UNDRUM DEVELOPMENT ASSOCIATION Dundrum Development Association Ltd Annual Report and Unaudited Financial Statements for the financial year ended 31 March 2025 Company Number: N1033255 Charity Number: 101252
Dundrum Development Association Ltd CONTENTS Page Reference and Administrative Information Trustees, Annual Report Statement of Trustees, Responsibilities Independent Examinerfs Report Statement of Financial Activities Balance Sheet Notes to the Financial Statements 10-13
Dundrum Development Association Ltd REFERENCE AND ADMINISTRATIVE INFORMATION Trustees Deborah Boden Stephen Calvert Frances Flynn Dr. Patrick Mccomiskey Micheal Rodgers Paul Symington Charity Number in Northem Ireland 101252 Company Registration Number N1033255 Registered Office and Principal Address 30 Carrigvale Dundrum Down BT33 OSW Independent Examiner Malone Accounting Ltd 12 Causeway Road NEWCASTLE Down BT33 ODL Principal Bankers AIB {Nll Ltd 42-44 Hill Street Newry County Down BT34 1AU Solicito Michael F Curran 29 Central Promenade County Down BT33 OAA
Dundrum Development Association Ltd TRUSTEES. ANNUAL REPORT for the financial year ended 31 March 2025 The trustees present their Trustees, Annual Report, combining the Directors, Report and Trustees, Report, and the unaudited financial statements for the financial year ended 31 March 2025. The financial slatements are prepared in accordance with the Companies Act 2006, FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland" and Accounting and Reporting by Charities.. Statement ol Recommended Practice applicable to charities preparing their finanaal statements in accordan with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102). The Trustees, Report contains the information required to be provided in the Trustees, Annual Report under the Slalemenl of Recommended Practice ISORP) guidelines. The trustees of the company are also charity trustees for the purpose of charity law and under the company's constitution are known as members of the board of trustees. In this report the trustees of Dundrum Development Association Ltd present a summary of its purpose, govemance. activities, achievemenls and finanS for the financial year 31 March 2025. The charity is a registered charity and hence the report and results are presented in a form which complies with the requirements of the Companies Act 2006 and, although not obliged lo comply with the Statement of Recommended Practice applicable in the UK and Republic of Ireland FRS 102, the organisation has implemented ils recommendations where relevant in these financial statements. Principal Activity is to granl financial aid to support any efforts to enhance the village and the quality of life of ils inhabilanls. Mission. Objectives and Stratsgy Mission Statement The Charity's principal activities continue to be concemed with the following in Dundrum Village.. 1. The promotion of Economic Regeneration 2. To address the problem of dereliction in the village 3. To provide financial support lo all of the voluntary and sporting groups in the village. Structure. Governance and Management Structure Dundrum Development Association Ltd acts under the governance of its constitution dated 28 June 2016. The Charitable Company held 5 board meetings during the year and all 5 trustees were present at each meeting. Review of Activities, Achievements and Perforniance The Association continues lo support all voluntary and sporting groups in the village, wilh these provisos.. 1. The group musl be properly constituted. 2. The group must have its own Bank Account with at leasl two signatures. 3. Full sight of the group's finances must be provided lo the Associalion. 4. Some contribution towards the funding of any project musl be provided. In the period the Charity has provided funding towards.. Dundrum Village Association towards the costs ofthe Dundrum Summer Festival. Society of St Vincent de Paul to assist in allaying poverty in the village through the funding of fo¢)d, energy costs. clothes and furniture. Funding of the Dundrum Pensioners Christmas lunch. The Pantry Foodbank to assist with food parlS for families and individuals in the village. Murlough Athletic Club for their annual GR8 Dundrum Run. The Charity continues to improve communication links to the village with the ongoing updating of a publicly available bespoke website which incorporates a funding application fomi lo support grant applications from village organisations. The end of the reporting period leaves the Association in a strong position to pursue its objectives.
Dundrum Development Association Ltd TRUSTEES. ANNUAL REPORT for the financial year ended 31 March 2025 Expenditure During the year, grants totaling £28.LW were paid out to groups in the village. The directors are pleased with the impact we have had in the village and look forward to doing more. Results and Dividends At the end of the financial year the charity has assets of £2.091,766 (2024 - £2.056,362) and liabilities of £1.453 (2024 - £1,466). The nel assets of the charity have increased by £35,417. Trustees The truslees who ser¥Yed throughout the financial year, except as noted, were as follows: Deborah Boden Stephen Calvert Frances Flynn Dr. Patrick Mccomiskey Micheal Rodgers Paul Symington In accordan with the Constitution. the trustees tire by rotation and. being eligible. offer themselves for re-election. Compliance with Sector-wide Legislation and Stsndards The charity engages pro-actively with legislation, standards and codes which are developed for the sector. Dundrum Development Association Ltd subscribes to and is wmpliant with the following.. The Companies Act 2006 The Charities SORP {FRS 102) Transactions Involving TNstees No Trustee received remuneration or any other benefft from the Charity during the year. Approved by the Board of Trustees on 11 November 2025 and signed on its behalf by: Stephen Calvert Trustee Dr. Patric Trustee Mccomiskey
Dundrum Development Association Ltd STATEMENT OF TRUSTEES, RESPONSIBILITIES for the financial year ended 31 March 2025 The trustees. who are also directors of Dundrum Development Association Ltd for Ihe purposes of company law, are responsible for preparing the financial slatemenls in accordance with applicable law and regulalions. Company law requires Ihe trustees as the directors to prepare financial statements for each financial year. Under that law the trustees have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable lawl including FRS102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charity and of the net income or expenditure of the charity for that period. In preparing these financial stalemenls. the trustees are required to.. select suitable accounting policies and apply them consislenlly.. make judgements and estimates that are reasonable and prudent.. slate whether the financial statements have been prepared in accordance with the relevanl financial reporting framework, identify those standards, and note the effect and the reasons for any material departure from those standards.. and prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation. The Iruslees confirm that they have complied with the above requirements in pparIng the financial stalemenls. The trustees are responsible for keeping adequate accounting records that are sufficient lo show and explain the charity's transactions and disd05e with reasonable arLuracy at any lime the financial position of the charity and enable them lo ensure that the financial statements Gomply 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. Approved by the Board of Trustees on 11 November 2025 and $Sgned on Its behalf by: / a/e/ Stephen Calvert Trustee Dr. Patrick Mccomiskey Trustee
Dundrum Development Association Ltd INDEPENDENT EXAMINER'S REPORT TO THE BOARD OF TRUSTEES OF DUNDRUM DEVELOPMENT ASSOCIATION LTD We have examined the financial statements of the charily for the financial year ended 31 March 2025, which comprise the Statement of Financial Activities (incorporating an Income and Expenditure Account), the Balance Sheet and the related notes. This report is made solely tothe charity's members, as a body, in accordancewith Chapter3 ofPart 16 ofthe Companies Act 20C6. Our work has been undertaken so that we might compile the financial statements that we have been engaged to compile, report lo the Board of Trustees that we have done so, and slate those mattefs that we have agreed to state to them in this report and for no other purpose. To the fullest extent pemiitted by law, we do not accept or assume responsibility to anyone other than the Gharity and the charity's members, as a body, for our work, or for this report. Respective responsibilitles of trustees and examlner The chanty's trustees (who are also the direclors of the company for the purposes of company law) are responsible for the preparation of the financial statements in arx0rdan wilh Ihe requirements of the Companies Acl 2006. The charity's trustees consider that an audit is nol required forthis financial year under Chapter 3 of Part 16 of the Companies Act 2006 and that an independent examination is required. 11 is our responsibility lo.. examine the financial statements under section 65 of the Charities Act; follow the procedures laid down by the general Diredions given by the Charity Commission for Northem Ireland under section 65(9)(b) of the Charities Act- and state whether particular matters have come to our attention. Basis of independent examinerfs report We have examined your charity's financial statements as required under section 65 of the Charities Act and our examination was carried out in accordance with the general Directions given by the Charity Commission for Northern Ireland under section 65{9}Ibl of the Charities Act. An examination includes a review of the accounting records kept by the charity and a comparison of the financial statemenls presented with those records. It also includes consideration of any unusual items or disclosures in the financial statements and seeking explanalions from the trustees conceming any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts presenl a 'true and fairf view and the report is limited to those matters sel out in the statement below. In connection wilh our examination, no matter has Come to our attention which gives us cause to believe that in, any material respect.. accounting records were not kept in accordan with section 386 of the Companies Act 2006 the financial statements do not accord with those accounting records the financial statements have not been prepared in accordance with the accounting requirements of section 396 of the Companies Act 2006 and with the methods and principles of the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Stsndard applicable in the UK and Republic of Ireland {FRS102} there is further infomiation needed for a proper understanding of the accounts to be reached. Independent examlner's statement We have no concems and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached. Aidan Malone Malone Accounting 12 Causeway Road NEWCASTLE Down BT33 ODL Northern Ireland Dats: 11 Novernber 2025
Dundrum Development Association Ltd STATEMENT OF FINANCIAL ACTIVITIES Ilncorporating an Income and Expendlture Accountl for the financial year ended 31 March 2025 Unrestricted Funds 2025 Total Unrestricted Funds Funds 2025 2024 Total Funds 2024 Notes Incorning Resources Investments 70.914 70,914 56,715 56,715 Resource8 Expended Charitable activities 35.497 35,497 60,316 60,316 Net incorningloutgolng resources before transfers 35,417 35,417 (3.601) (3,601) Gross transfers belween funds Net movemènt in funds for the flnanclal year 35,417 3S,417 13.601 J 13,601 > Reconciliation of fund8: Total funds beginning of the year 12 2,054,896 2,054.896 2,058,497 2,058,497 Total funds at the end of tho year 2,090,313 2,090.313 2.054,896 2.054,896 The Statement of Financial Activitles includes all gains and losses ffjcognised in the financial year. All income and expenditure relate lo continuing activities. The notes on pages 10 to 13 form part of the finanual statements
Dundrum Development Association Ltd Company Number: N10332SS BALANCE SHEET as al 31 March 2025 2025 2024 Notes Fixed Assets Tangible assets Inveslments 230.900 230.900 230,901 230,901 Current Assets Debtors Cash al bank and in hand 168,108 1,692,757 168,108 1,657,353 1.860,865 1,825,461 Creditors: Amounts falllng due wlthln ono year 10 (1,453) (1,466) Net Current A88ets 1,859,412 1.823,995 Totsl Assets less Current Llabllltle8 2,090,313 2,054,896 Fund8 General fund (unrestricted) 2,090,313 2,054,896 Total fund8 12 2,090,313 2,054,896 These financial statements have been prepared in accordance with the special provisions relating to small companies wilhin Part 15 of the Companies Act 2006. For the financial year ended 31 March 2025 the charity was entitled to exemption from audit under section 477 of th8 Companies Act 2006., and no notice has been deposited under section 476. The trustees confirm Ihal the members have not required the company to obtain an audit of its fin8ncial statements for the financial yeaf in question in accordance with section 476 of the Companies Act 2¢)06. The trustees acknowledge their responsibilities for ensuring that the charity keeps accounting records which comply with section 386 and for preparing financial slalemenls which give a true and fair view of the state of affairs of the charity as at the end of the financial year and of ils profil and loss for the financial year in accordance with the requirements of sections 394 and 395 and which otherwise comply with the requirements ofthe Companies Act 2006 relating to financial stalemenls, so far as applicable to the charity. Approved by the Board of Trustees and authort8ed for188ue on 11 November 2025 and Slgned on Its bohalf by Stephen Calvert Trustee Dr. Patrick Mccomiskey Trustee The notes on pages 10 to 13 form part of the financial slalements
Dundrum Development Association Ltd NOTES TO THE FINANCIAL STATEMENTS for the financial year ended 31 March 2025 GENERAL INFORMATION Dundrum Development Association Ltd is a company limited by shares incorporated in Northern Ireland. The registered office oflhe company 1$ 30 Carrigvale, Dundfum, Down, BT33 Oswwhich is also the principal place of business of the company.The financial statements have been presented in Pound {£) which is also the functional currency of Ihe company. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The following accounling policies have been applied consistently in dealing with items which are considered material in relation to the charity's financial statements. Basis of preparation The financial slalemenls have been prepared on the going concem basis undef Ihe historical cost convenlion, modified to include certain items at fair value. The financial statements have been prepared in accordance with the Stalemenl of Recommended Practice {SORPI "Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland FRS 102" As permitted by the Companies Acl 2006, the charity has varied the standard fomials in that act for the Statement of Financial Activities and the Balance Sheet. Departures from the standard formats are lo comply wilh the requirements of the Charilies SORP and are in compliance with section 4.7, 10.6 and 15.2 of that SORP. statement of compliance The financial statements of the charity for the financial year ended 31 March 2025 have been prepared on the going concem basis and in accordance with the Slatement of Recommended Practice ISORP)"Accounting and Reporting by Chartties preparing their account5 in accordance wilh the Financial Reporting Standard applicable in the UK and Republic of Ireland FRS 102" Cash flow statement The charity has availed of the exemplion in FRS 102 from the requirement to produce a cash flow statement because it is classified as a small charity. Incoming Resources All income is recognised once the charily has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably. Resources Expended All resources expended are arxounted for on an accruals basis. Charitable donations represent grants given to local associations to further the purposes of the charity. Charitable activities include maintenance and insurance. Investments Investments held as fixed assets are stated al cost less provision for any pemanent diminution in value. Income from other financial fixed asset investments together with any related tax credit is recognised in the profit and loss account in the year in which it is receivable. Debtors Debtors are recognised at the settlement amount due after any discount offered. Prepayments are valued at the amount prepaid net ofany trade discounts due. Incorne re¢o9nised by the charity from government agencies and other co-funders, but not yet reIVed al year end, is included in debtors. Cash at bank and in hand Cash at bank and in hand comprises cash on det)osit at banks requiring less than three months nolice of wilhdrawal. Taxation No current or deferred taxation arises as the charity has been granted charitable exemption. Irrecoverable valued added tax is expensed as incurred. 10
continued Dundrum Development Association Ltd NOTES TO THE FINANCIAL STATEMENTS for the finanaal year ended 31 March 2025 INCOME INVESTMENTS Unrestricted Restricted Funds Funds 2025 2024 Bank Interest Received 70,914 70,914 56,715 EXPENDITURE CHARITABLE ACTIVITIES Direct Costs Other Costs Support Costs 2025 2024 Dundrum Village Festival St Vincent de Paul The Pantry Food Bank Village Repairs Pensioners, Christmas Lunch Office costs Murlough Athletic Club Governance Costs (Note 4.2) Dundrum GAC Dundrum Village Assoaation Dundrum Coastal Rowing Club 12,720 7.000 5.000 4,605 12,720 7,000 5,000 4,605 1.840 1,523 1,500 1,309 7,702 7,000 3,615 1,192 1,523 1.500 1,309 1,563 6,320 2,528 30,000 35.497 35,497 60,316 GOVERNANCE COSTS Dire¢t Costs Other Costs Support Costs 2025 2024 Chantable activities - govemance costs 1.309 1,309 1,563 NET INCOMING RESOURCES 2025 2024 Net Incoming Resources are stated after ¢h•rgingl(crediting): Independent Examinels remuneration.. independent examination services 1,309 1,563 INVESTMENT AND OTHER INCOME 2025 2024 Bank interest 70.914 56,715 TANGIBLE FIXED ASSETS Land Total Cost At 31 Marth 2025 230,9)0 230,900 Net book value At 31 March 2025 230,900 230,900 At 31 Marth 2024 230.9)0 230,900 11
ontinued Dundrum Development Association Ltd NOTES TO THE FINANCIAL STATEMENTS for the finanaal year ended 31 March 2025 INVESTMENTS Group and participating undertakings Total Investments Cost At 31 Marth 2025 Net book value At 31 March 2025 At 31 March 2024 DEBTORS 2025 2024 Amounts owed by group entities 168.108 168,108 10. CREDITORS Amounts falling due within one year 2025 2024 VAT 1.453 1,466 11. RESERVES 2025 2024 At the beginning of the year Surplusl(Deficit} for the financial year 2.054.896 35,417 2,058,497 (3,601) At the end of the year 2.090.313 2,054,896 12. FUNDS 12.1 RECONCILIATION OF MOVEMENT IN FUNDS Unrestricted Funds Total Funds At 1 April 2023 Movement during the financial year 2.058,497 {3,601) 2,058,497 13.6011 Al 31 March 2024 Movement during the financial year 2.054,896 35,417 2.054,896 35,417 At 31 Marth 2025 2.090,313 2,090.313 12.2 ANALYSIS OF MOVEMENTS ON FUNDS Balance 1 April 2024 Income Expenditure Transfe between funds Balance 31 March 2025 Unrestricted funds General 2,054,896 70,914 35,497 2.090,313 Total funds 2.054.896 70,914 35,497 2,090,313 12
continued Dundrum Development Association Ltd NOTES TO THE FINANCIAL STATEMENTS for the financial year ended 31 March 2025 12.3 ANALYSIS OF NET ASSETS BY FUND Fixed assets - charity use Financial fixed assets Current assets Current liabilities Totsl Unreslricled general funds 230,900 1,860,865 11,453) 2,090,313 230,900 1,860,865 11,453) 2,090,313 13. RELATED PARTY TRANSACTIONS The charity engaged the services of Dunmore Construction for repair work needed in the village. The director of Dunmore Construction is a trustee of the charity. Fees to Dunmore Construction were agreed on normal commercial terms. At 31 March 2025 fees amounting to £1400 had been paid to Dunmore Construction. None of the trustees received reimbursement of expenses, remuneration or other benefit from their work with the charity. 14. POST-BALANCE SHEET EVENTS There have been no significant events affecting the Charity since the finan¢ial year-end. 13