**COMPANY REGISTRATION NUMBER: NI012023 CHARITY REGISTRATION NUMBER: NIC101204** ## **Share Discovery Village** ## **Company Limited by Guarantee** ## **Financial Statements** ## **31 March 2024** Finegan Gibson Ltd Chartered accountants & statutory auditor Causeway Tower 9 James Street South Belfast BT2 8DN ## **Share Discovery Village** ## **Company Limited by Guarantee** ## **Financial Statements** ## **Year ended 31 March 2024** ||**Page**| |---|---| |Trustees' annual report (incorporating the director's report)|**1**| |Independent auditor's report to the members|**7**| |Statement of financial activities (including income and|| |expenditure account)|**13**| |Statement of financial position|**14**| |Statement of cash flows|**15**| |Notes to the financial statements|**16**| **Share Discovery Village** ## **Company Limited by Guarantee** ## **Trustees' Annual Report (Incorporating the Director's Report)** ## **Year ended 31 March 2024** The trustees, who are also the directors for the purposes of company law, present their report and the financial statements of the charity for the year ended 31 March 2024. ## **Reference and administrative details** |**Registered charity name**|Share Discovery Village|| |---|---|---| |**Charity registration number**|NIC101204|| |**Company registration number**|NI012023|| |**Principal office and registered**|221 Lisnaskea Road|| |**office**|Shanaghy|| ||Lisnaskea|| ||Enniskillen|| ||Co.Fermanagh|| ||BT92 0JZ|| |**The trustees**||| ||N Marshall|(Resigned 12 May 2023)| ||I Brownlee(Chairperson)|(Resigned 8 January 2024)| ||T O'Neill - Crozier|| |||(Appointed 14 December 2023| ||G McPhillips|Resigned 2 October 2024)| ||J Bell|(Appointed 14 December 2023)| ||K Gallagher (Treasurer)|| ||W Hosford|(Appointed 10 August 2023)| ||C Plunket|| ||S Gracey|| ||C Nicol|| |**Company secretary**|Colin Nicol|| |**Auditor**|Finegan Gibson Ltd|| ||Chartered accountants &|statutory auditor| ||Causeway Tower|| ||9 James Street South|| ||Belfast|| ||BT2 8DN|| ## **Structure, governance and management** ## _**Governing Document**_ Share Discovery Village is a company limited by guarantee governed by its Memorandum and Articles of Association dated 5th May 1977 (previously known as Discovery 80). Share Discovery Village is a registered charity with the Charity Commission for Northern Ireland. **1** ## **Share Discovery Village** ## **Company Limited by Guarantee** ## **Trustees' Annual Report (Incorporating the Director's Report)** _**(continued)**_ ## **Year ended 31 March 2024** ## **Structure, governance and management** _**(continued)**_ ## _**Appointment of trustees**_ When there is a requirement for new trustees with particular skills or knowledge, the board of directors has the right to co-opt appropriate individuals at any time up to the next AGM. Co-opted trustees and other individuals proposed as trustees at the AGM must have been made aware of a trustee's legal obligations under the charity and company laws, the content of the Memorandum and Articles of Association of the company, the workings of the various committees and the detail of the decision-making processes. ## _**Management**_ Trustees are charged with the overall responsibility of the effective and legal operation of the organisation and ensuring it is working to achieve its strategy. All trustees give of their time freely and no trustee received any remuneration in the year. Details of trustees' remuneration and expenses are disclosed in note 18 to the accounts. ## _**Organisation structure and how charity makes decisions**_ The board of trustees, which can comprise up to a maximum of 18 members, have overall responsibility for the charity. The board normally meets monthly and has three sub-committees, Finance, Remuneration and Sales & Marketing. A chief executive is appointed by the trustees to lead the organisation on a day- to-day basis and ensure it is adhering to its organisational strategy. ## _**Relationships with related parties**_ None of our trustees receive remuneration or other benefit from their work with the charity. ## _**Risk management**_ The trustees have a risk management strategy which comprises: An annual review of the principal risks and uncertainties that the charity faces. The implementation of procedures designed to minimise or manage any potential impact on the charity should those risks materialise. The board of trustees meets monthly with the CEO and Senior Management Team. trustees receive reports from the CEO, Heads of Operations and Outdoors and the Finance, and the Remuneration subcommittees. Trustees in the coming year will continue to review risk policies, systems and procedures to mitigate those risks identified in the annual and other reviews and will ensure that a Risk Register is maintained. **2** ## **Share Discovery Village** ## **Company Limited by Guarantee** ## **Trustees' Annual Report (Incorporating the Director's Report)** _**(continued)**_ ## **Year ended 31 March 2024** ## **Objectives and activities** ## _**Mission**_ To provide accessible, transformative experiences in a natural environment, enabling all our guests regardless of their ability, age or background , to flourish. ## _**Vision**_ A society where everyone can unlock their potential. ## _**Values**_ The following values underpin everything we do: ## _**Sustainability**_ We work in a unique and beautiful part of the world, without Lough Erne and its environs, we have no product to market. As such we aim to be stewards of the environment and to operate responsible business practices. We aim to educate and encourage our guests and staff to do likewise. ## _**Hospitality**_ Hospitality is a core value that defines our commitment to providing exceptional customer service and creating a warm and welcoming environment in the Share Discovery Village. We believe that every Share guest deserves to feel valued, cared for, and attended to with genuine hospitality. ## _**Accountability**_ We believe accountability is a fundamental value that fosters trust among our stakeholders. Share is committed to upholding the highest standards of accountability throughout our organisation. ## _**Respect**_ Respect is a cornerstone value that underpins our interactions, relationships, and approach to business. We recognise that embedding a culture of respect is essential for creating a positive and inclusive environment for all. ## _**Equality**_ Equality is a fundamental value that drives our commitment to creating a fair and inclusive environment. We believe that every individual should be treated with dignity and provided with equal opportunities, regardless of their abilities, background or characteristics. **3** ## **Share Discovery Village** ## **Company Limited by Guarantee** ## **Trustees' Annual Report (Incorporating the Director's Report)** _**(continued)**_ ## **Year ended 31 March 2024** ## **Achievements and performance** The 2023/24 period has been marked by significant progress amidst continuing challenges. The global financial crisis that began in the previous year continued to impact our operations, with rising energy costs, insurance premiums, and general inflationary pressures putting a strain on our resources. Despite these hurdles, Share Discovery Village has achieved several key milestones that underscore our resilience and commitment to our mission. We saw the expansion of our water park and the acquisition of new kayaks, paddles and mountain bikes, enhancing our offerings and improving the experience for our visitors. In June 2023, our CEO was invited to Stormont to meet with the US Special Envoy, Joe Kennedy. This meeting was a significant opportunity to discuss our work and explore potential support avenues. Additionally, our CEO was honoured as the Fermanagh Herald Business person of the Year in October, a recognition that highlights the work ongoing at Share. Furthermore, we successfully launched our three-year strategy and operational plan, along with a new fundraising strategy and a compelling case for support. These strategic documents are designed to guide our growth and ensure the sustainability of our services. Volunteer engagement saw a significant boost this year, with the number of volunteers increasing to over 200. This increase is a testament to the community's growing involvement and commitment to our cause. However, the challenges of operating in a high-cost environment remain a significant threat. The cost-of-living crisis, coupled with increased operational costs, required us to draw on our reserves in the third and fourth quarters of the year. Despite these challenges, we managed to reduce our energy costs by over £60,000, a critical saving that underscores our efforts to optimise operations. While our income increased by 4% compared to the previous year, rising costs in staff, insurance, and food-totalling over £70,000-offset these gains. Nonetheless, we remain committed to managing our finances prudently and continue to seek ways to mitigate these pressures. ## **Financial review** The financial results for the year are detailed in the organisation's financial statements, which include the Statement of Financial Activities and the Balance Sheet for the year ended 31/03/2024. Our reserves policy remains focused on maintaining sufficient funds to cover potential shortfalls and ensure continuity of services. The trustees consider the ideal level of reserves would be between three- and six-months expenditure, which for the year to 31/03/2024 would be between £464,280 and £928,561. Unrestricted reserves, excluding restricted and designated reserves, amounted to £404,347. While the Board is aware that these reserves are largely tied up in non-liquid assets, ongoing monitoring and prudent management will ensure that we maintain the necessary financial stability. **4** ## **Share Discovery Village** ## **Company Limited by Guarantee** ## **Trustees' Annual Report (Incorporating the Director's Report)** _**(continued)**_ ## **Year ended 31 March 2024** ## **Plans for future periods** Looking ahead, we are actively working with various organisations to secure funding and donations aimed at improving, upgrading, and revitalising our accommodation, shared spaces, and outdoor areas. We are confident that these improvements will lead to a significant increase in our bed night occupancy, potentially doubling it over the next two to three years. This projected increase in revenue will be crucial in sustaining our operations and allowing for continuous development of our site. We are also strategically pursuing long-term corporate partnerships and engaging in the public procurement social value space. By aligning with organisations involved in public projects, we aim to bring in donations, resources, people, and expertise that will further bolster our capabilities. Our diversified income and fundraising strategy is complemented by the development of new programs to attract schools during the autumn and winter months. This year has undoubtedly been challenging, and we anticipate that the difficulties will persist. However, we are committed to navigating these challenges and emerging as a stronger, more modern, and better-resourced organisation. Our focus on evidence-based decision-making and the adoption of new systems and technologies will drive continuous improvement in our operations. Finally, we recognize the importance of strong governance, and to that end, we will strategically recruit new trustees to ensure we are well-positioned to address both current and future challenges. We remain united in our mission and are determined to succeed together. ## **Trustees' responsibilities statement** The trustees, who are also directors for the purposes 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). Company law requires the charity trustees to prepare financial statements for each year which give a true and fair view of the state of affairs of the charitable company and the incoming resources and application of resources, including the income and expenditure, for that period. In preparing these financial statements, the trustees are required to: - select suitable accounting policies and then apply them consistently; - observe the methods and principles in the applicable Charities SORP; - make judgments and accounting estimates that are reasonable and prudent; - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business. The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. **5** ## **Share Discovery Village** ## **Company Limited by Guarantee** ## **Trustees' Annual Report (Incorporating the Director's Report)** _**(continued)**_ ## **Year ended 31 March 2024** ## **Auditor** Each of the persons who is a trustee at the date of approval of this report confirms that: - so far as they are aware, there is no relevant audit information of which the charity's auditor is unaware; and - they have taken all steps that they ought to have taken as a trustee to make themselves aware of any relevant audit information and to establish that the charity's auditor is aware of that information. ## **Small company provisions** This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption. The trustees' annual report was approved on 5 December 2024 and signed on behalf of the board of trustees by: T O'Neill - Corzier Trustee **6** ## **Share Discovery Village** ## **Company Limited by Guarantee** ## **Independent Auditor's Report to the Members of Share Discovery Village** ## **Year ended 31 March 2024** ## **Opinion** We have audited the financial statements of Share Discovery Village (the 'charity') for the year ended 31 March 2024 which comprise the statement of financial activities (including income and expenditure account), statement of financial position, statement of cash flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements: - give a true and fair view of the state of the charity's affairs as at 31 March 2024 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended; - have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; - have been prepared in accordance with the requirements of the Companies Act 2006. ## **Basis for opinion** We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and the provisions available for small entities, in the circumstances set out below, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. In common with many other organisations of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements. ## **Conclusions relating to going concern** In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report. **7** ## **Share Discovery Village** ## **Company Limited by Guarantee** ## **Independent Auditor's Report to the Members of Share Discovery Village** _**(continued)**_ ## **Year ended 31 March 2024** ## **Other information** The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility 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 misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. ## **Opinions on other matters prescribed by the Companies Act 2006** In our opinion, based on the work undertaken in the course of the audit: - the information given in the trustees' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and - the trustees' report has been prepared in accordance with applicable legal requirements. ## **Matters on which we are required to report by exception** In the light of the knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identified material misstatements in the trustees' report. We have nothing to report in respect 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 not been kept, or returns adequate for our audit have not been received from branches not visited by us; or - the financial statements are not in agreement with the accounting records and returns; or - certain disclosures of trustees' remuneration specified by law are not made; or - we have not received all the information and explanations we require for our audit; or - the trustees were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemptions in preparing the directors' report and from the requirement to prepare a strategic report. **8** ## **Share Discovery Village** ## **Company Limited by Guarantee** **Independent Auditor's Report to the Members of Share Discovery Village** _**(continued)**_ ## **Year ended 31 March 2024** ## **Responsibilities of trustees** As explained more fully in the trustees' responsibilities statement, the trustees (who are also the directors for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so. **9** ## **Share Discovery Village** ## **Company Limited by Guarantee** **Independent Auditor's Report to the Members of Share Discovery Village** _**(continued)**_ ## **Year ended 31 March 2024** ## **Auditor's responsibilities for the audit of the financial statements** Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and 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 detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Irregularities, 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 extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, we considered the following:  the nature of the industry and sector, control environment and business performance including the design of the remuneration policies, key drivers for directors' remuneration, bonus levels and performance targets; - results of our enquiries of management about their own identification and assessment of the risks - of irregularities; - any matters we identified having obtained and reviewed documentation of their policies and - procedures relating to: - identifying, evaluating and complying with laws and regulations and whether management were aware of any instances of non-compliance; - detecting and responding to the risks of fraud and whether management have knowledge of any actual, suspected or alleged fraud; - the internal controls established to mitigate risks of fraud or non-compliance with laws and regulations.  the matters discussed among the audit engagement team including significant component audit teams and relevant internal specialists, including tax and valuations specialists regarding how and where fraud might occur in the financial statements and any potential indicators of fraud. As a result of these procedures, we considered the opportunities and incentives that may exist within the organisation for fraud and identified the greatest potential for fraud. In common with all audits under ISAs (UK), we are also required to perform specific procedures to respond to the risk of management override. We also obtained an understanding of the legal and regulatory frameworks in operation, focusing on provisions of those laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements. The key laws and regulations we considered in this context included ongoing compliance with the UK Companies Act and tax legislation. In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which may be fundamental for their ability to operate or to avoid a material penalty. **10** ## **Share Discovery Village** ## **Company Limited by Guarantee** **Independent Auditor's Report to the Members of Share Discovery Village** _**(continued)**_ ## **Year ended 31 March 2024** As part of an audit in accordance with ISAs (UK), we exercise professional judgment and maintain professional scepticism throughout the audit. We also: - Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal 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 internal control. - Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the trustees. - Conclude on the appropriateness of the trustees' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the charity's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the charity to cease to continue as a going concern. - Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation. We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit. **11** ## **Share Discovery Village** ## **Company Limited by Guarantee** ## **Independent Auditor's Report to the Members of Share Discovery Village** _**(continued)**_ ## **Year ended 31 March 2024** As explained more fully in the trustees' Responsibilities Statement (set out on page 5), the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view. Our responsibility is to audit and express an opinion on the financial statements in accordance with applicable law and International Standards on Auditing (UK). Those standards require us to comply with the Financial Reporting Council's (FRC's) Ethical Standard for Auditors', in in the circumstances set out in note 32 to the financial statements. ## **Use of our report** This report is made solely to the charity's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charity's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity's members as a body, for our audit work, for this report, or for the opinions we have formed. Paul Dolan FCA (Senior Statutory Auditor) For and on behalf of Finegan Gibson Ltd Chartered accountants & statutory auditor Causeway Tower 9 James Street South Belfast BT2 8DN 5 December 2024 **12** ## **Share Discovery Village** ## **Company Limited by Guarantee** ## **Statement of Financial Activities (including income and expenditure account)** ## **Year ended 31 March 2024** |||**2024**|**2024**||2023| |---|---|---|---|---|---| |||Unrestricted|||| |||funds|**Total funds**||Total funds| ||**Note**|**£**||**£**|£| |**Income and endowments**|||||| |Donations and legacies|**5**|9,874||9,874|9,940| |Charitable activities|**6**|1,230,133||1,230,133|1,309,968| |Other trading activities|**7**|188,167||188,167|166,658| |Investment income|**8**|582||582|168| |Other income|**9**|227,115||227,115|68,500| |||`────────────`||`────────────`|`────────────`| |**Total income**||1,655,871||1,655,871|1,555,234| |||`════════════`||`════════════`|`════════════`| |**Expenditure**|||||| |Expenditure on raising funds:|||||| |Costs of other trading activities|**10**|(16,655)||(16,655)|(13,644)| |Expenditure on charitable activities|**11,12**|(1,840,468)|(1,840,468)||(1,872,861)| |||`────────────`||`────────────`|`────────────`| |**Total expenditure**||(1,857,123)|(1,857,123)||(1,886,505)| |||`════════════`||`════════════`|`════════════`| |Net gains on investments|**14**|308,992||308,992|–| |||`────────────`||`────────────`|`────────────`| |**Net income/(expenditure) and net movement in funds**||107,740||107,740|(331,271)| |||`════════════`||`════════════`|`════════════`| |**Reconciliation of funds**|||||| |Total funds brought forward||2,463,519||2,463,519|2,794,790| |||`────────────`||`────────────`|`────────────`| |**Total funds carried forward**||2,571,259||2,571,259|2,463,519| |||`════════════`||`════════════`|`════════════`| The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. **The notes on pages 16 to 26 form part of these financial statements.** **13** ## **Share Discovery Village** ## **Company Limited by Guarantee** ## **Statement of Financial Position** ## **31 March 2024** |||**2024**|2023| |---|---|---|---| ||**Note**|**£**|£| |**Fixed assets**|||| |Tangible fixed assets|**19**|2,877,804|3,168,041| |**Current assets**|||| |Stocks|**20**|19,498|17,357| |Debtors|**21**|197,535|204,421| |Investments|**22**|430,000|–| |Cash at bank and in hand||27,901|68,252| |||`─────────`|`─────────`| |||674,934|290,030| |**Creditors: amounts falling due within one year**|**23**|(779,058)|(734,779)| |||`─────────`|`─────────`| |**Net current liabilities**||(104,124)|(444,749)| |||`────────────`|`────────────`| |**Total assets less current liabilities**||2,773,680|2,723,292| |**Creditors: amounts falling due after more than one year**|**24**|(202,421)|(259,773)| |||`────────────`|`────────────`| |**Net assets**||2,571,259|2,463,519| |||`════════════`|`════════════`| |**Funds of the charity**|||| |Unrestricted funds||2,571,259|2,463,519| |||`────────────`|`────────────`| |**Total charity funds**|**27**|2,571,259
`════════════`|2,463,519
`════════════`| These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime. These financial statements were approved by the board of trustees and authorised for issue on 5 December 2024, and are signed on behalf of the board by: T O'Neill - Corzier Trustee **The notes on pages 16 to 26 form part of these financial statements.** **14** ## **Share Discovery Village** ## **Company Limited by Guarantee** ## **Statement of Cash Flows** ## **Year ended 31 March 2024** ||**2024**|2023| |---|---|---| ||**£**|£| |**Cash flows from operating activities**||| |Net income/(expenditure)|107,740|(331,271)| |_Adjustments for:_||| |Depreciation of tangible fixed assets|183,881|188,238| |Other interest receivable and similar income|(582)|(168)| |Gains on disposal of programme related investments|(227,115)|(68,500)| |Accrued expenses|-|128,413| |_Changes in:_||| |Stocks|(2,141)|(1,060)| |Trade and other debtors|6,885|16,184| |Trade and other creditors|54,288|24,116| ||`─────────`|`─────────`| |Cash generated from operations|122,956|(44,048)| |Interest received|582|168| ||`─────────`|`────────`| |Net cash used in operating activities|123,538|(43,880)| ||`═════════`|`════════`| |**Cash flows from investing activities**||| |Purchase of tangible assets|(39,852)|(137,166)| |Proceeds from sale of tangible assets|25,200|–| |Proceeds from sale of social investments|(81,877)|68,500| ||`─────────`|`─────────`| |Net cash from/(used in) investing activities|(96,529)|(68,666)| ||`═════════`|`═════════`| |**Cash flows from financing activities**||| |Proceeds from borrowings|(67,360)|27,713| ||`─────────`|`─────────`| |Net cash (used in)/from financing activities|(67,360)|27,713| ||`═════════`|`═════════`| |**Net decrease in cash and cash equivalents**|(40,351)|(84,833)| |**Cash and cash equivalents at beginning of year**|68,252|153,085| ||`────────`|`─────────`| |**Cash and cash equivalents at end of year**|27,901|68,252| ||`════════`|`═════════`| **The notes on pages 16 to 26 form part of these financial statements.** **15** **Share Discovery Village** ## **Company Limited by Guarantee** ## **Notes to the Financial Statements** ## **Year ended 31 March 2024** ## **1. General information** The charity is a public benefit entity and a private company limited by guarantee, registered in Northern Ireland and a registered charity in Northern Ireland. The address of the registered office is 221 Lisnaskea Road, Shanaghy, Lisnaskea, Enniskillen, Co.Fermanagh, BT92 0JZ. ## **2. Statement of compliance** These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the 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) (Charities SORP (FRS 102)) and the Companies Act 2006. ## **3. Accounting policies** ## **Basis of preparation** The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure. The financial statements are prepared in sterling, which is the functional currency of the entity. ## **Going concern** The financial statements have been prepared on the going concern basis which assumes that the company will continue in operational existence for the foreseeable future. The validity of this assumption depends upon the continued support of grant funding. The balance sheet shows net assets of £2,571,259. However, £2,877,804 is tied up in tangible fixed assets. Without the fixed assets, the balance sheet would be showing a net liability of £306,545 ## **Judgements and key sources of estimation uncertainty** The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. ## **Fund accounting** Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes. Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment. Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds. **16** ## **Share Discovery Village** ## **Company Limited by Guarantee** ## **Notes to the Financial Statements** _**(continued)**_ ## **Year ended 31 March 2024** ## **3. Accounting policies** _**(continued)**_ ## **Incoming resources** All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income: - income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably. - legacy income is recognised when receipt is probable and entitlement is established. - income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers. - income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted. ## **Resources expended** Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates: - expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods. - expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities. - other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities. All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis. ## **Tangible assets** Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. **17** ## **Share Discovery Village** ## **Company Limited by Guarantee** ## **Notes to the Financial Statements** _**(continued)**_ ## **Year ended 31 March 2024** ## **3. Accounting policies** _**(continued)**_ ## **Tangible assets** _**(continued)**_ An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other recognised gains and losses, unless it reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial activities. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other recognised gains and losses, except to which it offsets any previous revaluation gain, in which case the loss is shown within other recognised gains and losses on the statement of financial activities. ## **Depreciation** Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows: |Freehold property|-|2% straight line| |---|---|---| |Plant, caravans & vehicles|-|20% straight line| |Fixtures and fittings|-|20% straight line| |Motor vehicles|-|5%-25% Straight line| |Boats & sports equipment|-|20% straight line| ## **Impairment of fixed assets** A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the charity are assigned to those units. ## **Stocks** Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition. ## **Defined contribution plans** Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. **18** ## **Share Discovery Village** ## **Company Limited by Guarantee** ## **Notes to the Financial Statements** _**(continued)**_ ## **Year ended 31 March 2024** ## **3. Accounting policies** _**(continued)**_ ## **Defined contribution plans** _**(continued)**_ When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as an expense in the period in which it arises. ## **4. Limited by guarantee** Each of the members of the charity has guaranteed to contribute to the assets of the company in the event of the charity being wound up to the extent of £1. ## **5. Donations and legacies** ||Unrestricted|**Total Funds**|Unrestricted|Total Funds| |---|---|---|---|---| ||Funds|**2024**|Funds|2023| ||£|**£**|£|£| |**Donations**||||| |Donations|9,874|9,874|9,940|9,940| ||`═══════`|`═══════`|`═══════`|`═══════`| ## **6. Charitable activities** ||Unrestricted|**Total Funds**|Unrestricted|Total Funds| |---|---|---|---|---| ||Funds|**2024**|Funds|2023| ||£|**£**|£|£| |Accommodation & Activities|1,227,042|1,227,042|1,301,928|1,301,928| |Dept of Agriculture - Smiths Strand||||| |Walk|–|–|330|330| |Department Of Education Grant||||| |Income Received|3,091|3,091|4,800|4,800| |Department for Employment & Training|–|–|2,910|2,910| ||`────────────`|`────────────`|`────────────`|`────────────`| ||1,230,133|1,230,133|1,309,968|1,309,968| ||`════════════`|`════════════`|`════════════`|`════════════`| ## **7. Other trading activities** ||Unrestricted|**Total Funds**|Unrestricted|Total Funds| |---|---|---|---|---| ||Funds|**2024**|Funds|2023| ||£|**£**|£|£| |Cafe income|48,473|48,473|41,902|41,902| |Static site fees, rates & electricity|96,521|96,521|80,899|80,899| |Bar & vending machines|39,128|39,128|39,207|39,207| |Other income|4,045|4,045|4,650|4,650| ||`─────────`|`─────────`|`─────────`|`─────────`| ||188,167|188,167|166,658|166,658| ||`═════════`|`═════════`|`═════════`|`═════════`| **19** ## **Share Discovery Village** ## **Company Limited by Guarantee** ## **Notes to the Financial Statements** _**(continued)**_ ## **Year ended 31 March 2024** ## **8. Investment income** |||Unrestricted|**Total Funds**|Unrestricted|Total Funds| |---|---|---|---|---|---| |||Funds|**2024**|Funds|2023| |||£|**£**|£|£| ||Deposit Accounts|582|582|168|168| |||`════`|`════`|`════`|`════`| |**9.**|**Other income**||||| |||Unrestricted|**Total Funds**|Unrestricted|Total Funds| |||Funds|**2024**|Funds|2023| |||£|**£**|£|£| ||Gain on fixed asset|227,115|227,115|68,500|68,500| |||`═════════`|`═════════`|`════════`|`════════`| |**10.**|**Costs of other trading activities**||||| |||Unrestricted|**Total Funds**|Unrestricted|Total Funds| |||Funds|**2024**|Funds|2023| |||£|**£**|£|£| ||Costs of other trading activities - Shop||||| ||costs|16,655|16,655|13,644|13,644| |||`════════`|`════════`|`════════`|`════════`| |**11.**|**Expenditure on charitable activities**|**by fund type**|||| |||Unrestricted|**Total Funds**|Unrestricted|Total Funds| |||Funds|**2024**|Funds|2023| |||£|**£**|£|£| ||Shared community education,||||| ||recreation & creative arts|931,384|931,384|988,057|988,057| ||Support costs|909,084|909,084|884,804|884,804| |||`────────────`|`────────────`|`────────────`|`────────────`| |||1,840,468|1,840,468|1,872,861|1,872,861| |||`════════════`|`════════════`|`════════════`|`════════════`| ## **12. Expenditure on charitable activities by activity type** ||Activities|||| |---|---|---|---|---| ||undertaken||**Total funds**|Total fund| ||directly|Support costs|**2024**|2023| ||£|£|**£**|£| |Shared community education,||||| |recreation & creative arts|931,384|
827,050|1,758,434|1,816,850| |Governance costs|–|
82,034|82,034|56,011| ||`─────────`|
`─────────`|`────────────`|`────────────`| ||931,384|
909,084|1,840,468|1,872,861| ||`═════════`|
`═════════`|`════════════`|`════════════`| **20** ## **Share Discovery Village** ## **Company Limited by Guarantee** ## **Notes to the Financial Statements** _**(continued)**_ ## **Year ended 31 March 2024** ## **13. Analysis of support costs** |||Analysis of||| |---|---|---|---|---| |||support costs|**Total 2024**|Total 2023| |||£|**£**|£| ||Staff costs|184,044|184,044|142,574| ||Premises|643,006|643,006|686,219| ||Governance costs|82,034|82,034|56,011| |||`─────────`|`─────────`|`─────────`| |||909,084|909,084|884,804| |||`═════════`|`═════════`|`═════════`| |**14.**|**Net gains on investments**|||| |||Unrestricted|**Total Funds**|Unrestricted|Total Funds| |---|---|---|---|---|---| |||Funds|**2024**|Funds|2023| |||£|**£**|£|£| ||Gains/(losses) on investment property|308,992|308,992|–|–| |||`═════════`|`═════════`|`════`|`════`| |**15.**|**Net income/(expenditure)**||||| ||Net income/(expenditure) is stated after|charging/(crediting):|||| |||||**2024**|2023| |||||**£**|£| ||Depreciation of tangible fixed assets|||183,881|188,238| |||||`═════════`|`═════════`| |**16.**|**Auditors remuneration**||||| |||||**2024**|2023| |||||**£**|£| ||Fees payable for the audit of the financial statements|||7,262
`═══════`|6,668
`═══════`| **17. Staff costs** |The total staff costs and employee benefits for the reporting period are analysed as|The total staff costs and employee benefits for the reporting period are analysed as|follows:| |---|---|---| ||**2024**|2023| ||**£**|£| |Wages and salaries|724,540|563,670| |Social security costs|59,319|46,976| |Employer contributions to pension plans|14,630|9,171| ||`─────────`|`─────────`| ||798,489|619,817| ||`═════════`|`═════════`| |The average head count of employees during the year was 27 (2023: 27). The average|The average head count of employees during the year was 27 (2023: 27). The average|number| |---|---|---| |of full-time equivalent employees during the year is analysed as follows:||| ||**2024**|2023| ||**No.**|No.| |Number of staff|27|27| ||`════`|`════`| No employee received employee benefits of more than £60,000 during the year (2023: Nil). **21** ## **Share Discovery Village** ## **Company Limited by Guarantee** ## **Notes to the Financial Statements** _**(continued)**_ ## **Year ended 31 March 2024** ## **17. Staff costs** _**(continued)**_ ## **Key Management Personnel** Key management personnel include all persons that have authority and responsibility for planning, directing and controlling the activities of the charity. The total compensation paid to key management personnel for services provided to the charity was £109,001 (2023:£103,792). ## **18. Trustee remuneration and expenses** During the year Share purchased goods and services from two suppliers that two of the trustees are associated with, these transactions totalled £23,532. No Trustee in the charity received any benefit or payment in relation to these transactions or any other transactions. The charity trustees were not paid or received any other benefits from employment with the charity in the prior year (2023: £Nil). The charity trustees do not receive reimbursement for travel expenses (2023: £Nil). No charity trustee received payment for professional or other service supplied to the charity (2023: £Nil). ## **19. Tangible fixed assets** ||Freehold|Plant and|
Fixtures and||| |---|---|---|---|---|---| ||property|machinery|
fittings|Equipment|**Total**| ||£|£|£|£|**£**| |**Cost**|||||| |At 1 April 2023|5,724,745|890,838|
147,631|701,016|7,464,230| |Additions|–|3,951|
1,299|34,602|39,852| |Disposals|(60,000)|–|
–|–|(60,000)| |Transfers|(121,008)|–|
–|–|(121,008)| ||`────────────`|`─────────`|
`─────────`|`─────────`|`────────────`| |**At 31 March 2024**|5,543,737|894,789|
148,930|735,618|7,323,074| ||`════════════`|`═════════`|
`═════════`|`═════════`|`════════════`| |**Depreciation**|||||| |At 1 April 2023|2,867,453|644,062|
138,535|646,139|4,296,189| |Charge for the year|109,908|33,725|
4,388|35,860|183,881| |Disposals|(34,800)|–|
–|–|(34,800)| ||`────────────`|`─────────`|
`─────────`|`─────────`|`────────────`| |**At 31 March 2024**|2,942,561|677,787|
142,923|681,999|4,445,270| ||`════════════`|`═════════`|
`═════════`|`═════════`|`════════════`| |**Carrying amount**|||||| |**At 31 March 2024**|2,601,176|217,002|
6,007|53,619|2,877,804| ||`════════════`|`═════════`|
`═════════`|`═════════`|`════════════`| |At 31 March 2023|2,857,292|246,776|
9,096|54,877|3,168,041| ||`════════════`|`═════════`|
`═════════`|`═════════`|`════════════`| **22** ## **Share Discovery Village** ## **Company Limited by Guarantee** ## **Notes to the Financial Statements** _**(continued)**_ ## **Year ended 31 March 2024** ## **20. Stocks** |||**2024**|2023| |---|---|---|---| |||**£**|£| ||Raw materials and consumables|19,498|17,357| |||`════════`|`════════`| |**21.**|**Debtors**||| |||**2024**|2023| |||**£**|£| ||Trade debtors|110,991|100,752| ||Prepayments and accrued income|86,544|94,915| ||Other debtors|–|8,754| |||`─────────`|`─────────`| |||197,535|204,421| |||`═════════`|`═════════`| |**22.**|**Investments**||| |||**2024**|2023| |||**£**|£| ||Asset Held For Sale|430,000|–| |||`═════════`|`════`| Following a prudent assessment of assets which are considered not a core part of operations, a number of properties have been categorised as held for sale after being valued and are currently marketed by an external agent. ## **23. Creditors: amounts falling due within one year** ||**2024**|2023| |---|---|---| ||**£**|£| |Bank loans and overdrafts|81,556|91,564| |Trade creditors|279,708|232,418| |Accruals and deferred income|283,588|263,264| |Social security and other taxes|115,084|128,792| |Other creditors|1,649|1,268| |Other creditors|17,473|17,473| ||`─────────`|`─────────`| ||779,058|734,779| ||`═════════`|`═════════`| |**Creditors:** **amounts falling due after more than one year**||| ||**2024**|2023| ||**£**|£| |Bank loans and overdrafts|202,421|259,773| ||`═════════`|`═════════`| ## **24. Creditors: amounts falling due after more than one year** **23** ## **Share Discovery Village** ## **Company Limited by Guarantee** ## **Notes to the Financial Statements** _**(continued)**_ ## **Year ended 31 March 2024** ## **25. Deferred income** ||**2024**|2023| |---|---|---| ||**£**|£| |At 1 April 2023|95,292|198,059| |Amount released to income|(95,292)|(198,059)| |Amount deferred in year|123,018|95,292| ||`─────────`|`─────────`| |**At 31 March 2024**|123,018|95,292| ||`═════════`|`═════════`| ## **26. Pensions and other post retirement benefits** ## **Defined contribution plans** The amount recognised in income or expenditure as an expense in relation to defined contribution plans was £14,630 (2023: £9,171). ## **27. Analysis of charitable funds** ## **Unrestricted funds** ||At||||Gains and|
**At**| |---|---|---|---|---|---|---| ||1 Apr 2023|Income|Expenditure|Transfers|losses|
**31 Mar 2024**| ||£|£|£|£|£|£| |General funds|48,457|1,655,871|(1,729,981)|121,008|308,992|
404,347| |Designated Fund|2,415,062|–|
(127,142)|(121,008)|–|
2,166,912| ||`────────────`|`────────────`|
`────────────`|`─────────`|`─────────`|
`────────────`| ||2,463,519|1,655,871|(1,857,123)|–|308,992|
2,571,259| ||`════════════`|`════════════`|
`════════════`|`═════════`|`═════════`|
`════════════`| ||At||||Gains and|
At| ||1 Apr 2022|Income|Expenditure|Transfers|losses|
31 Mar 2023| ||£|£|£|£|£|£| |General funds|233,913|1,555,234|(1,740,690)|–|–|
48,457| |Designated Fund|2,560,877|–|
(145,815)|–|–|
2,415,062| ||`────────────`|`────────────`|
`────────────`|`────`|`────`|
`────────────`| ||2,794,790|1,555,234|(1,886,505)|–|–|
2,463,519| ||`════════════`|`════════════`|
`════════════`|`════`|`════`|
`════════════`| A transfer has taken place from designated funds to unrestricted funds due to assets previously held as a designated fund now being held for sale. **24** ## **Share Discovery Village** ## **Company Limited by Guarantee** ## **Notes to the Financial Statements** _**(continued)**_ ## **Year ended 31 March 2024** ## **28. Analysis of net assets between funds** ||Unrestricted|**Total Funds**| |---|---|---| ||Funds|**2024**| ||£|**£**| |Tangible fixed assets|2,877,804|2,877,804| |Current assets|674,934|674,934| |Creditors less than 1 year|(779,058)|
(779,058)| |Creditors greater than 1 year|(202,421)|
(202,421)| ||`────────────`|`────────────`| |**Net assets**|2,571,259|2,571,259| ||`════════════`|`════════════`| ||Unrestricted|Total Funds| ||Funds|2023| ||£|£| |Tangible fixed assets|3,168,041|3,168,041| |Current assets|290,030|290,030| |Creditors less than 1 year|(734,779)|
(734,779)| |Creditors greater than 1 year|(259,773)|
(259,773)| ||`────────────`|`────────────`| |**Net assets**|2,463,519|2,463,519| ||`════════════`|`════════════`| ## **29. Taxation** The Company is a registered charity, and as such is entitled to tax exemptions on income and profits in furtherance of the charity's primary objectives. ## **30. Analysis of changes in net debt** |||||**At**| |---|---|---|---|---| ||At|1 Apr 2023|Cash flows|**31 Mar 2024**| |||£|£|**£**| |Cash at bank and in hand||68,252|(40,351)|
27,901| |Debt due within one year||(91,564)|10,008|(81,556)| |Debt due after one year||(259,773)|57,352|(202,421)| |Current asset investments||–|430,000|430,000| |||`─────────`|`─────────`|`─────────`| |||(283,085)|457,009|173,924| |||`═════════`|`═════════`|`═════════`| ## **31. Contingencies** A contingent liability exists to repay grants and Trust monies received should certain conditions not be fulfilled by the charity. In the opinion of the trustees, the terms of the Letters of Offers have been, or will be, complied with and no liability is expected. **25** ## **Share Discovery Village** ## **Company Limited by Guarantee** ## **Notes to the Financial Statements** _**(continued)**_ ## **Year ended 31 March 2024** ## **32. Ethical standards** In common with many other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements. **26** **Share Discovery Village** **Company Limited by Guarantee** ## **Management Information** ## **Year ended 31 March 2024** **The following pages do not form part of the financial statements.** **27** ## **Share Discovery Village** ## **Company Limited by Guarantee** ## **Detailed Statement of Financial Activities** ## **Year ended 31 March 2024** ||**2024**|2023| |---|---|---| ||**£**|£| |**Income and endowments**||| |**Donations and legacies**||| |Donations|9,874|9,940| ||`───────`|`───────`| |**Charitable activities**||| |Accommodation & Activities|1,227,042|1,301,928| |Dept of Agriculture - Smiths Strand Walk|–|330| |Department Of Education Grant Income Received|3,091|4,800| |Department for Employment & Training|–|2,910| ||`────────────`|`────────────`| ||1,230,133|1,309,968| ||`────────────`|`────────────`| |**Other trading activities**||| |Cafe income|48,473|41,902| |Static site fees, rates & electricity|96,521|80,899| |Bar & vending machines|39,128|39,207| |Other income|4,045|4,650| ||`─────────`|`─────────`| ||188,167|166,658| ||`─────────`|`─────────`| |**Investment income**||| |Deposit Accounts|582|168| ||`────`|`────`| |**Other income**||| |Gain on fixed asset|227,115|68,500| ||`─────────`|`────────`| ||`────────────`|`────────────`| |**Total income**|1,655,871|1,555,234| ||`════════════`|`════════════`| **28** ## **Share Discovery Village** ## **Company Limited by Guarantee** ## **Notes to the Detailed Statement of Financial Activities** _**(continued)**_ ## **Year ended 31 March 2024** ||**2024**|2023| |---|---|---| ||**£**|£| |**Expenditure on charitable activities**||| |**Shared community education, recreation & creative arts**||| |**_Activities undertaken directly_**||| |Wages & Salaries|(559,305)|(435,377)| |Employer's NIC|(44,232)|(35,028)| |Pension costs|(10,908)|(6,838)| |Temporary staff|(93,877)|(240,474)| |Equipment repairs & maintenance|(29,793)|(94,345)| |Motor vehicle expenses|(28,375)|(35,958)| |Staff recruitment expenses|(295)|(410)| |Employee Expenses|(1,780)|(3,920)| |Staff Training|(5,521)|(5,035)| |Leisure suite costs|(25,823)|(25,076)| |House keeping costs|(59,891)|(49,728)| |Programme & activity costs|(53,335)|(37,854)| |Catering & consumables|(15,673)|(14,014)| |Department of Education Grant Expenses|(2,576)|(4,000)| ||`─────────`|`─────────`| ||(931,384)|(988,057)| ||`─────────`|`─────────`| |**_Support costs_**||| |Wages & salaries|(165,235)|(128,293)| |Employer's NIC|(15,087)|(11,948)| |Pension costs|(3,722)|(2,333)| |Light & heat|(137,263)|(188,910)| |Repairs & maintenance|(166,805)|(193,555)| |Insurance|(101,177)|(72,205)| |Telephone|(12,315)|(7,015)| |Other office costs|(15,982)|(10,464)| |Depreciation|(183,881)|(188,238)| |Advertising & publicity|(15,643)|(20,808)| |Membership & subscriptions|(9,940)|(5,024)| ||`─────────`|`─────────`| ||(827,050)|(828,793)| ||`─────────`|`─────────`| |**Governance costs**||| |Audit fees|(7,262)|(5,519)| |Legal and other professional fees|(33,384)|(18,927)| |Bank Interest & charges|(41,388)|(31,565)| ||`────────`|`────────`| ||(82,034)|(56,011)| ||`────────`|`────────`| ||`────────────`|`────────────`| |**Expenditure on charitable activities**|(1,840,468)|(1,872,861)| ||`════════════`|`════════════`| **29** ## **Share Discovery Village** ## **Company Limited by Guarantee** ## **Notes to the Detailed Statement of Financial Activities** _**(continued)**_ ## **Year ended 31 March 2024** ||**2024**|2023| |---|---|---| ||**£**|£| |**Costs of other trading activities**||| |**Costs of other trading activities - Shop costs**||| |Bar & vending machine purchases|(16,655)|(13,644)| ||`────────`|`────────`| ||`────────`|`────────`| |**Costs of other trading activities**|(16,655)|(13,644)| ||`════════`|`════════`| ||`────────────`|`────────────`| |**Total expenditure**|(1,857,123)|(1,886,505)| ||`════════════`|`════════════`| |**Net gains on investments**||| |Gains/(losses) on investment property|308,992|–| ||`────────────`|`────────────`| ||`─────────`|`─────────`| |**Net income/(expenditure)**|107,740|(331,271)| ||`═════════`|`═════════`| **29**