlng to going concern In auditing the financial statements. we have concluded th Ihe trustees. use of trE going concem basis of ac¢cyJnting in the preparation of the financial statements is appropriate. Based on Ihe we have perfomd. we have not idenlified any nKqtetial uncertainlies relating to events or conditK)ns that. Indivua1ty or colledivety. may casi signtftant (k)ubt on the group or the charty's ability to continue as a 90ing concern for a period of at least t¥velve months from when the financial siaternents are atsthtyised fu issue. Our iesponsbiltties and the responsibililies of the trustees with respect to goirKJ concem are described in the relevant sections of Ihis report.
Page 12 The Resurgam Community Development Trust Limited Company Limited by Guarantee Independent Auditor's Report to the Members of The Resurgam Communlty Development Trust Lim ited (¢onllnu•dJ Year ended 31 March 2023 Other Infonnatlon The other inforrnation comprises the information included in the annual report. other than the financial statements and our auditorfs report thereon. The trustees are responsible for the other information. Our opinion on the financial statements does not cover the other infomation and. except to the extent otherwise explicitly stated in our report. we do not express any form of assurance conclusion thereon. In connection wilh our audit of the financial statements, our responsibTlity is to read the other information and, in doing so. consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements. we are required to determine whether there is a material mi55tatement in the financial statements or material misstatement of the other information. If. based on the work we have perfomed, we conclude that there is a material misstatement of Ihis other information. we are required lo report that fact. We have nothing to report in this regard. Opinions on other matters prescrlbed by the Companles Act 2006 In our opinion, based on Ihe work undertaken in the course of the audit: th¢ ¢nforrrtation given in the trustees, report for the financial year for which the finaneial staiements are piepared is consistent with the financial statements; and Ihe trustees. report has been prepared in accordance with applicable legal requirements. Matters on which we are requlred to report by exceptlon In ihe light of the knowledge and understanding of the charity and its environment obtalned in the ttiuf5e of the audit. we have not identified material misststements in the trustees, report. We have noihing to report in respecl of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion: adequate accounting records have nol been kept. or returns adequate ftjr our audit have not been received frorn branches not visrted by us,, of the financial ststements are not in agreement with the accounting records and tUrnS. or certain disclosures of trustees, remuneration specified by law are not made,. or we have not received all the informab.on and explarAtions we require for our audit.
Page 13 The Resurgam Community Development Trust Limited Company Limited by Guarantee Independent Auditor's Report to the Members of The Resurgam Community Development Trust Limited I¢£1n¢) Year ended 31 March 2023 Responsibilities of trustees As explained rnore fulty in the trustees. responsibilits'es stalement. the trustees (who are also the directors ft)r the purposes of company law) are responsible for the preparation of the financial stalements and for being satisfied Ihat they give a true and lair view. and for such intemal control as the trustees determine is necessary to enable the pparatIon of financial statements that are free from material misstaternen( whether due to fraud or error. In preparing the fsnancial statements. the irustees are responsible for assessing the charity's ability to continue as a goin9 concern. disclosin9, as applicable. matters related to going concem and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operalions, or have no realistic alternative but to do so. Auditorfs responsibilities for lh• audit of the financlal statem¢nts Our objeclive5 are lo obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, aftd to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAS (UK) will always delect a material misstalement when it exists. Missiatements can anse from frauij or error and are considered material it, individually or in the aggregate. they coukl reasonably be expected to influence the economic decisions of users taken on the basis of these financial ststements. Irfegvlarities, including fraud. are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above. to detect material misstatements in respect of irregularities, including fraud. The exlent to which our procedures are capable of detecting irregularities. including fraud is detailed below- As part of the audit process we obtained an understanding of the legal and regulatory framework applicable to the entity, bein9 FR102, Companies Act 2006 the UK laxation re9ime and compliance with regulalions in relation to the Coronavirus Jobs Retention Scheme and the Coronavirus Business Interruption Scheme. In addition. we assessed the risks of material fraud through enquires with management and those charged with corporate governance and analytical procedures were used to assess any unusual or unexpected latIonships. As with ali organisation of this size, there remains an inherent difficulty in the detection of irregularities. A further description of our responsibilities ft)r the audit of financial stalements is located on Ihe FRC'S website at VAWN.frc.org.uklauditorsresponsibilities As part of an audit in accordance yth ISAS (UK}, we exercise professional judgmeni and maintain profèssional scepticism throughout the audit. We also: Identify and assess the risks of material misststsment of the financial statements, vthether due to fraud or error, design and perform audit procedures responsive to those risks. and obtain audit evidence that is sufficient and appropriate lo provide a basis for our opinion. The risk of not detecling a material misstatement resulting frorn fraud is higher than for one resulting from error, as fraud may involve collusion. forgery. intentional omissions, misrepresentations, or the override of intemal control. Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances. but not for the purpose of expressing an opinion on the effectiveness of the intemal control.
Page 14 The Resurgam Communoty Development Trust Llmoted Company Llmlted by Guarantee Independent Auditorfs Report to the Membern of The Resurgam Communlty Development Trust Limitsd (conllftu•dJ Year ended 31 March 2023 Evaluaté the appropriatenes$ of accounting policies used and th¢ r&%onableness of accounting ejtimales and related disclosures made by the Irustees. Conclud& on the appropriateness ol the tfustees. use of the going corrn basis of accounting and. based on the audit eviden obtsined. whether a material uncertainty exists related to events or condiliDns thal may cast Si9nrfanI doubt on the tharity's abilty to continue as a wng concern. If w clude that a matenal uncertainty exists. we are required to draw attentn in our auditorfs report to the related disclosures in the financial stalements or. rf such disclosures are IneqUate. to modfy our opinion. Our conclusions are based on the audit evidence obtained up to Ihe dale of our audilofs report. However. futuie events or condtticffis may cause the charity to ase to continue as a going concern. Evaluate the overall presenlation. structure and content of the financial statemenls, including ihe disclosures, and whether the financial statements represenl the undwtying transacti(>ns and events in a manner that achieves fair presentalton. We communicate with those tharged with governance regarding, among other mattels. the planned scope and linin9 of Ihe audil ar)d significant awlit findings. indudin9 any SignifnI deficlen¢ies in inlemal control that we entity during our audrt. Use of our report This rep¢)rt 6 made solely lo the dwrty's mernbers. as a body. in accordance wilh Chapter 3 01 Part 16 of the Ctynpanies Act 20(E. Our audit work has been undertaken so thal we msht state to the charity's members those matters we are UIred to state to them in an auditorfs report arKI for no other purpose. To the lullest extent pefmilled by law. we do not accept or assurro responsibilty to anyone other than the chanty arKI the charity's members as a body. for our audii worK for this report. or for the opinions we have fornied. Ms E Mulholland (Senior Slatutory Auditor) For and on behalf of Johnston Graham Limited Chartered accountant$ 8 statutory auditor 2161218 Hotyw¢¢d Road Belfast BT4 1PD 18 Oecembef 2023
Page 15 The Resurgam Community Development Trust Llmited Company Limited by Guarantee Consolidated Statement of Flnancial Activities lincluding income and expenditure account) Year ended 31 March 2023 2023 UnstrIcted ReStrted funds funds Total funds Total funds 2022 Not• Income and endowments Donations and legacies Charrtable activities Other trading activilies Other income 24.562 24,562 643,345 1.024,2( 120,388 17.714 571.119 821,395 57.585 643.345 1.024.2( 120.388 1.169.156 Total income 643.345 1.812,501 1,467.813 Expenditur8 Expendrture on raisirg funds.. Costs of other trading activiltes Expendrture on charitable activities Taxation 798.241 332.557 2.743 798.241 1.034.908 2.743 1.835.892 628.649 914,328 {93) 1.542.884 702,351 12 Total expenditure 1.133.541 702,351 Net expenditure and net movement in funds 35,615 (59.006) (23,391) (75.071) Reconciliation of funds Total funds brought foN4ard Total funds carried forward 696.076 3.142.799 3.083.793 3.838.875 3.815.484 3.913,947 3.838,876 731.691 The statement of financial activilies includes all gains and losses recognised n Ihe year. All income and expendrture derive from ¢Mtinuing actNities. Th• noto1 on pages 19 to 32 lomi part ol IhM• flnanclal *tst•m•nt
Page 16 The Resurgam Community Development Trust Liimited Company Limited by Guarantee Consolidated. statement.of Financlal PositioTh 31 March 2023 2023 2022 Nole, Fixod assols 'Tartgible fixed asse16 Investmonts 16 17 1.479,654 1.770.673 1,515',967 1.770,673 3,250,327 3.286.640 Current assets Stocks Debtors .Cash.at bank and in hand 18 19 19.950 170.018 703'.159 .18.OCK) 176,422 670.691 893,,127 Creditors;.amounts'.'falling.due viithin: one.year Net current assets. 20 303.220: .263,718 589.907 .601,395 Total assets less.currerit liablllties .3.840.234. 3.888,035 Credltors: amounls falllng'due after more"'than one year 21 39,518 Provlslons 23.. 4.808 2.355 Net assots 3.81 5.484 .3.:846.162 Funds of Ihe.¢harity Restricted funds Unreslricted fiJnd5 3.083.793 7-31.'691 3.142,800 Total charlty fu_nd.s. 25. 3.815.484 These. financial slatements were approved by ihe board of tnBtees and authorised for Issue on. 18 l)ecernber 2023. and'are slgned.on behall'of the boaf(J by: Mr P Dean Trustee. The notes pagos 19 to 32.fomi part of Ihese nnanclal statenionls:
Pago 17. Thé Resurgam Community Development T'rust Limlted Company Limited by Guar.antee Company Ststement.of'Financlal Position 31. March 2023 2023 2022 Noto Fixed assèts Tangible fixed assets Investments 13 7.,741., 1.77.0,673 6.834. 1.770.673 1.7.77.$07 1.778,414 Current assets Debtors Cash at bank and'ln hand 15 142,218 S24,939 139.780 522,471 662,251 667,157 Creditors: amounts'falllng. due withln. one'.year N•t current asset8 16 227,132 439,975 .2.218.389 455,808 Total assèts1•88 currant Ilabllltles 2.233,315 Creditors.. amounls fa'lling.dut'after more than one year 17 Net asset8. 2,218,389 2,213.739 Funds of the charfty Restrietèd fund5 Unrestricted funds 1,7.17,568 500,82.1 2.218,389 1.717,569 496,1.70 "2.213.739 Total charlty funds 19 These financial statements hav6 been prepared. in awdanca wilh the provisions 8pplicAbla to companies. subject to'lhe small comp8nies'Tegime: These financlal statements wefe approiied by .Ihe' board of trustees and au.thorised for is.sue on .18 OeGember 2023. and are. slgned on behalf of the board ty... Mr. P.Dean Direclor Tho.notes:on pa9es 19'to.'32 forni part of those finan¢lal siatements.
Page 18 The Resurgam Community Development Trust Limited Company Limited by Guarantee Consolidated Statement of Cash Flows Year ended 31 March 2023 2023 2022 Cash flows from operatlng a¢tlvltles Net expenditure (23.391) (75,071) Adjustments for. Depreciation of langible fixed assets Taxation Accrued expense5 81.055 2,743 52,502 79.500 (93) 7.063 Changes in.. stocks Trade and otkEr debtors Trade and other creditors (1.950) 6,404 (6.910) 110,453 2,000 95,441 (12,007) 96,833 Cash generated from operations Tax paid Net cash from operating activitie5 (2.998) 107,455 {2.335) 94.498 Cash flows from investing a¢tlvlties Purchase of tsngible assets Net cash used in investing acbvibes 144.743) (44.743) {29.242) {29.242) Cash flows from financlng activitles Proceeds from borrowin9S Net cash used in finanang activities (30.244) (30.244) (58,447) (58,447} Net increasel{decreaseD In cash and cash equivalents Cash and cash equivalents at beginnlng of year Cash and $h equlvalents at end of year 32.468 670.691 6.809 664.158 670,691 703,159 The notes C pages 19 to 32 form part of these financial statèmènts.
Page 19 The Resurgam Community Development Trust Limited Company Limited by Guarantee Notes to the Flnancial Statements Year ended 31 March 2023 General information The ¢harrty is a public benefrt entity and a private company limited by guarantee. registered in Northern Ireland and 3 r49islered charity in Northern Ireland. The address of the registered officè is Office 3. Laganview Enterprise Cenlre. 69 Drumbeg Avenue, Lisbum. County Antrirn. BT28 1NY. Statement of compliance These financial statements have been prepared in compliance with FRS 102, The Financial Reporting Standard applicable in the UK arKI the Republic of Ireland.. Ihe Siatement of Recommended Practice applble 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 policles Basls of Pfaparation The financial statements been prepared on the historical cost basis. as modified by the revalualion of eertain financial assets and liabilities and investment properties measured at fair value through income or expendiiure. The financial statements are prepared in Sterling. which 15 Iho functional currency of the entty. Golng concorn There are no material uncertainlies about Ihe charitys abilty to conlinue. Consolidation The financial stalernenls consolidate the financial statements ol Resurgam Community Development Trusl Lirnited and all of its subsidiary undertakings. The parent company has applied the exemption in section 408 of the Cryypanies Act 2006 and has r>t presented its individual statement of financial activities Judgernents and key sources of estimation uncertainty The preparation of the financial statements require5 rnanagernent to make judgements, estimate5 and assumptions thal affect the amount5 reported. These estimates and judgements are conlinualty reviewed and are based on experience ar other factors, including expectatrons of future evenls that are believed lo be reasonable under the cIrcuff1ance$. Incorne tax The taxation expense represents the aggregate amount of current and deferred tsx Rcognised in the ieporting period. Current lax is recognised on taxable income or expenditure for the current and past periods. Current lax is rneasud at the amounls of tax expected to pay or recover using tax rates and laws that have been enacted or svbstantively enacted at the reporting date. Deferred tax 15 recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tsx assets are recognised to the exient thal rt is probable thal they will be recovered against the reversal ol deferred lax liabilities or other fvture taxable profrts. Deferred tax is measured using Ihe tax rates and lavts Ihat have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Pago 20 The Resurgam Communily Development Trust Limited Company Llrnited by Guarantee Notes to the Financial Statements (¢ontlnu•d) Year ended 31 March 2023 Accountlng policies (eoniinu•¢ Fund accounting unStrICted tunds are available for use at Ihe dwetion of the truslees to further any of the chantys purposes. DeSnated funds are unrestrKted funds earmarked by the trustees for partthlar future proiecl or ommilment. RestfKied funds a subjected to reslfictions on their expenditure declared by the donor 01 through the tems of an appeal, and fall into one of two sub-clas. restricted inc(me funds or endowment funds. Incomlng re8¢)urces All incoming resources are incltsded in the statement of financial xtivilies when entitlement has passed to the charity: il is probable that the ecorKNnic ben8ffts associated with the transaction will fltyw to Ihe Charity and the amount Can be reliably measured. Tr follry44irKJ specific policies are applied lo particular categories of income: income from d<)nations or grants is re¢ognised when Ihere is evidence of entitlemenl to the gift. reIpl is probable and its amount can be measured reliably. legacy inc<Jrne is recogntsed when receipt is prabatAe and entitl&neRt is established. in¢ome from donated goods is ff£asured at the fair vdue of the gocrfjs unless this is impraclical to measure reliabty. in whth se the value is derived frorn the cost lo the donoi or the eslwnated resale value. Donated facilities and ser0S are recognised in Ihe accounts when received rf the value can be liablY nasUred. No amounts are included lor the contrbution of general volunteers. inc<xne frcm contracts for the suppty of services is recognised with the delivery of Ihe conlracted ser¥ice. This is classified as unrestrKled funds unless there is a contractual requirement for it to be spent on a particular purpose and returned rf unspent, in which case it may be regarded as restricted.
Page 21 The Resurgam Community Development Trust Limited Company Limited by Guarantee Notes to the Financial Statements (¢oniinu•dJ Year ended 31 March 2023 Accounting policies (¢onllnu•dJ Resources expended Expenditure is reco9nised on an accruals basis as a liabilty is incurred. Expenditu includes any VAT which cannot be fully recovered. and is classified under headings of the siatement of rinancial activities to which it tateS.. expenditurè on raising funds includes the costs of all fundrat5irg activilTres, events. non<haiilable trading activilies. and Ihe sale of donaled good5. expendtlure on charitable activities includes all costs incurred by a charity in undertaking activities Ihal further ils charitable aims for the benefrt of its beneficianes, including Ihose support Gosls and costs relating lo the govemance of the charty apportioned to Gharitable activities. ¢lher expenditure includes all expenditu that is neither lated to raising funds lor the charity rK)r part of its expenditure on charitable activrties. All costs are allocated to expenditure categories reflectiro the use of the resource. Direct costs attributable lo a single aclivty are allocated directly to Ihat actiVty- Shared costs are apportioned betrween the activities they contribute to on a 8$onable. justifiable and c¢nsistent basis. Tanglble assets Tangible assets are initially recorded at cosl. and subsequently Slated al $t less any accumulated depreciation arKI impaimient losses. Any tangible assets carried al revalued amounts a recorded at the fair value at the date of revaluation less arny subsequent accurnulated depfeciation and subsequent accumulated impaimient losses. An increase in the carrying affthinl of an asset as a resuft of a revaluation. is recognised in other recogftised gains and losses. unless il reverses a charge for impaim?ent ihal has pViOUslY been recognised as expenditure within the slatement of financial activities. A decrease in the carying amount of an asset as a result of revaluation. is recognised in other recognised gains and losses, except lo which il offsets any previous revaluation gain. in which case the Ioss 15 shown wilhin other recognised gains and on the statement of financial actNrties. Deprecla¢ion Depreciation is calculated so as to ylte off the cost or valuati¢)n of an asset, less its residual value. over the useful economic life of that asset as f¢iiows". Land and buildings Building alleratians Fixiures and fittings Motor vehicles Equpment 4% straight line 1 straight line straighl line 25•A reducing balance 200A. 25% & 330A Straight line Investfflents Unlisled equity investments are initially recorded at cost. and subseguentty measured at fair value. If fair value canrot be reliably measured. assets are measured at $1 less impaimienL Listed investments are measured at farr value %*ilh charyes in fair ¥abJe being recognised in incorne or expenditure.
Page 22 The Resurgam Community Development Trust Limited Company Limitgd by Guarantse Notes to the Flnancial Statements (Conun0) Year endad 31 March 2023 Accounlin9 polkles f¢onthv•¢ Investment property Investmeni propety is initi'ally recorded ai ¢osI, which includes purchase price and any directty attributable expendrture. Invesiment property is revalued to its fair value at each reportlng date and any changes in lair value are recognised in wofil or loss. If a reliable measure of fair value is no longer not available withoul undue cost or effort for an item of investment prwerty, it shall be transferred to tangiNe asset5 and treated as such until it is expected thal fair value w1 be reliabty measurable on an on-going basis. The investrnenl properties valued in December 2016 by GP IAcGaTrigle MRICS Survey Serrfices Belfast and these values have been refkcted in the financial statements. directors are of the cpinion that there has been no SnIficant charvJe to the propety valuation during the financial year. Impalrment of fixed assets A rev¢ew foi indicatopJ of impaimient is carried ¢JJt al exh reporting dale. with the recoverable amount being estimated where such indicators exist. Wre the carrying value exceeds the recoverabkn amcwnt. the asset is impaired accordingly. P¢ior impaiiments are also reviewed for possible reversal at each reporting date. For the purposes of impairnient testing. when il is not possbi le to estin3ate the recoverable amount of an indmdual asset. an eslimaie is made of the recoverable amount of the cash4Jenerating unrt to which the assel belongs. The CasheratIng unrt is the smallest Klenlrfpble group of assets thal indleS the asset and generates cash inkns thal lar9ely independent of the cash inflows fiom olher assets or groups of assets. For impairmenl testing of goodwill. the 9oodw.ll acquired in a business combination is. from the acquisition date, allocated to each Of the cash-geneialin9 units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilits of Ihe charity are assigned to those units. Stocks Stocks are measured al the k)wer of cost and estimated sellTrKJ price less costs to cornplete and sell. Cosl includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to it$ presenl location WKIrtK)n. Provlslons Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event. it is probable Ihal Ihe enlity will be required to transfer econornic benefrts in sethement and the amount of the obligation can be estimaied reliably. Provisions are recognised as a liabilty in the stateffnt ol fmancial positi¢n and the amount of Ihe provision as an expense.
Page 23 The Resurgam Community Development Trust Limited Company Limited by Guarantee Notes to the Financial Statements f¢onllnueO) Year ended 31 March 2023 Accountlng poli¢ioS fconthueo) Provlslons {¢onllnufjd) Provisions are initialty measured ai tho best estimate of the amount required to settle the obligation at the reporting dale and subsequently reviewed at each reporting dale and adjusted to reflect current best estimate ol the amount that would be required to settle the obligation. Any adjustmenls to Ihe amounts previously recognised are recognised in incorne or expendilure unless the provision was OrinallY recognised as part of the Cost of an assat. Vlhen a provision is measured at the present value of Ihe amount expected lo be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in Ihe statement of financial activities in the period it arises. and is allocated to the appropriate expenditure heading. Financlal Instruments A financial assel Or a financial liabilty is recognised only when the ¢harty becornes a paty to the Contractual provisi¢ns of the instrument. 8a5ic financial instruments are initialky recognised al the arTr)unl rec£ivable ¢x payable in¢ludin9 any related Iransaction cosls. Current assets and current liabilities are subsequently measured at Ihe cash or other consideralion expected lo paid or received and not discounted. Debt instruments are subsequently measured at amortised ¢ost. Whefe investments in shares are publicly traded or their fair value can otherwise be measured reliably, Ihe investmenl 15 subsequentty measured at fair value wtlh changes in fail value recogni5ed in income and expendilure. All other such investments are subsequently measured at cost less impaimient. Other financial instruments. including defivatives, are initially recognised al fair value. unless payment for an asset is deferred beyond nomial business temis or financed at a rale ol Interest that is not a market fate, in which case the asset is measured at the present value of the future payments discounled al a rnarket fate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in the statement of financial aclivitie5. Nwth the exception of hedging instruments in a designated hadging relationship. Financial assets thai arè measured at cost amortised eost are reviewed for objective evidence of impainnent at the end of each reporting date. If there is objective evidence of impaimenl, an impaimient loss is recognised under the apPropre heading in the staiemeni of fin8n¢ial adivities in which the initial gain was recognised. For all equty instfumenls regardless of significance, and other financial assets that are individually significant. these are assessed individually for impairment. Other financial assets are either assessed indivrdualty or grouped on basis of Similar credit risk chardcteristics. Any reversals of impairment are recognised immediately. to the exlent that the reversal does not result in a carrying amount of the financial asset that exceeds what the caryin9 amount would have been had the iwoaiment not previously been recognised.
Paoe 24 The Resurgam Community Development Trust Limited Company Limited by Guarantee Notes to the Financial Statements (¢onJnu•dJ Year ended 31 March 2023 Accountlng policies (¢onllftuod) Defined contrlbution plans Contributvjns to defined contrbutn plans are rec¢gnised as an expense in the period in which the relaled service is provided. Prepaid contrtsutions are recognised as an a55et to the extent that the prepayment will lead to a reduGtion in luture payrnnts or a Gash iefund. When contributions are nol expected to be settled wholty within 12 months of the end of the reporting dale in which the employees render the related sejvice, the liabilty is measured on a discounted presenl value basis. The unwinding of the discounl is recognised as an expense in the period in which rt arisas. Limited by guarantee The Gompany i¥ limited by guaranlee and has no authcxised or issued share capital. Oonations and legacies Unrestricted Total Funds UnstrICted Total Funds Funds 2023 Funds 2022 Donations Donations 24.562 24.562 17,714 17.714 Charltable activities unStriCted Funds Reslricted Total Funds Funds 2023 Lisbum City Council NIHE Community Academy. Social Prescribing SEMM DFC Healthy Living InitialNe Other Funders Comic Relief LCCC - Laganview Enterprise 32,696 91,327 121,635 38,826 54.283 104,421 55.537 24,261 88.649 31,710 643.345 32,696 91,327 121,635 38,826 54,283 104,421 55,537 24,261 88,649 31,710 643,345
Page 25 The Resurgam Community Development Trust Limited Company Llmlted by Guarantee Notes to the Flnancial Statements {¢•ntlnwo) Year ended 31 March 2023 Unreslricted Funds Restricted Total Fund8 Funds 2022 Lisbum City Councl NIHE Comrnunity Academy Social Prescribing DFC Early Intervention Lisburn Healthy Living Iniliatbve Olher Funders Comic Relief LCCC - Laganview Enterprise Cenlre 46,732 40,001 126,272 44,163 104,512 1.500 56,906 26.077 76,309 38,991 561,463 46.732 40,001 126,272 44,163 104,512 1,500 56,906 26,077 76.309 48,647 9,656 9,656 571,119 Other trading actlvftles unStriCted Funds Reslricted Total Funds Funds 2023 Resurgam Communty Trnsl Devek)prnent Laganview Enterprise Cenire Limiled Lisburn Communty Inn5 Limited Lagan$ide Business Serrfices Limited Lisburn Comrnunty Self Build Limited Premier Taxi Company Lirnited Intercornpany Irading 181,653 100,876 529,132 60,533 89,822 114,784 (52.594) 181.653 100,876 529,132 60,533 89,822 114,784 (52.594} 1.024,206 1,024,206 Unrestricted Fund5 Restricted Total Funds Funds 2022 Resur9arn Community Dovelopnent Trust L8ganview Enterprise Cenlre Limrted Lisburn Communty Inns Limtted Laganside 8usiness Services Lirnited Lisbum Communty Self Build Limiied Premier Taxi Company Limiied Intercompany trading 171,573 91.511 451,303 65,524 9.641 95,947 (64,104) 171,573 91,511 451,303 65,524 9,641 95,947 (64,104) 821,395 821.395 Other incom• Unrestricted Totsl Funds Unrestricted Total Funds Funds 2023 Funds 2022 Other income 120.388 120,388 57.585 57,585
Page 26 The Resurgam Community Development Trust Limited Company Limited by Guarantee Notes to the Financial Statements (Conrfnuo Year ended 31 March 2023 Costs of other tradlng activit5•9 Unrestricted Tolal Funds Unrestricted Total Funds Funds 2023 Funds 2022 Lisburn Communty Inns Laganside Business Services Lisburn Community Self Build Premier Taxi Company Intercompany Trading 568.559 F)0.916 77.358 154.002 (62.594) 568.559 60.916 77.358 154,002 (62.594) 505,436 73.017 9.672 119,629 (79.104) 505,436 73,017 9,672 119.629 (79,104) 798.241 798.241 628,650 628,650 10. Expendlture on charftable activities by fund type Unrestricied Funds Restricted Total Funds Funds 2023 Li5bum Cty Council Healihy Living Other Funding DFC SEMM Community Academy Laganview Enterprise Centre NIHE Stxial Prescribing Comi¢ Relief Support costs 32,696 55,537 24,261 104,421 54.283 121,635 90.716 91,327 38.826 88.649 32,696 55,537 24,261 104,421 $4,283 121.635 211.709 91,327 38,826 88.649 211.564 120.993 211.564 332.557 702.351 1,034,908 Unfestricled Funds ReStrted Totsl Funds Funds 2022 Lisbum Cty Council Healthy Living Initiative Other FundirKJ DFC 46.732 56.906 26.077 104.512 46.732 56,906 26,077 104,512 E -:]] Big Lottery Comic relief Coffmunity Academy Laganview Enterprise Centre Swial Prescribing Support costs 40.001 76.308 126.272 97.998 44.163 1,501 620.470 40,001 76,308 126,272 212.549 44.163 180,807 114.551 179,307 293,858 914.327
Page 27 The Resurgam Community Development Trust Limited Company Llmitsd by Guarantee Notes to the Flnancial Statements (conUnu•o) Year ended 31 March 2023 11. Expendlturg on charitable acllvitl•$ by actlvity type Activities undertaken directty Support co$ Total funds 2023 Total fund 2022 Lisbum City Council Heatthy Living Other Funding DFC SEMM Early Intervention Lisburn NIHE Comrnunity Academy Laganview Enterprise Centre Social Prescribing Comic Relief Support Cosls 32.696 55.537 24,261 104.421 54,283 32,696 55.537 24,264 104,421 54,283 46.732 56,906 66.078 104.512 76.308 91.327 121,635 211,709 38,826 88,649 91,327 121.635 211.709 38.826 88,649 211,564 126,272 212.549 44.163 211,564 180,807 835,223 823.344 211,564 1,034.908 12. Taxatk)n Major componanta of tax •xp•n8•1(In¢orn•) 2023 2022 Curr•nt tax: UK current tax expense1(in¢} Taxation 2.743 (93) {93) 2.743 13. Nat expenditure Net expenditure is stated after charginty(cfeditirwJ): 2023 2022 Depieciation of tangible fixed assets 81,055 79,500 14. Staff costs The l¢tal staff costs and empk)yee benefits for the reportin9 period are analysed as ftAIows". 2023 2022 Wages and salaiies Social security ¢osÈs Employer contnbutions to pensDn plans 637,940 49.476 17.130 542,496 40,993 9.620 593,109 704.546 The average head counl of empk)yees during the year was 38 (2022: 32). No employee received employee beneffts of more than £60,000 during the year {2022.' Nil).
Page 28 The Resurgam Community Development Trust Limited Company Limited by Guarantee Notes to the Financlal Statements (¢onthiu• Year ended 31 March 2023 15. Trustee remuneratlon and expenses No Irustees reIVed femuneRtion or othef beneffts through enploymenl with the charity. 16. Tangible fixed assets- Group Free1Id Building Fixtures and propety Atteration fittings h)tor vehicles Equipment Total Cost At 1 Aw 2022 Additions 2.125.149 26.776 12.000 332.919 13.482 5.926 17.900 91.570 2,582,340 1,361 44,743 92,931 2.627.083 At 31 Mar 2023 2,125,149 38.776 346,401 23,826 ' Depre¢latAon At 1 Apr 2022 Charge frK the year 669,576 20.013 288.026 5,926 82.833 1.W,374 59.1)06 728.582 3.878 23.891 16.102 1.025 83.858 1.147.429 81.055 At 31 Mar 2023 304,128 6.970 Carrylng amount At 31 Mar 2023 1,396,567 14.885 42.273 16.856 9.073 1.479.654 8.737 1.515,966 At 31 Mar 2022 1,455,573 6.763 44,893 Tanglble fixed assets - Company Equipment Total Cost Al 1 April 2022 Additions 72.854 1.361 72,854 1.361 74.215 Al 31 March 2023 74,215 Depreciation At 1 April 2022 Charge for the year At 31 March 2023 66,020 454 66,020 88,474 88,474 Carrylng amount Al 31 March 2023 7.741 7.741 6.834 Al 31 March 2022
Page 29 The Resurgam Community Development Trust Limited Company Limited by Guarantee Notes to the Financial Statements (¢onllnu•d) Year ended 31 March 2023 17. Investfflents Investment properties Cost or valuation At 1 Aprll 2022 and 31 March 2023 Impalmient At 1 Aprll 2022 and 31 March 2023 Carrylng amount At 31 Mar¢h 2023 1,770,673 1,7TO,673 1,770.673 At 31 March 2022 All investments above are treld at valuaknn. Inv•slm•nt propertl•s Investrnents a ltsted at valuation in Ihe financial slatemenls as valued by G P McGamgle of Survey Services 8ellast. The directors have assessed that there has been no subsequent material ¢han9es in valuation. 18. Stocks 2023 2022 Raw materials and corLsumables 19,950 18,000 19. Debtors Group Company 2023 2022 2023 2022 Trade debtors Prepayments ar accfued incom• Other debtors 137,571 133.215 104,324 6,620 4.817 5.3154 25.827 38.390 32,540 92.910 711 46.1S9 170,018 176.422 142,218 139.780 20. Creditors: amounts falllng due viithln one year Group 2022 Company 2023 2023 2022 Bank loans and overdrafts Trade creditots Accruals and deferred Inc¢me Corp¢Yation tax Social security and other tsixes Other thdrtors 10,668 10,668 97.467 107.241 42,698 77,325 184,484 131.982 184.484 118.450 217 542 10,879 18,455 10.173 2.116 303.220 271.004 227,182 206,443
Page 30 The Resurgam Communlty Development Trust Limited Company Limited by Guarantee Notes to the Flnanclal Statements {eoftiinu Year ended 31 Alarch 2023 21. Credltors: amounts falling du• after rnor• than on• year Group 2022 Company 2023 2023 2022 Bank knans and overdrafts Other loans 19.576 19.942 19,576 19.942 19.942 39,518 19.576 22. Deferred tax The deferred tax included in Ihe slaternent of financial posilim is as 1011Ths: 2023 2022 Included in provisions (note 23) 4,808 2.355 23. Provlsions Deferred lax (note 221 At 1 April 2022 Additions 1.555 3,253 4,808 Al 31 March 2023 24. Pensions and othef Post r•tSrement beneflts Oefined contribulion plans The amount recognlsed in in¢ome or expendituie 88 an expense in relatM)n io defined contribution plans was £17.130 (2022: £9.620>. 26. Analysis of charltable funds Unrestrlcted funds Al 1 April 2022 Al Transfers 31 Mar 2023 Incorre Expendrture Gerwai funds soc1 Enierprise Development Fund Operational Fund 546,076 1.169.156 {1.093,191) (50.350) 571.691 150.000 (40.350) 40,350 10.CQO 150.0Th) 10,000 731.691 696.076 1,169.156 (1,133.541)
Page 31 The Resurgam Community Development Trust Llmited Company Limlted by Guarantee Notes to the Financial Statements (¢onllftu•dJ Year ended 31 March 2023 24. Unr•strlcted Funds (continued) At 1 April 2021 At Transfers 31 Mar 2022 Incorre Expenditure General funds Social Enterprise Oevelopment Fund 562.141 9t%.350 (922.414) 546.076 150.000 150.000 696,076 712,141 906.350 (922,414) 25, Analysls of charitable funds Restrlcted funds At 1 April 2022 At Incorne Expendilure 31 Mar 2023 Re$urgam Propety Big Lottery Healthy Living Lisbum Cty Counc Dfc Community Academy Social Prescribing NIHE Comic Relief SEMM Other Funder3 Laganvi*N Enterprise Centre 925,( 730,928 4.287 925,000 730,928 4,287 55,537 32,896 104,421 121.635 38,826 91,327 88,649 54,286 24,261 31,710 (55.537) (32.6%) (104.421) (121,635) (38,826) (91,327) (88,649) {54,286) (24,261) (90.716) {702,351) 3,083.793 57.353 1.42S,231 3.142.800 57,353 643,345 Al 1 April 2021 At 31 Mar 2022 Income Exp&nditure Resurgam Propety 8ig Lottery Healthy Living Lisburn City Council 925.000 730.929 4.287 925,000 730,929 4.287 56,906 46,732 104,512 126.272 44.163 143.887 38,991 (56.906) (46.732) {104,512) {126,2n) (44,163) {143,887) 57.3S3 (97,998) 1.425,231 (620.470} 3.142.800 Communty Acaderny Social Prescribing Other Funders Laganview Enterprise Cenlre 57,353 1,484,238 3,201.807 561.463
32 The Resurgam Community Development Trust Limited Company Limited by Guarantee Notes to the Financial Statements [lI1nOrfJ Year ended 31 March 2023 26. Analysls of not a$s•ts batween funds Unrestrtcted Funds Restricted Total Funds Funds 2023 Tangible fixed assets Investments Current asset5 Creditors less than 1 year Creditors greater than 1 yeai Net asséts 65.615 1.414.039 1,770.673 1.479.654 1.770,673 888.127 (303,0281 {19.942) 3,815.484 888,127 {202,109> (100,919> (19,942) 731,691 3.083,793 Unrestricted Funds Restricted Total Funds Funds 2022 Tangible fixed assets Inveslmenls Current assets Creditors less than 1 year Creditors greaier than 1 year Net assets 42.922 1,473.045 1,770.673 1,515,967 1.770,673 865,113 (273.359) (39,518) 3,838.876 865.113 {172.414) (100.918) (39.518) 552,236 3.286.640 27. Analysls of changes Sn net debt At At 1 Apr 2022 Cash flows 31 Mar 2023 Cash at bank and in hand Debt due wthin one year Debt due after one year 670,691 (10.668) (19,576) 640,447 32,468 10.668 19,576 62.712 703.159 703,159