REGISTERED COMPANY NUMBER: N1035510 (Northern Ireland) REGISTERED CHARITY NUMBER: 101083 ort of the Trustees and Unaudited Financial Statements for the Year Ended 31 Janua 2025 for Mone neena Districl Develo Initiative Ltd ment W McGillian & Co &7 Tobermore Road Draperstown BT45 7AG
Mone neena & District Develo Initiative Ltd ment Contents of the Financial Statements for the Year Ended 31 Janua 2025 Page Report of the Trustees Independent Examinevs Report Statement of Financial Activities Statement of Financial Position Notes to the Flnancial Statements 10 to 17 Detailed Statement of Financiel Activities 18 to 19
Mone neena & District Develo Initiative Ltd ment ort of Ihe Trustees for the Year Ended 31 Janua 2025 The trustses who are also directors of the charity for the purposes of the Companie5 Act 2006, pr8s8nt their report with the financial statements of the charity for the y8ar ended 31 January 2025. The trustees have adopted the provisions of Accounting and Reporting by Charities: Staternent 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.. - lo relieve poverty. sickness and the aged and to promote the benefit of the Inhabltants of the Moneyneena and district area of Co. Dery and Its environs (hereinafter described as "the area of benefit") without distinction of age, sex, race, political religious or other opinion, by associatlng voluntary organisations and inhabltants in a common effort to advance education, and to provide faGilities in the interests of social welfare for recreation or other lelsure-time occupation, with the object of improving the Conditions of life for the said Inhabit8nts. Page 1
Mone neena & District Develo Initiative Ltd ment Re ort of the Trustees for the Year Ended 31 Janua 2025 OBJECTIVES AND ACTIVITIES Public benefit The organisation h8s developed and bullt 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. Educatlonal classes are held with the support of local training organisations and f8cllitstors and include first aid, arts 2nd crafts, cooking, yoga, keep fit and horticulture. 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 w811 attended throughout the year and our concerts, drama and olher entertalnment nights continue to be popular, addressing social exclusion within a rural area with limited access to services. The Centre is open lo all providing an invaluable resource for local people from withSn the communlty and beyond. 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 build up resources at the facllity, supportlng volunteers to carry out their roles and dutles. Additionally, we continue lo improve our Christmas decorations each year with the help from the local council. The Board have continued to develop n8w project ideas which specifically focus on creatlng access to local services provision in the Moneyneena area Including health 8nd well-being and continue to investigate the linkage of the An Rath Dubh site to Moydamlaght Forest. The Group are worklng with a number of organisations including the local Council to help progress these ideas and11 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 prlvate gain to any Individual member. In settSng our objectives and planning our actlvlties for the year the trustees have given careful on5ideration 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 neens & District Devélo Initiative Ltd ment Re ort of Ihe Trustees for the Year Ended 31 Janua 2025 FINANCIAL REVIEW Financial position The financial statements show a deficit for the year of £14,073 {31.1.24 Daficit £11,181) Net assetslfunds £571,477 (31.1.24 £558,550). Performance model used to account for grants resulting in capita5 government grants shown on the SOFA.Capital Grants received this year were £1.833 and shown on the SOFA. Excluding these grants, the Charity has a normal operating nett deficit for the year of £15,906. (3111124 nett deficit from normal operating activities £13,122.) Depreciation of c8Pltal assets totalling £23,089 Is recorded as an expense In the flnancial statements. Thls is a non-cash expense. 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 8 limited company, limited by guarantee, as d8fin8d by the Companies Act 2006, Organisational structur¢ The management committee of Moneyneena & Distrlct Development Initiative Ltd admlnlsters the charity. Monthly meetings ar8 normally held to dlscuss 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 agalnst fraud and error. REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number N1035510 (Northern Ireland) Registered Charlty number 101083 Reglstered office 53 Moneyneena Road Draperstown Co. De BT45 7EN Trustees S F Bradley J A Bradley Kelly Ms R M Logue Ms S Mcwilliams (resigned 12.9.241 C Mcwilliams (resigned 12.9.24) M P Murray P Ui Raifeartaigh S Laird C Corry Page 3
Mone neena & District Develo Initiative Ltd ment Re ort of the Trustees for the Year Ended 31 Janua 2025 REFERENCE AND ADMINISTRATIVE DETAILS Independent Examiner K Magill - Chartered Accountant W McGillian & Co 5-7 Tobermore Road Draperstown BT45 7AG Banker6 AIB Bank (Nl) Wellington Street Ballymena Approved by order of the board of trustees on behalf by". and signed on its M Kelly - Trustee Page 4
Inde endent Examinerfs Re ort to the TrLJStees of Mone neena & District Develo ment Initiative Ltd I report on the accounts of the wrnpany for the year ended 31 January 2025, which are set out on pages seven to seventeen. Respectlve responsibilities of charlty trustees and examtner 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 Charlty Commission for Northern Ireland under Section 65(9)(b) of the Charities Act slate whether particular matters have come to my attention. Basls of the Independent examiner's report I have examined your charity accounts as required under Section 65 of the Charities Act and my examination was carrled out in accordance with the general Directions given by the Charlty Commlssion for Northern Ireland under Section 65(91(b) of the Ch8rities Act, The examination included a review of the accounting records kept by the charity and a compari50n of the accounts presented with those records. It also included consideration of any unusual items or disclosures in the accounts, and seeklng explanations from you as charily trustees concerning any such matters. My rol8 IS to state whether any material matters have come to my attention giving me cause to belleve: Th8t accounting records were not kept in aG¢ordance with Section 386 of the Companies Act 2006 That the accounts do not accord with those accounting records That the accounts do not comply wlth the accounting requirements of Section 396 of the Companies Act 2006 and with the methods and prlnclples of the Charities Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reportlng 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 rny examination and have no concems In respect of the matters (1) to (4) Ilsted 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. K Magill - Chartered Accountant W McGillian & Co 5-7 Tobermore Road Draperstown BT45 7AG Date.. lo Page 5
Mone neena & District Develo Initiative Ltd ment Statement of Financial Activities for the Year Ended 31 Janua 2025 31.1,25 Total funds 31.1.24 Total funds Unrestricted Restricted funds fund5 Notes INCOME AND ENDOWMENTS FROM Donations and legacies 6,750 6,750 4,000 Charitable aGtivities Charltable Actlvities 15,205 6,208 21.413 27,546 Total 21,955 6.208 31,546 EXPENDITURE ON Charltable activltles Charltable Activities 38,486 42,236 NET INCOMEIIEXPENDITURE) Transfers between funds (16,531) 2,458 2,4Jf8 (14,073) (11,181) 14 Net movernent in funds (14,073) (14,073) (11,181) RECONCILIATION OF FUNDS Total funds brought forward 585,550 585,550 596,731 TOTAL FUNDS CARRIED FORWARD 571477 571,477 585,550 The notes form part of these financial statements Page 7
Mone neena & District Develo Initiative Ltd menl Statement of Financial Position 31 Janua 2025 31.1.25 31.1.24 Notes FIXED ASSETS Tangible assets 553,494 574,398 CURRENT ASSETS Debtors Cash at bank and in hand 10 10,700 9,927 7,950 5,184 20,627 13,134 CREDITORS Amounts falling due within one year (2,644) (1,982) NET CURRENT ASSETS 17,983 11,152 TOTAL ASSETS LESS CURRENT LIABILITIES 571,477 585.550 ACCRUALS AND DEFERRED INCOME NET ASSETS 571,477 585 550 FUNDS Unrestricted funds Restrfcted funds 14 571,477 585.550 TOTAL FUNDS 571,477 585,550 The charitable company is entitled to exemption frorn audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2025. The Members have not required the company to obtain an audlt of its flnancSal statements for the year ended 31 January 2025 in accordance with Section 476 of the Companies Act 2006. The trustees acknowledge their responsibilities for la) 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 2025 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 ..I,-l L< and were signed on its behalf by: M Kelly- Trustee The noles 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 2025 ACCOUNTING POLICIES Basls of preparlng the flnanclal statements The financial statements of the charllable 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 Charilies.. 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 Financi21 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. IncoTne All income is recognised in the Statement of Financial Activities once Ihe charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured rellably. Expenditure Liabilities are recognised as expenditure as soon as there Is a legal or constructlve 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 headlngs that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to actlvltles on a basis conslstent with the use of resources. Tanglble flxed assets Depreciation is provided at the followlng annual rates in ord8r to write off each asset over its eslimated useful life. Freehold property Plant and machinery Straight line over 50 years 250/0 on reducing balance Taxatlon The charity is exempt from corporation tax on its charitable activities. Fund aGcountlng Unrestricted funds can be used in accordanca with tha charitable obj8Ctiv&s 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 specifiecf 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 Initialive Ltd ment Notes to the Financial Statements- continued for the Year Ended 31 Janua 2025 DONATIONS AND LEGACIES 31.1.25 31.1.24 Donations 6,750 INCOME FROM CHARITABLE ACTIVITIES 31.1.25 31.1.24 Activity Fundraising events Charitable Activities Other Income Charitable Activities Grants Charitable Actlvities Hall Hire Charitable Actlvlties Gym Membership Charitable Activitles Community Allotments Charitable Activlties Management charge(Hudy's cafe) R8nt 6,770 1,003 6,208 3,213 7,805 1,122 8,693 4,045 2,283 142 17 Charitable Activities Charltable Acuvitles 3,017 2,271 Grants received, included in the above, are as follow5.' 31.1.25 31.1.24 MUDC Community Venue CFNI Mid Ulster Dlstrlct Council DAERA Microl CWSAN 4,375 4,350 2,400 625 1,318 1,833 6,208 8,693 CHARITABLE ACTIVITIES COSTS Support costs (see note 5) Charitable Activities 42,236 Page11 continued...
Mone neena & District Develo Initiative Ltd ment Notes to the Financial Statements - continued for Ihe Year Ended 31 Janua 2025 SUPPORT COSTS Governance costs Charitable Activities 42,236 NET INCOMEI(EXPENDITUREJ Net incomel(expendlture} is stated after chargingl(crediting)'. 31.1.25 31.1.24 D8preciation - owned assets 23.069 24,402 TRUSTEES, REMUNERATION AND BENEFITS There were no trustees, remun6ratlon or other benefits for the year ended 31 January 2025 nor for the year ended 31 January 2024. Trustees, expenses There were no trustees, expenses paid for the year ended 31 January 2025 nor for the year ended 31 January 2024. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted funds Restrlcted funds Total INCOME AND ENDOWMENTS FROM Donations and legacies 4,000 4,000 Charitable actlvltles Charitable Activities 18,853 27.546 Total 22,854 8,692 31,546 EXPENDITURE ON Charitable activities Charitable Activities 35,976 6.751 42,727 Page 12 continued
NET INCOMEI{EXPENDITURE) Transfer5 between funds (13,122) 1,941 1,941 (11.181) Net movement in funds (11,181) (11,181) RECONCILIATION OF FUNDS Total funds brought forward 596,731 596,731 TOTAL FUNDS CARRIED FORWARD 585,550 585,550 Page 12 continued
Mone neena & District Develo Initiative Ltd ment Notes to the Financial Statements - continued for the Year Endecl 31 Janua 2025 TANGIBLE FIXED ASSETS Fixtures and fittings Freehold property Plant and machinery Totsls COST At l February 2024 Addltlons 712,992 115,560 8.618 837.170 2,165 At 31 January 2025 712,992 117725 8,618 839,335 DEPRECIATION At 1 February 2024 Charge for year 183,687 14,132 76,276 8,028 2.809 909 262,772 23,069 At 31 January 2025 197 819 84,304 285 841 NET BOOK VALUE At 31 January 2025 515 173 4,900 553,494 At 31 January 2024 529,305 5.809 574 398 10, DEBTORS: AMOUNTS FALLING DUE wrrHIN ONE YEAR 31.1,25 31.1.24 Other debtors 10,700 7,950 7,950 Page13 continued...
Mone neena & District Develo Initiative Ltd ment Notes to the Financial Statements - continued for the Year Ended 31 Janua 2025 11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.1.25 31.1.24 Trade creditors VAT Accrued expenses 834 252 1,730 2,644 12. LOANS An analysis of the maturlty of loans is glven below., 31.1.25 31.1.24 Amounts falling due wlthin one year on demand: Bank overdrafts 13. ANALYSIS OF NET ASSETS BETWEEN FUNDS 31.1.25 Total funds 31.1.24 Total funds Unrestrlcted Restricted funds funds Fixed assets Current assets Current liabllities Accruals and deferred income 553,494 20,627 (2,644) 553,494 20,627 (2,644) 574,398 13,134 (1,982) 571,477 571,477 585,550 Page 14 continued,..
Mone eena & District Develo Initiative Ltd ment Notes to the Financial Statements - continued for the Year Ended 31 Janua 2025 14. MOVEMENT IN FUNDS Net movement in funds Transfers between funds At 31.1.25 At 1.2.24 Unrestrlcted fund5 General fund Charitable Activities Revenue Grant 566,893 6,206 12,450 (16,531) 2,458 552,820 6,206 12,450 585,549 (16,531) 2,458 571,478 Restrlcted funds Revenue Grant Capital Grant 4,533 625 (625) 4,533 TOTAL FUNDS 585,550 14 073) 571,477 N8t movement in funds, Included in the above are as follows: Incoming Resources Movement resources expended in funds Unr6strlcted funds General fund 21,955 {38,486) (16,531) Restricted funds Revenue Grant Capital Grant 4,375 1,833 (3,750) 625 1,833 2,458 TOTAL FUNDS 28,163 Page15 continued...
Mone neena & District Develo Initialive Ltd ment Notes to the Financial Statements - continued for the Year Ended 31 Janua 2025 14. MOVEMENT IN FUNDS - continued Comparatives for movement In funds Net movement In funds Transfers bemeen funds At 31.1.24 At 1,2.23 Unrestrlcted funds General fund Charitable Activltles Revenue Grant 578,075 6,206 12,450 (13,123) 1,942 566,894 6,206 596,731 (13,123) 1,942 585,550 Restrlcted fund5 Revenue Grant Capital Grant 4,532 1,942 (1,942) 4,532 TOTAL FUNDS 596 731 11.181) 585,550 Comperative net movernent in funds, included in the above are as follows: Incoming Resources Movement resources expended in funds Unrestrlcted funds General fund 22,854 (35,977) (13,123) Restrlcted funds Revenue Grant 8,692 {6,750) 1,942 TOTAL FUNDS 31,546 42,727) 11,181) Page16 continued...
Mone neena & District Dévelo Initiative Ltd mènt Notes to the Financial Statements - continued for the Year Ended 31 Janua 2025 15. RELATED PARTY DISCLOSURES There were no related party transactions for the year ended 31 January 2025. Page 17
Mone neena & District Develo Initiative Ltd ment Detailed Statement of Financial Activities for the Year Ended 31 Janua 2025 31.1.25 31.1.24 INCOME AND ENDOWMENTS Donations and legacies Donations 6,750 4,000 Charitable actlvltles Fundralsing events Other Income Grants Hall Hire Gym Membership Community Allotments Management charge (Hudls cafe) Rent 6,770 1,003 6,208 3,213 7,805 1,122 8.693 4,045 2,283 142 2,271 1,185 17 3,017 21,413 27,546 Total incomlng resources 28,163 31,546 EXPENDITURE Support cosls Governance costs Rates and water Insurance Light and heat Telephone Accountancy fees Repairs & Malntenance Advertlsing Bank Fees Charitable donation Subscriptions & linceS Fire Safety & Maintenance Entertalnment Licence Christmas Event Vat annual adjustrnent Events Women's Training Programme Freehold property depreciation Plant and machinery depreciation 1.398 2.689 8.025 835 1,172 300 139 186 1,150 1.340 2,491 8,340 735 1,093 417 80 195 20 S14 589 250 1,632 802 436 23 250 2,391 14,249 10,153 14,132 8,937 42,236 42,727 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 En(Jed 31 Janu8 2025 31.1.25 31.1.24 Total resources expended Nat expenditure 14,073) 11,181) This page does not form part of the statutory financi81 statements Page 19