REGISTERED COMPANY NUMBER: N1035510 (Northern Ireland) REGISTERED CHARITY NUMBER: 101083 Re ort of the Trustees and Unaudited Financial Statements for the Year Ended 31 Janua 2023 for Mone neena & District Develo I nitiative Ltd ment W MCGILLIAN & CO LTD Unit A2, Workspace 5-7 Tobermore Road Draperstown Derry BT45 7AG
Mone neena & District Develo Initiative Ltd ment Contents of the Financial Statements for the Year Ended 31 Janua 2023 Page Report of the Trustees Independent Examiner's Report Statement of Financial Activities Statement of Financial Position Notes to the Financial Statements 10 to 17 Detailed Statement of Financial Activities 18 to 19
Mone neena & District Develo I nitiative Ltd ment Re ort of the Trustees for the Year Ended 31 Janua 2023 The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 January 2023. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019). OBJECTIVES AND ACTIVITIES Objectives and aims The objects of the Company shall be: to relieve poverty, sickness and the aged and to promote the benefit of the inhabitants of the Moneyneena and district area of Co. Derry and its environs (hereinafter described as the area of benefit") without distinction of age, sex, race, political religious or other opinion, by associating voluntary organisations and inhabitants in a common effort to advance education, and to provide facilities in the interests of social welfare for recreation or other leisure-time OGcupation, with the object of improving the conditions of life for the said inhabitants. Page 1
Mone neena & District Develo Initiative Ltd ment Re ort of the Trustees for the Year Ended 31 Janua 2023 OBJECTIVES AND ACTIVITIES Public benefit The organisation has developed and built a Local Community Resource facility which is able to accommodate a wide range of organisations and individuals in the local and surrounding rural area of Moneyneena in South Derry. The Community facility which is owned and managed by the local community provides a range of activities including a parent and toddlers group, horticultural group, usage by sporting and cultural organisations, Irish Dance school and local Primary Schools. Educational classes are held with the support of local training organisations and include first aid, photography, sewing, cooking, yoga, keep fit and pilates. The heritage & culture of the area is being kept alive through the centre providing support for the local history group and primary school. These Glasses are well attended throughout the year and our concerts, drama and other entertainment nights are very popular. The Centre is open to all within the wider community providing a invaluable resour. The group undertakes fundraising to raise much needed funds for the operation and its ongoing development. The big breakfast and fun day were well attended. We secured funding to help run a Women's Training Programme and we continue to improve our Christmas decorations each year with the help from the local council. The Board have continued to develop new project ideas which specifically focus on creating access to local services provision in the Moneyneena area including health and well-being and more recently are investigating the linkage of the An Rath Dubh site to Moydamlaght Forest. The Group are working with a number of organisations including the local Council to help progress these ideas and it is anticipated that some of these projects will be delivered over the next 12-24 months. With no paid staff all community endeavours are undertaken on a voluntary basis. There continues to be no private gain to any individual member. In setting our objectives and planning our activities for the year the trustees have given careful consideration to the Charity Commission for Northern Ireland's guidance on public benefit to ensure that the aGtivities have helped to achieve the charity's purposes and provide a benefit to the beneficiaries. Page 2
Mone neena & District Develo I nitiative Ltd ment ort of the Trustees for the Year Ended 31 Janua 2023 FINANCIAL REVIEW Financial position The financial statements show a deficit for the year of £12,432 (31.1.22 SurpSus £3,308) Net assetslfunds £596,731 (31.1.22 £609,163). Performance model used to account for grants resulting in capital government grants shown on the SOFA. Capital Grants received this year were £5,719 and shown on the SOFA. Excluding these grants, the Charity has a normal operating nett deficit for the year of £18,151. (3111122 nett deficit from normal operating activities £15,962.) Management will continue to monitor revenue and spending on a monthly basis STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006. Organisational structure The management committee of Moneyneena & District Development Initiative Ltd administers the charity. Monthly meetings are normally held to discuss ongoing projects, finances and other issues. Risk management The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error. REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number N1035510 (Northern Ireland) Registered Charity number 101083 Registered office 53 Moneyneena Road Draperstown Co. Derry BT45 7EN Page 3
Mone neena & District Develo Initiative Ltd ment Re ort of the Trustees for the Year Ended 31 Janua 2023 Trustees S F Bradley J A Bradley M Kelly Ms R M Logue J T Mcshane (resigned 14.2.22) Ms S Mcwilliams C Mcwilliams M P Murray Ms P Ui Raifeartaigh S Laird (appointed 3.3 22) Ms M Bovill Ni Bhrochain (appointed 3.3.22) (resigned 12.10.23) Ms B Donnelly (appointed 3.3.22} (resigned 22.9.22) Ms C Corry (appointed 3.3.22) Company Secretary Independent Examiner W MCGILLIAN Financial Accountant W MCGILLIAN & CO LTD Unit A2, Workspace 5-7 Tobermore Road Draperstown Derry BT45 7AG Bankers ASB Bank Wellington Street Ballymena Approved by order of the board of trustees on 27 October 2023 and signed on its behalf by.. Kelly - Trustee Page 4
Inde endent Examiner's Re ort to the Trustees of Mone neena & District Develo ment Initiative Ltd I report on the accounts of the company for the year ended 31 January 2023, which are set out on pages seven to seventeen. Respective responsibilities of charity trustees and examiner As the charity's trustees (and also the directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006. Having satisfied myself that the charity is not subject to audit under company law and is eligible for independant examination, it is my responsibility to: examine the accounts under section 65 of the Charities Act follow the procedures laid down in the general Directions given by the Charity Commission for Northern Ireland under Section 65(9)(b) of the Charities Act state whether particular matters have come to my attention. Basis of the independent examinerfs report I have examined your charity accounts as required under section 65 of the Charities Act and my examination was carried out in accordance with the general Directions given by the Charity Commission for Northern Ireland under section 65(9)(b) of the Charities Act. The examination included a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also included consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as charity trustees concerning any such matters. My role is to state whether any material matters have come to my attention giving me cause to believe.. That accounting records were not kept in accordance with section 386 of the Companies Act 2006 That the accounts do not accord with those accounting records That the accounts do not comply with the accounting requirements of section 396 of the Companies Act 2006 and with the methods and principles of the Charities Statement of Recommended PractiGe applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland That there is further information needed for a proper understanding of the accounts to be reached. Independent examiner's statement I have completed my examination and have no concerns in respect of the matters (1) to (4) listed above and, in connection with following the Directions of the Charity Commission for Northem Ireland, I have found no matters that require drawing to your attention. W MCGILLIAN Financial Accountant W MCGILLIAN & CO LTD Unit A2, Workspace 5-7 Tobermore Road Draperstown Derry BT45 7AG Page 5
Inde endent Examiner's Re ort to the Trustees of Mone neena & District Develo ment Initiative Ltd Date: Page 6
Mone neena & District Develo I nitiative Ltd ment statement of Financial Activities for the Year Ended 31 Janua 2023 31.1.23 Total funds 31.1.22 Total funds Unrestricted Restricted funds funds Notes INCOME AND ENDOWMENTS FROM Donations and legacies 2,700 2,700 3,050 Charitable activities Charitable Activities 15,666 14,479 30,145 40,793 Totsl 18,367 14,479 32,846 EXPENDITURE ON Charitable activities Charitable Activities NET INCOMEI(EXPENDITURE) Transfers between funds 36,607 {18,240) 8,671 5,808 45,278 (12,432) 40,536 3,308 14 6,808 6,808) Net movement in lunds (11,432) (1,000) (12,432) 3,308 RECONCILIATION OF FUNDS Total funds brought forward 608,163 1,000 609,163 605,855 TOTAL FUNDS CARRIED FORWARD 596,731 596,731 609,163 The notes form part of these financial statements Page 7
Mone neena & District Develo I nitiative Ltd ment Statement of Financial Position 31 Janua 2023 31.1.23 31.1.22 Notes FIXED ASSETS Tangible assets 591,162 605,634 CURRENT ASSETS Debtors Cash at bank and in hand 10 4,950 3,120 6,950 1,093 8,070 8,043 CREDITORS Amounts falling due within one year (2,501) (4,515) NET CURRENT ASSETS 5,569 3,529 TOTAL ASSETS LESS CURRENT LIABILITIES 596,731 609,163 ACCRUALS AND DEFERRED INCOME NET ASSETS 596,731 609,163 FUNDS Unrestricted funds Restricted funds 14 596,731 608,163 1,000 TOTAL FUNDS 596,731 609,163 The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2023. The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2023 in accordance with Section 476 of the Companies Act 2006. The trustees acknowledge their responsibilities for (a) Complying with the requirements of the Act with respect to accounting records and the preparation of accounts The notes form part of these financial statements Page 8 continued...
Mone neena & District Develo Initiative Ltd ment Statement of Financial Position - continued 31 Janua 2023 These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime. The financial statements were approved by the Board of Trustees and authorised for issue on 27 October 2023 and were signed on its behalf by.. M Kelly - Trustee The notes form part of these financial statements Page 9
Mone neena & District Develo I nitiative Ltd ment Notes to the Financial Statements for the Year Ended 31 Janua 2023 ACCOUNTING POLICIES Basis of preparing the financial statements The financial staternents of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019),, Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. Income All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. Expenditure Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic beriefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is aGcounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis onsistent with the use of resources. Tangible fixed assets Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. Freehold property Plant and machinery straight line over 50 years 250/0 on reducing balance Taxation The charity is exempt from corporation tax on its charitable activities. Fund accounting Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Further explanation of the nature and purpose of eaGh fund is included in the notes to the financial statements. Page 10 continued..
Mone neena & District Develo Initiative Ltd ment Notes to the Financial Staternents - continued for the Year Ended 31 Janua 2023 DONATIONS AND LEGACIES 31.1.23 31.1.22 Donations 3,050 2,700 3,050 INCOME FROM CHARITABLE ACTIVITIES 31.1.23 31.1.22 Activity Charitable Activities Charitable Activities Charitable Activities Charitable Activities Charitable Activities Charitable Activities Charitable Activities Fundraising events Other Income Grants Hall Hire Gym Membership Community Allotments Management charge 6,325 1,604 14,479 3,060 2,160 333 2,184 1,858 598 34,720 1,710 612 1,295 30,145 40,793 Grants received, included in the above, are as follows.. 31.1.23 31.1.22 MUDC Community Venue MUDC CWSAN Community MUDC CFNI Grant Co-operation Ireland HaSifax DAERA MicrolCWSAN Community Finance Ireland Bank of Ireland MUDCIGreenfingers Workspace 3,000 3,000 750 3,000 1,000 3,010 14,005 3,000 1,265 12,000 450 1,469 1,250 2,000 14,479 34,720 Page 11 continued...
Mone neena & District Develo I nitiative Ltd ment Notes to the Financial Statements - continued for the Year Ended 31 Janua 2023 CHARITABLE ACTIVITIES COSTS Support costs (see note 5) Charitable Activities 45,278 SUPPORT COSTS Governance costs Charitable Activities 45,278 NET INCOMEI(EXPENDITURE) Net incomel(expenditure) is stated after chargingl{crediting): 31.1.23 31.1.22 Depreciation owned assets 25,816 26,914 TRUSTEES, REMUNERATION AND BENEFITS There were no trustees, remuneration or other benefits for the year ended 31 January 2023 nor for the year ended 31 January 2022. Trustees. expenses There were no trustees, expenses paid for the year ended 31 January 2023 nor for the year ended 31 January 2022. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted Restricted funds funds Total funds INCOME AND ENDOWMENTS FROM Donations and legacies 3,050 3,050 Charitsble activities Charitable Activities 18,523 22,270 40,793 Total 21,573 22,271 43,844 EXPENDITURE ON Charitable activities Charitable Activities NET INCOMEI(EXPENDITURE) 37,536 (15,963) 3,000 19,271 40,536 3,308 Page 12 continued...
Mone neena & District Develo I nitiative Ltd ment Notes to the Financial Statements - continued for the Year Ended 31 Janua 2023 COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES- continued Unrestricted Restricted Total funds funds funds Transfers between funds 18,271 18,271 Net movement in funds 2,308 1,000 3,308 RECONCILIATION OF FUNDS Total funds brought forward 605,855 605,855 TOTAL FUNDS CARRIED FORWARD 608,163 1,000 609,163 TANGIBLE FIXED ASSETS Fixtures and fittings Freehold property Plant and machinery Totals COST At 1 February 2022 Additions 702,492 4,125 111,991 3,569 3,705 3,650 818,188 11,344 At 31 January 2023 706,617 115,560 7,355 829,532 DEPRECIATION At 1 February 2022 Charge for year 155,388 14,050 56,001 11,258 1,165 508 212,554 25,816 At 31 January 2023 169,438 67,259 1,673 238,370 NET BOOK VALUE At 31 January 2023 537,179 48,301 5,682 591,162 At 31 January 2022 547,104 55,990 2,540 605,634 Page 13 continued...
Mone neena & District Develo Initiative Ltd ment Notes to the Financial Statements - continued for the Year Ended 31 Janua 2023 10. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.1.23 31.1.22 Other debtors 4,950 6,950 4,950 6,950 11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.1.23 31.1.22 Bank loans and overdrafts (see note 12) Other Creditors VAT Loan Sports Fund Accrued expenses 81 355 675 1,000 2,840 2,065 2,501 4,515 12. LOANS An analysis of the maturity of loans is given below.. 31.1.23 31.1.22 Amounts falling due within one year on demand.. Bank overdrafts 13. ANALYSIS OF NET ASSETS BETWEEN FUNDS Unrestricted Restricted funds funds 31.1.23 Total funds 31.1.22 Total funds Fixed assets Current assets Current liabilities Accruals and deferred income 491,752 157,782 (52,803) 99,410 (149,712) 50,302 591,162 8,070 (2,501) 605,634 8,044 (4,515) 596,731 596,731 609 163 Page 14 continued...
Mone neena & District Develo I nitiative Ltd ment Notes to the Financial Statements - continued for the Year Ended 31 Janua 2023 14. MOVEMENT IN FUNDS Net movement in funds Transfers between funds At 31.1.23 At 1.2.22 Unrestricted funds General fund Charitable Activities Revenue Grant 589,507 6,206 12,450 (18,240) 6,808 578,075 6,206 12,450 608,163 (18,240) 6,808 596,731 Restricted funds Revenue Grant Capital Grant 1,311 5,808 (2,587) 4,532 1,000 5,808 6,808 TOTAL FUNDS 609,163 12432) 596,731 Net movement in funds, included in the above are as follows: Incoming Resources Movement resources expended in funds Unrestricted funds General fund 18,367 (36,607) {18,240) Restricted funds Revenue Grant 14,479 (8,671) 5,808 TOTAL FUNDS 32,846 45,278) 12,432) Page 15 continued.
Mone neena & District Develo I nitiative Ltd ment Notes to the Financial Statements - continued for the Year Ended 31 Janua 2023 14. MOVEMENT IN FUNDS - continued Comparatives for movement in funds Net movement in funds Transfers between funds At 31.1.22 At 1.2.21 Unrestricted funds General fund Charitable Activities Revenue Grant 599,649 6,206 (28,413) 18,271 589,507 6,206 12,450 12,450 605,855 {15,963) 18,271 608,163 Restricted funds Revenue Grant Capital Grant 1,311 1,311) 1,311 311) 19,271 18,271) 19,271 1,000 TOTAL FUNDS 605,855 3,308 609,163 Comparative net movement in funds. included in the above are as follows: Incoming Resources Movement resources expended in funds Unrestricted funds General fund Revenue Grant 9,123 12,450 {37,536) (28,413) 21,573 (37,536) (15,963) Restricted funds Revenue Grant Capital Grant 3,000 19,271 (3,000) 19,271 22,271 3,000 19,271 TOTAL FUNDS 43,844 40,536) 3,308 Page 16 continued...
Mone neena & District Develo I nitiative Ltd ment Notes to the Financial Statements - continued for the Year Ended 31 Janua 2023 15. RELATED PARTY DISCLOSURES The Charity purchased land from Trustee M Kelly during the year, totalling £4,125. Page 17
Mone neena & District Develo Initiative Ltd ment Detailed Statement of Financial Activities for the Year Ended 31 Janua 2023 31.1.23 31.1.22 INCOME AND ENDOWMENTS Donations and legacies Donations 2,700 3,050 2,701 3,051 Charitable activities Fundraising events Other Income Grants Hall Hire Gym Membership Community Allotments Management charge (Hudy's Café) 6,325 1,604 14,479 3,060 2,160 333 2,184 1,858 598 34,720 1,710 612 1,295 30,145 40,793 Total incoming resources 32,846 43,844 EXPENDITURE Support costs Governance costs Rates and water Insurance Light and heat Telephone Accountancy fees Repairs & Maintenance Cleaning & consumables Bank fees Health & Safety Advertising Bank Fees Sundries Subscriptions & licences Fire Safety & Maintenance Entertainment Licence Christmas Event Carried foNard 809 2,429 8,564 696 813 1,250 728 155 940 2,278 7,189 369 1,028 259 41 118 291 150 150 390 167 478 151 16,380 552 13,622 This page does not form part of the statutory financial statements Page 18
Mone neena & District Develo Initiative Ltd ment Detailed Statement of Financial Activities for the Year Ended 31 Janua 2023 31.1.23 31.1.22 Governance costs Brought forward Vat annual adjustment Printing and Stationery Women's Training Programme Freehold property depreciation Plant and machinery depreciation 16,380 46 31 3,005 14,050 13,622 13,796 13,118 45,278 40,536 Total resources expended 45,278 40,536 Net (expenditure)lincome 12,432) 3,308 This page does not form part of the statutory financial statements Page 19