Charity registration number: 101215
Maghera Cross Community Link
Trustees’ report and financial statements for the year ended 31 March 2024
Maghera Cross Community Link
Trustees’ report and annual financial statements for the year ended 31 March 2024
| Page(s) | |
|---|---|
| Reference and administration information | 1 |
| Trustees’ Report | 2 – 3 |
| Independent examiner’s report | 4 |
| Statement of financial activities | 5 |
| Statement of financial position | 6 |
| Notes to the financial statements | 7 – 10 |
Maghera Cross Community Link
Reference and administration information
Trustees Mr Jon James Boyd Mrs Ruth Watterson Mrs Claire Sweeney Ms Paula Convery Ms Kirsty McFall Ms Jane Mullan Mr Brain Davey Mr Ross Nicholl
Charity Commission number 101215
Registered Office The Link Community Building 49 St Lurachs Road Maghera Co. Derry BT46 5JE
1
Maghera Cross Community Link
Trustees’ report for the year ended 31 March 2024
The trustees present their report and the unaudited financial statements of the charity for the year ended 31 March 2024.
The financial statements are prepared in accordance with the Charities Act (Northern Ireland) 2008, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
Reference and administrative details
Details of registered office and trustees are given on page 1.
Structure, governance and management
The organisation is governed by its Trustees. All new Trustees go through an induction process and are appointed as and when required and based on their skills and experience. The Trustees do not retire on an annual basis.
The Trustees meet on a regular basis throughout the year to manage and control all aspects of the charity and also conduct regular risk assessments of the various operational risks impacting the charity and its projects.
Public Benefit Statement
The public benefit requirement is defined in the Charities Act (Northern Ireland) 2008 and states that purposes must be for the public benefit to be charitable. The trustees confirm that they have complied with the duty to have regard to the guidance issued by the Charity Commission for Northern Ireland under section 4(b) of the Charities Act (the public benefit requirement statutory guidance). The trustees are confident that the activities have helped to achieve the charity’s purposes and provide a benefit to the beneficiaries.
Objectives and activities
The charity’s objectives are:
-
To try and create better cross community relations in the relatively divided community of Maghera. The charity provides a comfortable, safe central facility where individuals and families can feel free to meet, come together and socialise. There will be a range of activities and classes aimed particularly at young people such as dance, music, physical exercise and boxing.
-
To provide an after-schools club where children from both sides of the community will be looked after for 2 hours per day.
-
To provide a food bank to assist most deprived families in an area where 25% of the people are living in child poverty.
Achievements and performance
The trustees are satisfied with the results for the year and the year end position of the charity. They are hopeful that contributions will increase next year.
2
Maghera Cross Community Link
Trustees’ report for the year ended 31[st] March 2024 (continued)
Financial review
The results of the year are fully set out in the statement of financial activities.
Funds held as custodian trustee on behalf of others
The charity holds no funds as custodian trustees on behalf of others.
Statement of trustees’ responsibilities in respect of the financial statements
The trustees are responsible for preparing the trustees’ annual report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities requires the trustees to prepare financial statements for each year. Under that law the trustees have prepared the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law), including FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland”. The trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of the affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charity 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 Charities SORP;
-
make judgements and estimates that are reasonable and prudent;
-
state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The trustees are responsible for keeping proper accounting records that 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 Charities Act (Northern Ireland) 2008. 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.
3
Maghera Cross Community Link
Independent examiner’s report for the year ended 31[st] March 2024
Independent examiner’s report to the trustees of Maghera Cross Community Link
I report on the accounts of the charity for the year ended 31[st] March 2024 which are set out on pages 5 – 10.
Respective responsibilities of trustees and examiners
As the charity’s trustees you are responsible for the preparation of the accounts in accordance with the Charities Act (Northern Ireland) 2008.
It is my responsibility to:
-
Examine the accounts under section 65 of the Charities Act;
-
Follow the procedures laid down in the general Directions given by the Charity Commission for Northern Ireland under section 65(9)(b) of the Charities Act; and
-
State whether particular matters have come to my attention.
Basis of independent examiner’s report
I have examined your charity accounts as required under section 65 of the Charities Act and my examination was carried out in accordance with the general directions given by the Charity Commission for Northern Ireland under section 65(9)(b) of the Charities Act.
My examination included a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also included consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as charity trustees concerning any such matters.
My role is to state whether any material matters have come to my attention giving me cause to believe:
-
that accounting records were not kept in accordance with section 63 of the Charities Act;
-
that the accounts do not accord with those accounting records;
-
that the accounts do not comply with the accounting requirements of the Charities Act; and
-
that there is further information needed for a proper understanding of the accounts to be reached.
Independent examiner’s statement
I have completed my examination and have no concerns in respect of the matters (1) to (4) listed above and, in connection with following directions of the Charity Commission for Northern Ireland, I have found no matters that require drawing to your attention.
_____ Kerry Brennan Chartered Accountant
19C Hillside Road Maghera
4
Maghera Cross Community Link
Statement of financial activities (including income and expenditure account) for the year ended 31 March 2024
| Note Incoming resources Income from charitable activities 6 Total incoming resources Resources expended Cost of charitable activities 7 Total resources expended Net incoming/(outgoing) resources 8 Fund balances brought forward Transfers between funds Fund balances carried forward |
2024 2024 2024 2023 2023 2023 Unrestricted funds Restricted funds Total funds Unrestricted funds Restricted funds Total funds £ £ £ £ £ £ 187,826 80,651 268,477 186,891 64,520 251,411 |
|---|---|
| 187,826 80,651 268,477 186,891 64,520 251,411 |
|
| 140,703 85,441 226,144 150,407 68,224 218,631 |
|
| 140,703 85,441 226,144 150,407 68,224 218,631 |
|
| 47,123 (4,790) 42,333 36,484 (3,704) 32,780 |
|
| 103,552 455 104,007 71,143 84 71,227 (5,825) 5,825 - (4,075) 4,075 - |
|
| 144,850 1,490 146,340 103,552 455 104,007 |
All incoming resources and resources expended in the year presented above are derived from continuing operations.
The statement of financial activities includes all gains and losses in the year.
5
Maghera Cross Community Link
Statement of financial position as at 31[st] March 2024
| Note Current assets Debtors Cash at bank and in hand Total current assets Creditors: amounts falling due within one year Net current assets Total assets less current liabilities Net assets Funds of the charity Restricted funds 10 Unrestricted funds 10 Total charity funds |
2024 £ £ - 146,340 146,340 - 146,340 146,340 146,340 1,490 144,850 146,340 |
2024 £ £ - 146,340 146,340 - 146,340 146,340 146,340 1,490 144,850 146,340 |
2023 £ £ - 42,333 42,333 - 42,333 42,333 42,333 455 104,007 104,007 |
2023 £ £ - 42,333 42,333 - 42,333 42,333 42,333 455 104,007 104,007 |
|---|---|---|---|---|
| 146,340 - |
42,333 - |
|||
| 146,340 | 42,333 | |||
| 146,340 | 42,333 | |||
| 1,490 144,850 146,340 |
455 104,007 104,007 |
The notes on pages 7 to 10 form part of these unaudited financial statements.
6
Maghera Cross Community Link
Notes to the financial statements for the year ended 31[st] March 2024
1. General information
The charity is a company based in Northern Ireland. The registered office of the charity is The Link Community Building, 49 St Lurachs Road, Maghera, Co. Derry, BT46 5JE.
2. Statement of compliance
The financial statements of Maghera Cross Community Link have been prepared in compliance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) effective March 2018 (Charities SORP (FRS 102)), and the Charities Act (Northern Ireland) 2008.
3. Summary of significant accounting policies
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented, unless otherwise stated.
(a) Basis of preparation
These financial statements are prepared on the going concern basis under the historical cost convention. The trustees have prepared the financial statements on the going concern basis, giving careful consideration to the results during the financial year.
Maghera Cross Community Link meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost and transaction value unless otherwise stated in the relevant accounting policy note(s). The financial statements are prepared on a going concern basis. Taking account of the risk review undertaken by the trustees they do not consider there to be a risk to the going concern status of the charity.
(b) Cash and cash equivalents
Cash and cash equivalents includes cash in hand and deposits held at call with banks.
(c) Debtors
Debtors are stated after all known bad debts have been written off and specific provision has been made against all debts considered doubtful of collection.
(d) Incoming Resources
All incoming resources are included in the Statement of Financial Activities when the charity is legally entitled to income and the amount can be quantified with reasonable accuracy.
(e) Resources Expended
Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
(f) Governance costs
Governance costs include those costs incurred in the governance of its assets which are associated with constitutional and statutory requirements.
(g) Allocation and apportionment of costs
All costs relate to the single activity of the charity and are recognised accordingly.
7
Maghera Cross Community Link
Notes to the financial statements for the year ended 31[st] March 2024 (continued)
(h) Fund Accounting
The charity has funds for which it is responsible and which requires separate disclosure. A definition of the various types of fund is as follows:
Restricted Funds
Restricted funds are to be used for specific purposes as laid down by the donor. Expenditure which meet these criteria is identified to the fund, together with a fair allocation of overhead and support costs.
Unrestricted funds
General funds are amounts received or generated and which are expendable at the discretion of the charity in furtherance of its objectives.
4. Critical judgements and estimations of uncertainty
Estimates and judgements are continually evaluated and are based on historical experience and other factors including expectations of future events that are believed to be reasonable under the circumstances.
Critical judgements in applying the entity’s accounting policies
There are no critical judgements in applying the charity’s accounting policies.
Critical accounting estimates and assumptions
There are no critical accounting estimates and assumptions.
5. Income from charitable activities
| Donations Funding Other income |
2024 2024 2024 2023 2023 2023 Restricted funds Unrestricted funds Total funds Restricted funds Unrestricted funds Total funds £ £ £ £ £ £ - 47,852 47,852 - 41,430 41,430 80,651 137,389 218,041 64,520 134,691 199,211 - 2,585 2,585 - 10,770 10,770 |
|---|---|
| 80,651 187,826 268,477 64,520 186,891 251,411 |
8
Maghera Cross Community Link
Notes to the financial statements for the year ended 31[st] March 2024 (continued)
7. Cost of charitable activities
| Costs directly allocated to activities Bank fees Bookkeeping Donations Equipment Gifts / prizes Facilitator costs Foodbank expenses Group Activities – Outings Group Activities – Catering Group Activities - Materials Insurance Joint project Miscellaneous Phone & internet Premises – Heating Premises – Power Premises – Rent Premises – Repairs Room hire Staff costs Staff training Transport TV licence |
2024 2024 2024 2023 2023 2023 Restricted funds Unrestricted funds Total funds Restricted funds Unrestricted funds Total funds £ £ £ £ £ £ 31 125 156 21 134 155 - 150 150 - 150 150 - 500 500 - 600 600 - - - 889 6,282 7,171 - 140 140 - 649 649 3,906 11,899 15,805 9,480 14,250 23,730 - 55,447 55,447 - 34,614 34,614 1,269 3,457 4,726 110 5,887 5,997 8,739 2,504 11,243 2,228 6,234 8,462 267 2,839 3,106 1,046 4,039 5,085 - 707 707 - 697 697 - - - - 22,102 22,102 321 373 694 330 75 405 39 465 504 150 396 546 1,350 1,150 2,500 1,750 750 2,500 1,947 2,862 4,809 2,174 2,748 4,922 5,516 3,294 8,810 5,390 8,400 13,790 - 1,313 1,313 - 1,716 1,716 180 541 721 - - - 50,500 51,686 102,188 43,386 38,690 82,076 8,998 1,092 1,595 - 1,835 1,835 2,378 - 2,378 1,270 - 1,270 - 159 159 - 159 159 |
|---|---|
| 85,441 140,703 226,144 68,224 150,407 218,631 |
8. Net incoming / (outgoing) resources
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| This is stated after charging: | ||
| Staff costs (Note 9) | 50,500 | 38,090 |
| Fees payable to the independent examiner | 150 | 150 |
9
Maghera Cross Community Link
Notes to the financial statements for the year ended 31[st] March 2024 (continued)
9. Analysis of staff costs
| Staff costs Wages and salaries |
2024 £ 50,500 50,500 |
2023 £ 38,090 38,090 |
|---|---|---|
There were no employees who received employee benefits (excluding employer pension costs) of more than £60,000.
The trustees did not receive any emoluments during the year.
10. Fund reconciliation
| General funds Restricted funds |
Opening Balance Income Expenditure Transfers Closing Balance £ £ £ £ £ 103,552 187,826 (140,703) (5,825) 144,850 455 80,651 (85,441) 5,825 1,490 |
|---|---|
| 104,007 268,477 (226,144) - 146,340 |
10