Share Discovery Village Company Limited by Guarantee Statement of Financial Activities (including income and expenditure account) Year ended 31 March 2025 2025 Restricted funds Total funds Total funds 2024 Unrestricted funds Nota Income and endowments Donations and legacies Charitable activities Other trading activities Investment income Other income 35.327 1,308,510 172,506 176 35,327 1,326.711 172,506 176 9,874 1,230,133 188,167 582 227,115 1,655,871 18,201 Total income 1,516,519 18,201 1,534.720 Expenditure Expenditure on raising funds-. Costs of other trading activities Expenditure on charitable activities Total expenditure 10 (12,971) 11,12 {1,700,018) {1,712,989) (12.971) (16,655) (10,000) (1,710,018) (1,840,468) (10.000) (1,722,989) (1,857,123) Net gains on investments 14 308,992 Net (expenditure)lincome (196.470) 8.201 (188,269) 107,740 Transfers between funds 2.780 (2.780) Net movement in funds (193,690) 5,421 (188,269) 107,740 Reconciliation of funds Totsl funds brought forward Total funds carried forward 2.571.259 2.377.569 2,571,259 2,382,990 2,463,519 2,571,259 5.421 The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activikn-es. The notes on pages 17 to 28 forni part of these financial statements. 14
Share Discovery Village Company Limited by Guarantee Statsment of Financial Position 31 March 2025 2025 2024 Note Fixed assets Tangible fixed assets 19 2,702.115 2,877,804 Current assets Stocks Debtors Investments Cash at bank and in hand 20 21 22 18,295 233,698 430,000 57.566 19,498 197,535 430,000 27,901 739.559 674,934 Creditors: amounts falling due within one year Net current liabilities 23 (905,599) (779,058) (166,040) (104,124) 2.536.075 2,773,680 Total assets less Current liabilities Creditors: amounts falling due after more than one year Net assets (153,085) (202,421) 2,382,990 2,571,259 Funds of the charity Restricted funds Unrestricted funds 5,421 2,377,569 27 2,382.990 2,571,259 2.571,259 Total charity funds 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 3 December 2025, and are signed on behalf of the board by: T O'Neill - Crozier Trustee The notes on pages 17 to 28 forni part of these financial statements. 15
Share Discovery Village Company Limited by Guarantee Statement of Cash Flows Year ended 31 March 2025 2025 2024 Cash flows from operating activities Net (expenditure)lincome (188,269) 107,740 Adjustments for." Depreciation of tangible fixed assets Net gains on investments other interest receivable and similar income Gains on disposal of programme related investments Accrued expensesl(income) 189,224 183,881 (308,992) (582) (227,115) (6,129) (176) 36,783 Changes in.. Stocks Trade and other debtors Trade and other creditors 1.203 (36,227) 106,877 (2.141) 5,613 61,689 Cash generated from operations 109,415 (186,036) Interest received 176 582 Net cash froml(used in) operating activities 109,591 (185,454) Cash flows from investing activities Purchase of tangible assets Proceeds from sale of other investments (13,535) (39,852) 252,315 Net cash (used in)lfrom investing activities (13.535) 212,463 Cash flows from financing actlvltles Proceeds from borrowings Net cash used in financing activities (66,391) (66,391) (67,360) (67,360) Net increasel(decrease) in cash and cash equivalents Cash and cash equivalents at beginning of year Cash and cash equivalents at end of year 29,665 27.901 (40,351) 68,252 57,566 27,901 The notes on pages 17 to 28 fom) part of these financial statements. 16
Share Discovery Village Company Limited by Guarantee Notes to the Financial Ststements Year ended 31 March 2025 General inforniation 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 OJZ. 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. Accounting policies Basis of preparation The financial statements have been prepared on the historrcal cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expendtture. The financial statements are prepared in sterling. which is the functional currency of the entity. Going concem The financial statements have been prepared on the going concem 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 £2,381.341. However. £2,702,115 is tied up in tangible fixed assets. Without the fixed assets, the balance sheet would be showing a net liability of £320,774. 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 circumstsnces. Fund accountlng Unrestricted fijnds 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. 17
Share Discovery Village Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 31 March 2025 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 wtth the transaction will fiow 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 reliabty. 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. ExpendÉture 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 benef t of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable acb'vities. other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitabla 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 contributs to on a reasonable. justifiable and consistent basis. Tangible assets Tangible assets are initially recorded at cost, and subsequently stated at cost less any accurnulated 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 depreciats'on and subsequent accumulated impairment losses. 18
Share Discovery Village Company Limited by Guarantee Notes to the Financial Statements (continuedj Year ended 31 March 2025 Accounting policies (continuedj Tangible assets (continued) An increase in the carrying amount of an asset as a sUIt of a revaluation, is recoqnised 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 assec less ts residual value, over the useful economic life of that asset as follows: Freehold propety Plant, caravans & vehicles Fixtures and fittings Boats & sports equipment 2% straight line 20% straight line 200A straight line 200A 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. Iivhere the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed ft)r 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 esb"mated 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 def ned 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 refijnd. 19
Share Discovery Village Company Limited by Guarantee Notes to the Financial Statements (continuedj Year ended 31 March 2025 Accounting policies (conllnuedj Defined contribution plans (Conllnued) INhen contributions are not expected to be settled wholly within 12 months of the end of the reportj'ng date in which the employees render the related seplice, 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. 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. Donations and legacies Unrestricted Total Funds Unrestricted Total Funds Funds 2025 Funds 2024 Donations Donations 35,327 35,327 9,874 9,874 Charitable activities Unrestricted Funds Restricted Total Funds Funds 2025 Accommodation & Activities Department Of Education Grant Income Received Esme Mitchell Trust ACNI Lottery Fund Fermanagh and Omagh Caprtal Grant 1,308,510 1.308,510 10,000 5,421 2.780 10,000 5.421 2,780 1,326,711 1.308,510 18,201 Unrestricted Funds Restricted Total Funds Funds 2024 Accommodation & Activities Department Of Education Grant Income Received Esme Mitchell Trust ACNI Lottery Fund Fermanagh and Omagh Capital Grant 1,227,042 3,091 1,227,042 3,091 1,230,133 1,230,133 20
Share Discovery Village Company Limited by Guarantse Notes to the Financial Statsments (c(¥ntinued) Year ended 31 March 2025 Other trading activities Unrestricted Total Funds Unrestricted Total Funds Funds 2025 Funds 2024 Cafe income ststic site fees, rates & electricity Bar & vending machines Other income 30,182 111,792 25,827 4,705 172,506 30,182 111,792 25,827 4,705 172,506 48.473 96.521 39,128 4,045 188,167 48,473 96,521 39,128 4,045 188,167 Investment income Unrestricted Total Funds Unrestricted Total Funds Funds 2025 Funds 2024 Deposit Accounts 176 176 582 582 Other income Unrestricted Total Funds Unrestricted Total Funds Funds 2025 Funds 2024 Gain on fixed asset 227,115 227,115 10. Costs of other trading activities Unrestricted Total Funds Unrestricted Total Funds Funds 2025 Funds 2024 Costs of other trading activities - Shop costs 12,971 12,971 16,655 16,655 21
Share Discovery Village Company Limitsd by Guarantse Notes to the Financial Statements (continued) Year ended 31 March 2025 11. Expenditure on charitable activities by fund type Unrestricted Funds Restricted Total Funds Funds 2025 Shared community education, recreation & creative arts Support costs 902,429 797,589 10,000 912,429 797,589 1,710,018 1.700,018 10,000 Unrestricted Funds Restricted Total Funds Funds 2024 Shared community education, recreation & creative arts Support costs 931,384 909,084 931,384 909,084 1.840,468 1,840,468 12. Expenditure on charitable activities by activbty type Activities undertaken directly Support costs Total funds 2025 Total fund 2024 Shared community education. recreation & creative arts Governance costs 912.429 739,881 57,708 797,589 1,652,310 57,708 1,710,018 1,758,434 82,034 1.840,468 912.429 13. Analysis of support costs Analysis of support costs Total 2025 Total 2024 Staff costs Premises Governance costs 199.341 540,540 57.708 797,589 199,341 540,540 57,708 797,589 184,044 643,006 82.034 909,084 14. Net gains on investments Unrestricted Total Funds Unrestricted Total Funds Funds 2025 Funds 2024 Gainsl{10sses) on investment property 308,992 308,992 22
Share Discovery Village Company Limited by Guarantee Notes to the Financial Statements (contlnued) Year ended 31 March 2025 15. Net (expenditure)lincome Net (expenditure)lincome is stated after chargingl{crediting}: 2025 2024 Depreciation of tangible fixed assets 189,224 183,881 16. Auditors remuneration 2025 2024 Fees payable for the audit of the financial statements 7,770 7,262 17. Staff costs The total staff costs and employee benefits for the reporting period are analysed as follows: 2025 2024 Vvages and salaries Social security costs Employer contributions to pension plans 718.326 51.825 18.318 724,540 59.319 14,630 798,489 788,469 The average head count of employees during the year was 33 {2024'. 27). The average number of full-time equivalent employees during the year is analysed as follows: 2025 2024 No. Number of staff 33 27 No employee received employee benefits of more than £60,000 during the year (2024: Nil). 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 £77,797 (2024: £109,001). 18. Trustee remuneration and expenses During the prior year Share purchased goods and services from two suppliers that of the trustees are associated with, these transactions totalled (2024.. £23,532). No Trustee in the charity received any benefit or payment in relation to these transactions or another transaction. The charity trustees were not paid or received any other benefits from employment with the charity in the current year (2024= £Nil). The charity trustees do not recetve reimbursement for travel expenses (2024.. £Nil). No charity trustee received payment for professional or other service supplied to the charity {2024.' £Nil). 23
Share Discovery Village Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 31 March 2025 19. Tangible fixed assets Freehold Plant and Fixtures and propety machinery fittings Equipment Total Cost At 1 April 2024 Additions 5,543,737 894,789 1,500 148,930 680 735.618 7,323,074 11,355 13,535 746,973 7,336,609 At 31 March 2025 5.543,737 896,289 149,610 Depreciation At 1 April 2024 Charge for the year At 31 March 2025 2.942.561 107.869 677,787 49,807 142,923 3,972 681,999 4,445,270 27,576 189,224 3,050,430 727.594 146,895 709,575 4,634,494 Carying amount At 31 March 2025 2.493,307 168.695 2,715 37,398 2.702,115 At 31 March 2024 2.601.176 217,002 6,007 53,619 2.877,804 20. Stocks 2025 2024 Raw materials and consumables 18,295 19,498 21. Debtors 2025 2024 Trade debtors Prepayments and accrued income 118,289 115,409 233,698 110,991 86,544 197,535 22. Investments 2025 2024 Asset Held For Sale 430,000 430.000 Following a prudent assessment of assets which are considered not a core part of operations, number of properties have been categorised as held for sale after being valued and are currently marketed by an external agent.
Share Discovery Village Company Limited by Guarantse Notes to the Financial Statements (continuod) Year ended 31 March 2025 23. Creditors: amounts falling due wlthin one year 2025 2024 Bank loans and overdrafts Trade creditors Accruals and deferred income Social security and other taxes Other creditors Other creditors 64,501 292,255 280,919 250,481 81,556 279,708 283,588 115,084 1,649 17.473 17,443 905.599 779,058 24. Creditors: amounts falling due after more than one year 2025 2024 Bank loans and overdrafts 153.085 202,421 25. Deferred income 2025 2024 At 1 April 2024 Amount released to income Amount deferred in year At 31 March 2025 123,018 (123,018) 83,630 95,292 (95,292) 123,018 123,018 83,630 26. Pensions and other post retirement benefits Defined contribution plans The amount recognised in income or expendrture as an expense in relation to defined contribution plans was £18,318 (2024.. £14.630). 25
Share Discovery Village Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 31 March 2025 27. Analysis of charitable funds Unrestricted funds At 1 Apr 2024 Gains and At losses 31 Mar 2025 Income Expenditure Transfers General funds 404,347 1,516.519 (1,567,569) Designated Fund 2,166,912 (145,420) 2.571,259 1.516.519 (1,712,989) 2,780 356,077 2,021,492 2,780 2,377,569 At 1 Apr 2023 Gains and At losses 31 Mar 2024 Income Expenditure Transfers General funds 48,457 1.655,871 (1.729.981) 121,008 Designated Fund 2,415,062 (127,142) (121,008) 2,463,519 1,655,871 (1,857,123) 308,992 404,347 2,166,912 308,992 2,571,259 A transfer took place in the prior year from designated funds to unrestricted funds due to assets previously held as a designated fund now being held for sale. 26
Share Discovery Village Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 31 March 2025 27. Analysis of charitable funds (continued) Restricted funds At 1 Apr 2024 Gains and At losses 31 Mar 2025 Income Expenditure Transfers Esme Mitchell Trust ACNI Lottery Fermanagh and Omagh Capital Grant 10,000 5.421 (10.000) 5,421 2,780 18,201 (2.780) (2,780) {10,000} 5,421 At 1 Apr 2023 Gains and At losses 31 Mar 2024 Income Expenditure Transfers Esme Mrtchell Trust ACNI Lottery Fermanagh and Omagh Capital Grant 28. Analysis of net assets between funds Unrestricted Funds Restricted Total Funds Funds 2025 Tangible fixed assets Current assets Creditors less than 1 year Creditors greater than 1 year Net assets 2.702,115 734,138 (905,599) (153,085) 2,377,569 2.702,115 739,559 (905,599) (153,085) 2,382,990 5,421 5,421 Unrestricted Funds Restricted Total Funds Funds 2024 Tangible fixed assets Current assets Creditors less than 1 year Creditors greater than 1 year Net assets 2,877,804 674,934 (779.058) (202.421) 2,571.259 2,877,804 674,934 (779,058) (202,421) 2.571.259 27
Share Discovery Village Company Limited by Guarantee Notss to the Financial Ststements {continuedJ Year ended 31 March 2025 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. Going concern The financial statements have been prepared on the going concem basis which assumes that the charty will continue in operational existence of the foreseeable future. The validity of this assumption depends upon the Trustees and managemenvs ability to generate additional income and limit the deficits going forward. The charity is currently a going concern, however if unsuccessfijl in generating additional income, their ability to continue as a going concern may be uncertain. If the charity was unable to continue in operational existence for the ft)reseeable future, adjustments would have to be made to reduce the balance sheet values of assets to their recoverable amounts and to provide for the future liabilities that might arise, and to reclassify fixed assets and long term liabiltties as current assets and current liabilities. The directors believe that it is appropriate for the financial statements to be prepared on the going concern basis. 31. Analysis of changes in net debt At At 1 Apr 2024 Cash flows 31 Mar 2025 Cash at bank and in hand Debt due within one year Debt due after one year Current asset investments 27,901 (81,556) (202,421) 430,000 29,665 17,055 49,336 57,566 (64,501) (153,085) 430,000 173,924 96,056 269,980 32. 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. 33. Related parties The Trustees have considered guidance in relation to related paty transactions and believe there are no transactions that require disclosure. 34. Ethical standards In common with many other businesses of our stze and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements. 28