REGISTERED COMPANY NUMBER: N1035510 (Northern Ireland) REGISTERED CHARITY NUMBER: 101083 ort of the Trustees and Unaudited Financial Statements for the Year Ended 31 Janua 2024 for Mone neena & District Develo Initiative 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 2024 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 Initiative Ltd ment Re ort of the Trustees for the Year Ended 31 Janua 2024 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 2024. 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 occupation, 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 2024 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 health & wellbeing group, horticultural group, children's club, and 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 classes 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 resource. 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 activities have helped to achieve the charity's purposes and provide a benefit to the beneficiaries. Page 2
Mone neena & District Develo Initiative Ltd ment ort of the Trustees for the Year Ended 31 Janua 2024 FINANCIAL REVIEW Financial position The financial statements show a deficit for the year of £11,181 (31.1.23 Deficit £12,432) Net assetslfunds £585.550 (31.1.23 £596,731). Performance model used to account for grants resulting in capital government grants shown on the SOFA. Capital Grants received this year were £1,941 and shown on the SOFA. Excluding these grants, the Charity has a normal operating nett deficit for the year of £13,122. (3111123 nett deficit from normal operating activities £18,151.) 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 2024 Trustees S F Bradley J A Bradley M Kelly Ms R M Logue Ms S Mcwilliams (resigned 12.9.24) C Mc Williams (deceasedlresigned12.9.24) M P Murray P Ui Raifeartaigh S Laird M Bovill Ni Bhrochain (resigned 12.10.23) C Corry Independent Examiner W McGillian W MCGILLIAN & CO LTD Unit A2, Workspace 5-7 Tobermore Road Draperstown Derry BT45 7AG Bankers AIB Bank (Nl) Wellington Street Ballymena Approved by order of the board of trustees on behalf by: Ii.E)..J. 3+.:.............. and signed on its M 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 2024, 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 independent 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 Practice 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 examinerfs 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 Northern Ireland, I have found no matters that require drawing to your attention. McGillian 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 Is- L4 Page 6
Mone neena & District Dev810 I nitiative Ltd ment statement of Financial Activities for the Year Ended 31 Janua 2024 31.1.24 Total funds 31.1.23 Total funds Unrestricted Restricted funds funds Notes INCOME AND ENDOWMENTS FROM Donations and legacies 4,001 4,000 2,700 Charitable activities Charitable Activities 18,853 8,693 27,546 30,145 Total 22,854 8,693 31,546 32,846 EXPENDITURE ON Charitable activities Charitable Activities 35,976 6,751 42,727 45,278 NET INCOMEI{EXPENDITURE) Transfers between funds (13,122) 1.941 1,941 1.941) (11,181) (12,432) 14 Net movement in funds (11,181) (11 181) (12,432) RECONCILIATION OF FUNDS Total funds brought forward 596,731 596,731 609.163 TOTAL FUNDS CARRIED FORWARD 585,550 585,550 596,731 The notes form part of these financial statements Page 7
Mone neena & District Develo Initiative Ltd ment Statement of Financial Position 31 Janua 2024 31.1.24 31.1.23 Notes FIXED ASSETS Tangible assets 574,398 591,162 CURRENT ASSETS Debtors Cash at bank and in hand 10 7,950 5,184 4,950 3,120 13,134 8,070 CREDITORS Amounts falling due within one year (1.982) (2,501} NET CURRENT ASSETS 11,152 5,569 TOTAL ASSETS LESS CURRENT LIABILITIES 585,550 596,731 ACCRUALS AND DEFERRED INCOME NET ASSETS 585.550 596,731 FUNDS Unrestricted funds Restricted funds 14 585,550 596,731 TOTAL FUNDS 585,550 596,731 The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024. The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 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 2024 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 and were signed on its behalf by.. M Kelly - Trustee The notes form part of these financial statements Page 9
Mone neena & District Develo Initiative Ltd ment Notes to the Financial Statements for the Year Ended 31 Janua 2024 ACCOUNTING POLICIES Basis of preparing the financial statements The financial statements 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 benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted 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 consistent 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 25 % 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 each fund is included in the notes to the financial statements. Page 10 continued...
Mone neena & District Develo Initiative Ltd ment Notes to the Financial Statements - continued for the Year Ended 31 Janua 2024 DONATIONS AND LEGACIES 31.1.24 31.1.23 Donations 4,000 2,700 4,000 2,700 INCOME FROM CHARITABLE ACTIVITIES 31.1.24 31.1.23 Activity 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(Hudy's cafe) Rent 7,805 1,122 8,693 4.045 2,283 142 6.325 1,604 14,479 3,060 2,160 333 Charitable Activities Charitable Activities 2.271 1,185 2,184 27,546 30,145 Grants received. included in the above, are as follows." 31.1.24 31.1.23 MUDC Community Venue MUDC CWSAN Community CFNI Mid Ulster District Council DAERA Microl CWSAN MUDC Greenfingers Workspace 4,350 3,000 3,000 750 3,010 2,400 625 1.318 1,469 1,250 2,000 8.693 14,479 Page11 continued...
Mone neena & District Develo Initiative Ltd ment Notes to the Financial Statements - continued for the Year Ended 31 Janua 2024 CHARITABLE ACTIVITIES COSTS Support costs (see note 5) Charitable Activities 42,727 SUPPORT COSTS Governance costs Charitable Activities 42,727 NET INCOMEI(EXPENDITURE) Net incomel(expenditure) is stated after chargingl(crediting): 31.1.24 31.1.23 Depreciation - owned assets 24.402 25,816 TRUSTEES. REMUNERATION AND BENEFITS There were no trustees, remuneration or other benefits for the year ended 31 January 2024 nor for the year ended 31 January 2023. Trustees. expenses There were no trustees, expenses paid for the year ended 31 January 2024 nor for the year ended 31 January 2023. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted Restricted funds funds Total funds INCOME AND ENDOWMENTS FROM Donations and legacies 2,701 2,701 Charitable activities Charitable Activities 15,666 14,479 30,145 Total 18,367 14,479 32,846 EXPENDITURE ON Charitable activities Charitable Activities 36,607 8,671 45,278 Page 12 continued...
Mone neena & District Develo Initiative Ltd ment Notes to the Financial Statements - continued for the Year Ended 31 Janua 2024 COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES- continued Unrestricted Restricted Total funds funds funds NET INCOMEI(EXPENDITURE) Transfers between funds (18,240) 6,808 5,808 6,808) (12,432) Net movement in funds (11,432) (1,000) (12,432) RECONCILIATION OF FUNDS Total funds brought forward 608,163 1,000 609,163 TOTAL FUNDS CARRIED FORWARD 596,731 596,731 TANGIBLE FIXED ASSETS Fixtures and fittings Freehold property Plant and machinery Totals COST At 1 February 2023 Additions 706,617 6,375 115,560 7,355 1,263 829,532 7,638 At 31 January 2024 712,992 115.560 8,618 837.170 DEPRECIATION At 1 February 2023 Charge for year 169,438 14,249 67,259 9,017 1,673 1,136 238.370 24.402 At 31 January 2024 183,687 76,276 2,809 262,772 NET BOOKVALUE At 31 January 2024 529,305 39,284 5,809 574,398 At 31 January 2023 537,179 48,301 5.682 591,162 Page 13 continued...
Mone neena & District Develo Initiative Ltd ment Notes to the Financial Statements - continued for the Year Ended 31 Janua 2024 10. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.1.24 31.1.23 other debtors 7,950 4,950 7,g50 4,950 11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.1.24 31.1.23 Bank loans and overdrafts (see note 12) other Creditors VAT Accrued expenses 81 355 2,065 252 1,730 1,982 2.501 12. LOANS An analysis of the maturity of loans is given below.. 31.1.24 31.1.23 Amounts falling due within one year on demand: Bank overdrafts 13. ANALYSIS OF NET ASSETS BETWEEN FUNDS 31.1.24 Total funds 31.1.23 Total funds Unrestricted Restricted funds funds Fixed assets Current assets Current liabilities Accruals and deferred income 474,988 162.844 (52,282) 99.410 (149,710) 50,300 574,398 13.134 (1,982) 591,162 8,070 (2,501) 585.550 585,550 596,731 Page 14 continued...
Mone neena & District Develo Initiative Ltd ment Notes to the Financial Statements - continued for the Year Ended 31 Janua 2024 14. MOVEMENT IN FUNDS Net movement in funds Transfers bebNeen funds At 31.1.24 At 1.2.23 Unrestricted funds General fund Charitable Activities Revenue Grant 578,075 6,206 12,450 (13,123) 1,941 566,893 6,206 12,450 596,731 (13,123) 1,941 585,549 Restricted funds Revenue Grant Capital Grant 4,532 1,941 (1,941) 4,533 4,532) 1,941 TOTAL FUNDS 596,731 11,181) 585,550 Net movement in funds. included in the above are as follows: Incoming Resources Movement resources expended in funds Unrestricted funds General fund 22,854 (35,977) (13,123) Restricted funds Revenue Grant 8,692 {6.750) 1.942 TOTAL FUNDS 31,546 42.727) 11,181) Page 15 continued...
Mone neena & District Develo I nitiative Ltd ment Notes to the Financial Statements - continued for the Year Ended 31 Janua 2024 14. MOVEMENT IN FUNDS - continued Comparatives for 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 TOTAL FUNDS 609,163 12,432) 596,731 Comparative 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 16 continued...
Mone neena & District Develo Initiative Ltd ment Notes to the Financial Statements - continued for the Year Ended 31 Janua 2024 15. RELATED PARTY DISCLOSURES The Charity purchased land from Trustee M Kelly during the year, totalling £6,375. Page 17
Mone neena & District Develo Initiative Ltd ment Detailed Statement of Financial Activities for the Year Ended 31 Janua 2024 31.1.24 31.1.23 INCOME AND ENDOWMENTS Donations and legacies Gifts Donations 4.000 2,700 4,000 2,700 Charitable activities Fundraising events Other Income Grants Hall Hire Gym Membership Community Allotments Management charge(Hudy's cafe) Rent 7,805 1,122 8,693 4,045 2.283 142 2.271 1,185 6,325 1,604 14,479 3,060 2,160 333 2,184 27,546 30,145 Total incoming resources 31,546 32,846 EXPENDITURE Support costs Governance costs Rates and water Insurance Light and heat Telephone Accountancy fees Repairs & Maintenance Cleaning & consumables Advertising Bank Fees Sundries Subscriptions & licences Fire Safety & Maintenance Entertainment Licence Christmas Event Carried forward 1.340 2,491 8,340 735 1,093 417 809 2,429 8,564 696 813 1,250 728 150 161 150 80 195 20 514 478 436 15,661 151 16,380 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 2024 31.1.24 31.1.23 Governance costs Brought forward Vat annual adjustment Printing and Stationery Events Women's Training Programme Freehold property Plant and machinery 15.661 23 16,380 46 31 250 2,391 14,249 10,153 3,005 14,050 11,766 42,727 45,278 Total resources expended 42,727 45,278 Net expenditure 11.181) 12,432) This page does not form part of the statutory financial statements Page 19