Company registration number.. N1032592 Charity registration number.. 101173 Northern Area Community Network Limited (A company limited by guarantee) Annual Report and Financial Statements for the Year Ended 31 March 2024
Northern Area Community Network Limited Contents Referen¢e and Administrative Details Trustees, Report 2to4 Independent Examiner's Report Statement of Financial Activities Balance Sheet Notes to the Financial Statements 8t014
Northern Area Community Network Limited Reference and Administrative Details ChAirman James McKay Trustees James McKay Mary Gilmore Robert McIlroy Lexie Scott William Colvin James Mulholland Secretary Mary Gilmore Charity Registration Number 101173 Company RegistrAtion Number N1032592 The charity is incorporaÉed in Northern Ireland. Old School House 25 Mill Street Cushendall Ballymena Co. Antrim B T44 ORR Registered Office Independent Examiner D T Carson & Co Chartered Accountants 51-53 Thomas Streel Ballymena Co. Antrim BT43 6AZ Bankers Danske Bank 1-2 Broadway Avenue Ballymena Co Antrim BT43 7AA Page I
Northern Area Community Network Limited Trustees, Report The trustees, who are directors for the purposes of company law. present the annual report together with the financial statements of the charitable company for the year ended 31 March 2024. Objectives and activities Objecls und aitrLS The principal activity of the charity is to promote community development and networking services to groups in the catchment area. Objeetives, strategies and qclivilies The primary aims of Northern Area Community Network Limited are to offer a Community development service to it's member groups and to focus on the practice of networking to allow community groups themselves to share knowledge and experience. The charity aims to provide an opportunity for rural Communities to have a voice and an influence, without compelling members to lose their chosen identity, adherence and different interests. Northern Area Community Network Limited provides community development support to communities tliroughout the Northern Area. The charity does this by detemiining and responding to the key issues impacting on the lives of rural people, and tackling poverty and social isolation. The charity is committed to other programmes such as rural development support for the community and voluntary sector, promoting mental health and suicide prevention and liealth and social wellbeing. The trustees do not expect the activities to change significantly during the incoming year. Public benefil Northern Area Community Network Limited undertakes work with local communities helping them address local health and well being needs and linking groups to various statutory and voluntary orgmnisations that can support them to tackle the wider deterniinants of healtli. The trustee5 confirm that they have complied with ihe requirements of the Charities Act 2008 to have due regard to the public benefit guidance published by tlic Charity Commission for Nortliern Ireland. Financial review The trustees can report an overatl decrease in incoming resource5 of the charity for the current year of £490,350 (2023 £567.259), as a result of reduced grant inwme. Total resources expended have also decreased from the previous year at £573,359 (2023 £635.169), due main5y to a reduction in project Costs. This resulted in an overall net deficit in funds of £83,009. compared to a net deficit in the previous year of £67,910. Total funds of the charity are Dow £164,624 and are allocated to restricted funds of £10,147 and unrestricted funds of £154,477. Policy on reserves In cal¢ulating the required level of reserves the charity takes iiito account the risks of income and expenditure being different from that budgeted, planned activity levels and development opportunities arising in th¢ near future. The trustees feel it 15 beneficial to hold an amount in unrestricted funds to cover riinning ¢osls for a period of nine months to ¢nabSe the company to continue at its current level of activity. Principalfunding sources Principal funding is received from the Public Health Agency and DAERA (Rural Community Development Support Programme). Page 2
Northern Area Community Netsvork Limited Trustees, Report Trustees and officers The trustees and officers serving during the year and since the year end were as follows: Trustees.. James McKay Mary Gilmore Robert M¢Ilroy Lexie Scott William Colvin James Mulholland Chairnian: James McKay Secretary: Mary Gilmore Strueturej governanee and management Nalure ofgoverning dts¢umen¢ Northern Area Commuiiity Network Limited i5 a company limited by guarantee and is also a recognised charity. For the purposes of Charity Law, the directors are also trustees of the Company. Statement of trustees, responsibilites The trustees (who are also the directors of Nortliern Area Community Network Limited for the pUoseS of company law) are responsible for preparing the trustees, report and the financial Statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland Company law requires the trustees to prepare financial statements for each financial year. Under company law the trustees must not approve the financial statements unless tliey are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including its income and expenditure, of the chmritable company for that period. In preparing these financial statements, the trustees are required to.. select suitable accounting policies and apply them consistently. observe the methods and priiiciples in the Charities SORP. make judgements and estimates that are reasonable and prudent. state whether applicable accounting standards, comprising FRS 102 have been followed, subject to any material departure5 disclosed and explained in tlie financial statements. and prepare the financial statements on the going concern basi5 unless it is inappropriate to presume that the charitable company will continue in business. The trustees are responsible for keeping proper accounting records that can disclose with reasonable accuracy at any time the financial position of the charitable coinpany and enable them to ensure that the financial statements comply with the Companies Act 2006and Cliarities Act (Northern Ireland) 2008. They are also responsible for safeguarding the assets of the rharitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularilies. The trustees are re5pon5ible for the maintenance and integrity of the corporate and financial inforniation included on the charitable company's website. Legislation governing the preparation and dissemination of financial statern¢nt5 may differ from legislation in other jurisdictions. Page 3
Northern Area Community Network Limited Trustees, Report The annual report was approved by the trustee5 of the charity on 16 September 2024 and signed on its behalf by= Mary Gilmore Company Secretary and Trustee Page 4
Northern Area Community Network Limited Independent Examiner's Report to the trustees of Northern Area Community Network Limited ('the Company,) I report to the charity trustee5 on my examination of the accounts of the Company for the year ended 31 March 2024. Responsibilities And basis of report As the charity's trustees of Northern Area Community Network Limited {and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in ac¢ordance with the requirements of the Companies Act 2006 ('the 2006 Act,). Having satisfied myself that the accounts of Northern Area Community Network Limited are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination. I report in respect of my examination of your charity's accounts as carried oiit under section 65 of the Charities Act (Northern Ireland) 2008. In carryiiig out iny examination I have followed the Directions given by the Charity Commission for Northern Ireland under section 65(9)(b) of the Charities Act. Independent examiner's $tAtement Since the Company's gross income exceeded £250,000 your examiner inusl be a member of a body listed in section 145 of the 201 l Act. I confirn) that l am qualified to undertake the examination because l am a member of Institute of Chartered Accountants in Ireland. which is one of the listed bodies. I have completed my examination. I confirni that no matters have come to my attention in connection with the examination giving me cause to believe: accounting records were not kept in respect of Northern Area Community Network Limited as required by section 386 of the 2006 Act- or 2. the accounts do not accord with those records. or 3. the a¢¢ounts do not comply with the accounting requirenients of section 396 of the 2006 Act other than any requirenient that the accounts give a 'true and fair view, whi¢h is not a matter considered as part of an independent examination. or 4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charitie5 preparing their accolints in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)]. I have no concerns and have come across no other matters in connection with the examination to which attention hould be drawn in this report in order tr) enable a proper understanding of the accounts to be reached. James Wallace Chartered Accountants Institute of Chartered Accountants in Ireland 51-53 Thoma5 Street Ballymena Co. Antrim BT43 6AZ 16 September 2024 Page 5
Northern Area Community Iyetwork Limited Statement of Financial Activities for the Year Ended 31 March 2024 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses) Unrestricted funds Restricted funds Tot21 2024 Note Income and Endowments from: Charitable activities Other income 459,44J 24.029 459,443 30,907 6.878 Total income 6,878 483,472 490,350 Expenditure on: Charitable activities (77.299) (496,060) (573.359) Total expenditure (77,299) (496,060) 573,359) Net expenditure (70.421) (12.588) (83.009) Net movement in funds (70,421) (12.588) (83.009) Reconciliation of funds Total funds brought forward 224,898 22,735 247.633 Total funds carried forward 15 154,477 Unrestricted funds 10,147 Restricted funds 164,624 Total 2023 Iyote Income and Endowments from: Charitable activities Other income 556.221 6.982 556,221 11,038 4,056 Total income 4.056 563,203 567.259 Expenditure on: Charitable activities (23,759) (611,410) (635,169) Total expenditure (23.759) (611.410) (635,169) Net expenditure {19.703) (48.207) (67,910) Net movement in funds (19,703) (48,207) (67,910) Reconciliation of funds Total funds brought forward Total fund5 carried forward 244,601 70,942 315,543 15 224,898 22.735 247,633 All of the charity's activities derive from continuing operations during the above two period5. The fvnds breakdown for 2023 is shown in note 15. The note5 on pages 8 to 14 fotm an integral part of these financial statements. Page 6
Northern Area Community Network Limited (Registration number: N1032592) Balance Sheet as at 31 March 2024 2024 2023 Note Fixed assets Tangible assets 6,782 5,960 Current assets Debtors Cash at bank and in hand 12 13 18.636 150,82J 11,359 241.278 169,459 252.637 Creditors: Amounts falling due within one year Net current assets 14 (11,617) (10,964) 157.842 241.673 Net asset5 164,624 247,633 Funds of the ¢hgTity: Restricted income funds Restricted 10,147 22.735 Unrestricted income funds Unrestricted 154,477 224,898 Total funds 15 164,624 247,633 For the financial year endiiig 31 March 2024 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relatiiig to small companies. Directors, re5ponsibilities'. The members have not required the charity to obtsin an audit of it5 accounts for the year in question in a¢¢ordance with section 476- and The directors acknowledge their responsibilities for complying with the requirements of the Act with respe¢t to accounting records and the preparation of accounts. Th¢ financial Statements on pages 6 to 14 were approved by the trustee5, and authorised for issue on 16 Septeinber 2024 and signed on their behalf by.. e5 McKay Chairman and Trustee Mary Gilmore Company Secretary and Trustee The notes on pages 8 to 14 form an integral part of these financial statements. Page 7
Northern Area Community Network Limited Notes to the Financial Statements for the Year Ended 31 March 2024 I Charity status The Charity is limited by guarantee, incorporated in Northern Ireland, and consequently does not have share capital. Each of the trustees is liable to contribute an amount not exceeding £1 towards tlie assets of the charity in the event of liquidation. The address of its registered office is.. Old School House 25 Mill Street Cushendall Ballymena Co. Antrim B T44 ORR These financial statements were authorised for issue by the trustees on 16 September 2024. 2 Aceounting policies Summary of signifitant accounting policies and key #etounting estimates The principal a¢counting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise ststed. Statement of Compliance The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with th¢ Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) {¢ffective l Janiiary 2015) - (Charitie5 SORP (FRS 102)), and the Companies Act 2006. Basis of preparation Northem Area Community Network Limited meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy not¢s. Going concern The financial statements have been prepared on a going concern basis as the trustees consider that there are no material uncertainties about tlie charity's ability to continue as a going conceni nor any significant areas of uncertainty that affect the carrying value of assets held by the charity. The trustees have considered both the level of fijnds held and the expected level of income and expenditure for 12 months from authorising these financial statements, taking into consideration all relevant factors. Exemption from preparing a ¢ash flow statement The charity opted to early adopt Bulletin I published on 2 February 2016 and have therefore not included a cash flow statement in these financial staternents. Page 8
Northern Area Community Network Limited Notes to the Financial Statements for the Year Ended 31 March 2024 Income Income from charitable activities includes income recogiiised as earned (as the related goods or services are provided) under contract or where entitlement to grant funding is subject to speclfic perfomiance conditions. Grant income included in this catergory provides thnding to support programme activity and is recognised where there is entitlement. certainty of receipt and the amounts can be measured with sufficient reliability. Expenditure All expenditure is recognised once there is a legaI or constructive obligation to that expenditure. it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Wliere Costs Cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset's use. Other support costs are allocated based on the spread of staff costs. Charitable activilies Charitable expenditure coinprises those Costs incurred by the charity in the delivery of its activities and services for it5 beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them. Governance costs These include the costs attributable to the charity's compliance with constitutional and statutory requirements, including audit. strategi¢ management and trustees meetings and reimbursed expenses. Tgxation The charity is considered to pass the tests set out in Paragraph I Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt froin taxation in respect of income or capital gains received within ¢ategories covered by Chapter 3 Part I l of the Corpordtion Tax Act 2010 or Section 256 of the Taxation of Chargeable Gain5 Act 1992, to the ex¢ent that such income or gains are applied exclusively to charitable purposes. Tangible fjxed assets Individual fixed assets are initially recorded at cost. less any subsequent accumulated d¢preGiation and subsequent accurnulated impaiment losses. Depreciation and amortisation Depreciation is provided on tangible fixed assets so as to write off the cost or valuation. less any estimated residual value. over their expected useful economic life as follows.. A55et class Equipment Depreciation method And rate 200/0 reducing balance Page 9
Northern Area Community Network Limited Notes to the Financial Statements for the Year Ended 31 March 2024 Trgde debtors Trade debtors are amounts due from fvnding bodies and customers for services perfonned in the ordinary course of business. Trade debtors are recognised initially at tlie transaction price. They are subsequently measured at cost less provision for impairment. A provision for the impairnient of trade debtors is established when ihere is objective evidence that the charity will not be able to collect all noUntS due according to the original terns of the receivables. Cash #nd eash equivalents Cash and cash equivalents comprtse Cash on hand and call deposits, and other sliort-tern) highly liquid investments that are readily convertible to a known amount of ¢asli and are subject to an insignificant risk of change in value. Fund strueture Unrestricted income funds are general funds that are available for use at the trustees discretion in furtherance of the objectives of the charity- Restricted income funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose. Pensions and other post retirement obligations The charity operates a defined contribution pension scheme which is a pension plan under which fixed ¢ontributions are paid into a pension fund and the charity has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods. Contributions to defined contribution plans are recognised in the Statement of Financial Activities when they are due. If contribution payments exceed tlje contribution due for SeIce, tiie excess is recognised as a prepayment. 3 Income from eharitable activities Unrestricted funds General Restricted funds Total 2024 Total 2023 Grant income Sundry income 459,443 24.029 459,443 30.907 556,221 11.038 6,878 6,878 483,472 490,350 567,259 Page 10
Northern Area Community Network Limited Notes to the Financial Statements for the Year Ended 31 March 2024 4 Expenditure on chaTltable activities Unrestricted funds General Restricted funds TotAI 2024 Total 2013 Project costs Wages and salaries Staff NIC {Employer5) Staff Pensions Training and recruitment Rent and rates Heat, light and power Insurance Repairs Telephone Computer softwar¢ and expenses Postage, stationery and advertising Sundry expenses Legal and professional fees Travel and subsistence Bank fees Depreciation 164.618 235.855 23.391 16,447 2,842 11,183 4,714 4,968 1,492 4,483 9.071 9,694 1.920 164.618 300.457 23.391 16.447 2,842 11,183 4.714 4.968 1,492 4,483 9,071 9,694 1,920 5,627 5,382 200 1,695 225,161 300,127 24.933 17,219 2,612 11,154 6.859 4,801 1.206 4,351 8,568 10,719 1,411 4.774 4,167 199 1.489 64,602 5,627 5,382 200 ,695 72,124 496,060 568,184 629,750 In addition to the expenditure analysed above, there are also governance costs of £5,175 (2023 £5.419) which relate directly to charitable activities. See note 5 for further details. 5 Analysis of governance and support costs Governance costs Unrestricted funds General Total funds Independent examiner fees Examination of the financial statements Legal and professional fees 1.920 3,255 1,920 3.255 Total for 2024 5,175 5.175 Total for 2023 5,419 5,419 Pagell
Northern Area Community Network Limited Notes to the Financial Statements for the Year Ended 31 March 2024 6 Net incomingloutgoing resources Net outgoing resources for the year include: 2024 2023 Audit fees Other non-audit services Depreciation of fixed assets 2,484 1,920 1,695 1,489 7 St2ff costs The aggregate payroll costs were as follows.. 2024 2023 Staff costs during the year were: Wages and salaries Social security costs Pension costs 300,457 23,391 16,447 300,127 24,933 17,219 340,295 342,279 The monthly average number of persons (including senior Inanagement I leadership team) employed by the charity during the year expressed as full time 4uivalents was follows: 2024 2023 Staff io io 10 (2023 - 10) of tli¢ above employees participated in the Defined Contribution Pension Schemes. Contributions to the employee pension schemes for the year totalled £16.447 (2023 - £17,219). 8 Independent examiner's remuneration 2024 Examination of the financial statements 1.920 9 Auditors, remuneration 2023 Audit of the financial statements 2.484 Page 12
Northern Area Community Network Limited Notes to the Financial Statements for the Year Ended 31 March 2024 10 Taxation The charity is a registered charity and is therefore exenipt from taxation. 11 Tangible fixed assets Furniture and equipment Total Cost At l April 2023 Additions 120,236 2,517 120,2J6 2,517 At J l March 2024 122.753 122,753 Depreciation At l April 2023 Charge for the year 114,276 1,695 114,276 1.695 At 31 March 2024 115.971 115,971 Net book value At 31 March 2024 6,782 6,782 At 31 March 2023 5,960 5,960 12 Debtors 2024 2023 Trade debtors 11,359 13 Cash and cash equivalents 2024 2023 C3511 on hand Cash at bank 39 150,784 131 241.147 150,823 241,278 14 Creditor$: amounts falling due within one year 2024 2023 Accruals 11.617 10,964 Page 13
Northern Area Community Iyetwork Limited Notes to the Financial Statements for the Year Ended 31 March 2024 15 Funds Balance at I April 2023 Incoming resources Resources expended BalAnce at 31 March 2024 Unrestricted Unreslricled generalfunds General Funds Restricted Funds 224,898 22,735 6,878 483,472 (77.299) (496,060} 154,477 10.147 Total funds 247,633 490.350 (573,359) 164,624 Balance at I April 20Z2 Incoming resources Resources expended B21#nee at 31 March 2023 Unrestrieted Unrestrictedgeneralfunds General Funds Restricted Fund5 244.601 70,942 4.056 563,203 {23,759) 611,410) 224.898 22.735 Total funds 315,543 567,259 (635,169) 247,633 16 Analysis of net assets between funds Unrestricted funds General Total funds at 31 March 2024 Restricted funds Tangible fixed assets Current assets Current liabilities 6.782 159,312 (11,617) 6,782 169,459 (11,617) 10,147 Total net assets 154,477 10,147 164,624 Page 14