Caledon Regeneration Partnership Limited Annual Report For the year ended 29 February 2024 Reglstered Number: N1031907 Reglstered Charlty Numbpr: NIC 101254 Noel Conn & Company Chartered Accountants
Caledon Regeneration Partnership Limited Annual Report for the year ended 29 February 2024 Contents Directors and Trustees and Other Information................. Directors, and Trustees report.... Statement of Directors, and Trustees, Responsibilities........ Independent Accountanfs report.. statement of Financial Activities statement of Financial Position Notes to the financial statements.......,....................................... .10
Caledon Regeneration Partnership Limited Directors, Trustees and Other Infomiation Directors Mr Richard Blakiston-Houston Mrwilliam James Beattie The Earl of Caledon Mr Jim Brady Mr John Casey Mr Christopher Gill Trustees Mr Roger John Burton Mr David James Brady Mr William Jam8s Beattie Mr John Casey Mr Richard Blakiston-Houston The Earl of Caledon CounGillor Frances Burton Mr Christopher Gill Ms Connie McNamee Mrs Eloise Shery Mr Dwayne McGlone Councillor Gael Gildemew Counclllor Kevin McElvogue Councillor Mark Robinson Secretary and registered offic8 Mr John Casey 42 Main Street Caledon County Tyrone BT68 4TZ Reporting Accountants Noel Conn & Company 7 Seven Houses English Street Amiagh County Anagh BT617LA Bankers AIB 18120 Scotch Street Dungannon County Tyrone BT701AZ Charity Commission Northern Ireland Number NIC101254
Caledon Regeneration Partnership Limited Directors, and Trustees, report for the year ended 29 February 2024 The director5, and trustee5', present their report and the unaudited financial statements for the year ended 29 February 2024. Structure, governance and management The charity is an incorporated body, and is under the control of the Directors and Trustees a5 detsiled out in Ihe charity constitution. The charity is recognised as a chanty under the Charity CommissiDn for Northem Ireland as at the date of registration being 2 March 2015. Organlsation The Directors and Trustees who have seNed during the year are detailed out on page 2. Publlc Benefit The Directo and Truste85 believe that both our purposes and the activitses undertaken in this last financial year clearly satisfy elernents of the public benefit requirement. Statement of Publlc 8eneflt The direct benefit is for the Preservation ofthe built, industrial and envlronmental heritsge of the village and its environment, thus preseNing Caledon's unique and individual character for the enjoyment of current and future generatlons and offering economic benefft to the local and regional communities derived from seDJicing the developing niche tourism markets in respect of the exploration of culture and heritage. There is also to be a benefit to the inhabitants of the village, derived by the provision of good quality housing stock thus enhancing quality of lrfe and health, and the provision of a number of attractive restored public buildings for community use, encouraging communty cohesion and reducing isolation among the inhabitants of the village and the surrounding rural area. Caledon has been transformed from a near derelict state to a very attractive place to live and work leading to a great sense of pride among local people. By enhancing education through a joint exploration of heritage and culture, people of differing backgrounds and political opinion have benefited frDm the OPPDrtunity to explore new perspectives. The development of 8 thriving allotment community has had broad spectrum beneficial effects within the local community, enabling the growers and their families to eat more healthily while cutting household expenditure with the added benefit of locally sourced fresh food and reduced food miles. People from different cultures are afft)rded the opportunity to interact in a relaxed environment exploring a shared interest, thus building trust and tolerance, which has had a particularly beneficial effect in respect of the integration of ethnic minorities within the local community. Committee members are gaining useful eXpellen in govemance and gaining confidence in their skills and abilities. The involvement of children in the project from different cultures and traditions will have far reaching benefits both in respecl of health and future communty cohesion, The impressive transfomiation of the village from a near derelict state is evidential in a tangible sense. The benefits to the people have been evidenced through detailed public consultation, the Caledon 2030 Vison - the programme of restoration was regarded as highlmedium priority and the recognition and interpretation of the village's natural reSoUS as high priority. Overall, there is a very notable feeling of wellbeing and pride among the local community, new business has been attracted to the village and the fdbaSk from visitors is very positive. The benefits of advancing education and encouraging appreciation of all matters relating to history, heritage and culture can be evidenced through good attendance at talks and exhibitions, the setting up of a community led local history group and the willingness of the local community to join and contribute to project steering groups. Any private benefit is incidental in the sense that most of the trustees are local communty members and are therefore able to benefit from the attractive living and working conditions.
Caledon Regeneration Partnership Limited Objectives and Activities Caledon Regenerab'on Partnefship makes funding applications in respect of and manages restoration projects with regard to the conservation of listed buildings in Caledon and those deemed at risk on the BARNI register. We promote and protect environmental heritage in the village and environment by monitoring planning applicab'ons, tree protection orders etc. We organise exhibitions, lectures and working groups on the subject matter of history and culture and raises funds and manage community Projects in order to improve the wellbeing, social welfare and build community cohesion. Projects Work continues on the Village Plan for Caledon developed by CRP in partnership with the King's Foundation with one of the significant opportunities identified lo address the restorats'on and repurposing of the building known as Caledon Stores. The building is located al Bank Teace in Caledon Co Tyrone and its proposed regenerat'on is led by the village's established heritage organisation Caledon Regeneration Partnership ICRPI. The project will see Caledon Stores restored and repurposed as a rural childcare lafter-schooll enterprise on the ground floor with two affordable residential housing units located on the first floor. These proposed uses have been identified through a feasibility study on the building and community consultalj'on, including with the exists'ng childcare provider based at Caledon Woolstore who will operate this new enterprise as an extension of her existing business Caledon Daycare. The proposed restoration follows on from the restoration of the Woolstore (20211 which was undertaken with support from the Village Catalyst pilot scheme through Department for Agriculture, Environment and Rural Affairs {DAER41 and Department for Communities (Dfc) Historic Environment Division in addition to the National Lottery Heritage Fund and Mid Ulster District Council. With a SUC$$fUl childcare (now grown to 70 registrations from an initial 25 on opening) operating from the Woolstore, demand has bn identified for provision of additional childcare in the fomi of an aftef-schoollhomework facility in the village. Recognising Ihe importance of financial viability of any proposal, this will be complemented by two affordable housing units which will be available for rentavlong temi lease, accommcrtjation also being identified by the feasibility study as a need in the village. The proposal has been developed in response to evidenced need from the existing childcare provider based in Caledon Woolstore who is keen to expand their existing service provision to meet growing demand. Demand has been identified for dedicated after-school space which will be relocated from the Woolstore to Caledon Stores and will enable the freed up space at the Vvoolstore to be re-registered as an additional baby room, the existing room being at full Capacity with a waiting list in pla. It is anticipated that the existing after-school registrations will increase as pre-school children move into primary school education at local primary schools, further evidencing demand for additional childcare Spa and demonstrating the impact of Ic(ally available childcare on rural communities. Community consultation has been undertaken with local families which included a community survey while liaison with Southem Health and Social Care Trust {SHSCT) will ensure regulatory compliance in relation to childcare provision. The socioeconomic profile for the area has identified a need for child based services, almost one quarter 122010) of the catchment being aged under 14 years, higher than the Nl average while the privale rented housing seGtor is greater than the Nl average, indicating demand for affordable housing in the Caledon area. The proposed restoration has significant potential to contribute to policy goals at locallDistrict and regional level, generating impacts in key areas including- Rural heritage and conservation Access to services to overcome rural isolation Tackling rural povety through creating local employment Supporting families and children Promoting inclusion and community cohesion
Caledon Regeneration Partnership Limited The proposal also ties in with the rentlY updated Village Plan for Caledon, developed by CRP in partnership with the King's Foundation. The promoters recognise the importance of linking with and adding value to Village Plan proposals and better use of historic spaces and buildings, including those in the Mill Street area, has been identified within the plan as ntral to the sc(ial, economic and physical regeneratson of the village. Dividends and transfers to reserves In accordance with the Memorandum of Association no portion of the company's income may be paid by way of dividend. Financial Review and Reserves The principal Sou[S of income are from grants, donations and rental income. The financial statements show a surplus for the year of £600. By order of the Trustees Mr D J Brady Director an Date rustee
Caledon Regeneration Partnership Limited Statement of Directors, and Trustees, Responsibilities The Directors and Tnjstees, are responsible ft)r preparing the DireGtors' and Trustees, Annual Report and the Financial Statements in aGGoance with the applicable law and United Kingdom Accounting Standards. The law applicable to charities in Northem Ireland requires the trustees to prepare financial statements for each financial year. Under that law the trustees have prepared the financial statements in accordance with Generally Accepted Accounting Practi in the United Kingdom (accounting stsndards issued by the Financial Reporting Council in the UK, including Charities SORP IFRS102). Accounting and Reporting by Charities: Statements of Recommended Practice applicable to Ghatities preparing their accounts in accordancè with the Financial Reporting Standard applicable in the Uniled Kingdom and Republic of Ireland (FRS 102) and promulgated by the Instilute of Chartered Accountants in the United Kingdom and United Kingdom Lawl. Under that law the trustees must not approve the financial statements unless they are satisfied that they gtve a true and fair view ofthe state of the affairs of the charity and of the statement of financial activities of the GhaTity for that period. In prèparing these financial statements, the directors and trustees ara required to.. select suitable accounting poliGies and then apply the consistently, Obser the methods and principles in the Charibes SORP; make judgements and estimates that a reasonable and prudent., state whether the application of accounting standards have been followed, subject to any material departures disclosed and explained the Financial Statements. prepare the Financial Stalements on the going concem basis unless it is inappropriaÈ to presume that the charity will continue in operation. The directors and trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act (Northern Ireland) 2008 and the Charity (Accounts and Reports) Regulations (Northem Ireland) 2008. They are also responsible for safeguarding the assets ofthe charity and hence for tsking reasonable steps for the prevention and detection of fraud and other irregularities.. The directors and trustees are responsible for the maintenance and integrity of the Gorporate and financial information included on the GhaTities website. Legislation in the United lfjngdom governing the preparation and dissemination of financial statements may differfrom legislation in other jurisdictions. Reporting Accountants A resolution to re-apFrt)int the reporting accountants, Noel Conn and Company will be proposed at the annual general meeting. By Order of the bo MrDJBra Dlrector Date Trustee
Caledon Regeneration Partnership Limited Independent accountants, report to the members of Caledon Regeneration Partnership Limited We report on the )Unts for the year ended 29 Febfuary 2024 as set out on Pages 7- 14. Respective responsibilities of Charity trustees and examiner As the charity trustees land also the directors of the company for the purposes of company lawl you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006. Having being satisfied that the charity is nol subject to audit under company law, arKI is eligible for independent examinaknon, it is our responsibilty to.. examine the accounts under section 65 of the Charities Act follow the procedures laid down in the general Directions given by Charity Commission for Northem Ireland under section 65{9}{b) of the Charib'es Act state whether particular matters have come to our attention. Basls of independent accountants, report We have examined your charity accounts as required under section 65 of the Charities Act and our examination was arried out in accordance with the general Directs"ons given by the Chanty Commission for Northern Ireland under section 65{9)Ib) of the Charities Act. The examination included a rewew of the accounts'ng 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 Sk1j explanats'ons from you as charity trustees conceming any such Matters. Our role is to stste whether any material matters have come to our attents'on giving us cause to believe.. That accounting records were not kept in &cordance seclion 386 of the Companies Act 2006 That the accounts do not accord with those oUntIng records That the &counts do nol comply with the oUntIng requirements of section 396 of the Companies Act 2006 and with the methods and principles of the Charib'es Statement of Recommended Practice applicable to charities preparing their accounts in acLordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland That there is further infomabon needed for a proper understanding of the accounts to be reached. We have completed our examination and have no COnmS in respect of the matters listed ab)ve and, in connection with following the Directions of the Charity Commission for Northem Ireland, VR have found no matters that require drawing to your attention. Noel Conn & Company Chartered Accountants & Registered Auditors 7 Seven Houses English Street Armagh BT617LA 12 November 2024
Caledon Regeneration Partnership Limited Statement of Financial Activities for the year ended 29 February 2024 Unrestricted Funds 2024 Restricted Funds 2024 Total Funds 2024 Total Funds 2023 Notes Incomin Resources.. Voluntary income Grants Re]Ved General Donations Activities to Generate Funds Rental Income Hire of Rooms Investment and Other Income 2,625 2,625 220 5,000 2,650 220 29,868 168 29,868 168 21,957 456 Total InGoming Resources 30,256 2,625 32,881 30,063 Resources Ex ended.. Charltable ActNities Charitable Donations Charitable Activities Administration Costs Establishment Costs Olher Costs 850 650 1,280 850 650 15,733 14,628 420 1,572 12,017 13,434 2,467 29,490 14,453 14,628 687 {267) 2,513 Total Resources Expended 29,768 32,281 Net Incomel(Expenditure) for th8 year 11 488 112 600 573 Gross Transfers between funds Net Incomel(Expenditure) for the year (545) (57) 545 657 600 573 Transfers inl{out) of Reserves Reconciliation of Funds Total funds brought forward {2,272) 3,373 1,101 528 Total Funds to Cary Forward (2,329 4,030 1,701 1,101 All amounts above relate to conlinuing operations of Ihe company. The company has no recognised gains or losses other than those included in the results alK)ve and therefore no separate ststernent of total recognised gains and losses has been presented. There is no difference beeen the defiGit on ordinary aclivities before taxalion and the surplus for the year stated above and their historical c05t equivalents.
Caledon Regeneration Partnership Limited Balance sheet at 29 February 2024 Employment of Capltal Notes Unrestricted Restricted Funds Funds 2024 2024 Total Funds 2024 Total Funds 2023 Fixed Assets Tangible Assets 1,127,307 1,127,307 1,139,326 Current Assets Debtors and Prepayments Cash at Bank and in Hand 1,824 859 1,824 1,874 7,500 11,588 1,015 2,683 Current Liabllltles Bank Overdrafts Creditors: Amounts due within one year 15,397 15,397 5.012 20,409 7,109 12,846 10 5,012 ,012 15,397 Net Current Assets (2,329) (14,382) (16,711) (8671 Total Assets Less Current Liabilities (2,329) 1,112,925 1,110,596 1,138,459 Provisions for Llabilities and Charges Deferred Income - Capital Grants 11 1,108,895 1,108,895 1,137,358 Net Assets 2,329 4,030 1,701 1,101 Funds Unrestricted Funds Restricted Funds 13 13 (2,329) 4,030 1,701 For the financial year ended 29 February 2024 the company was èntitled to exemptlDn from audit under section 477 of the Companies Act 2006. No Member of the company has deposited a notice, puuant lo seclion 476, requiring an audit of these financial statements under th8 Companies AGt 2006. Tho directors acknowledge their responsibilities for ensuring that the company keeps accounting records which comply with section 386 of the Act and for preparing financial statements which give a ttue and fair view of the state of affairs of the Gompany as at the end of the financial year and of its deficit for the financial year in accordance with the requirements of seclions 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to accounts, so far as applicable to the company. These accounts have been prepared in acGordance with the sp8cial provisions applicable to companies subject to the small companls regime within Part15 of the Companies act 2006. The financial ststements have been approved by the b and authDrised far issue on 12 November 2024. (2,272) 3,373 1,101 MrDJB Casey Secretarytrruste Direct ITrustee
Caledon Regeneration Partnership Limited 10 Notes to the financial statements for the year ended 29 February 2024 Principal accounting policies The financial statements have been prepared in accordance with applicab Accounting Standards. A summary of the mre important accounting policies is set out below. Basis of accounting The financial statements are prepared in accordance with the historical cost convention. Incoming resources Voluntary income or capital is included in the Statement of Financial Activities when the charity is legally entilled to it, its financial value can be quantified with reasonable certainty and there is reasonable certainty of its ultimate receipl. Entitlement to legacies is considered established when the charity has been notified of distribution to be made by the executors. Income received in advance of due perfomance under a contract is accounted for as deferred income until eamed. Grants for activities are recognised as income when the related conditions for legal entitlement have been met. All other income is accounted for on an accrual basis. Resources Expended All resources expended are accounted for on an accrual basis. Charitable activibes include costs of services and grants, support costs and depreciation on related assets. Costs of generating funds similarly include fundraising activities. Non -staff costs not attributed to one category of activity are allocated or apportioned pro-rat to the staffing of the relevant seNice. Finance, HR and administrative staff costs are directly attributable to individual activities by objective. Governance costs are those associated with constitutional and statutory requirements. Restricted Funds Restricted funds are accounted for in accordance with the particular lernis of trust arising from the express or Implied wishes of the donors In so far as these are intended to be binding on the charity. Where such wishes are not intended to be binding, they are taken into account and recognised in appropriately designaled funds. Unrestricted Free ReseNes Free ReseNes represent amount which are expendable at the discretion of the trustees in furtherance of the objects'ves of the charity and which have not been designated for any other purpose. Such funds may be held in order to finance working capital or capital expenditure. Tangible fixed assets Depreciation is calculated so as to write off the cost of tangible fixed assets less their estimated residual values, over the expected useful economic lives of the assets conrned. The principal annual rates and bases used for this purpose a.. - Freehold land and buildings Caledon Beam Engine The Wool Store Straight Line Basis Straight Line Basis Straight Line Basis
Caledon Regeneration Partnership Limited 11 Government grants Grants that relate to specific capital expenditure are treated as deferred income, which is then credited to the profit and loss account over the related asset's useful life. Revenue grants are credited to the profit and loss account in the same Feriod as the related expenditure is incurred, 2. Grants Received Grants Recelved Unrestricted Restricted 2024 2024 Total 2024 Total 2023 Community Revenue Grant- MUDC 2,625 2,625 2,625 2,625 5,000 5,000 3. Charitable Donations Unrestricted Restricted 2024 2024 Total 2024 Total 2023 Donations 850 850 850 850 4. Charitable Activities Unrestricted Restricted 2024 2024 Total 2024 Total 2023 Christmas Festive Costs 650 650 650 650 1,572 1,572 5. Administration Costs Unrestricted Restricted 2024 2024 Total 2024 Total 2023 Salaries and Wages CRP Grant Repaid Accountancy Advertising Telephone and Postage ststionery and Advertising Equipment Cleaning Computer Equipment General Expenses 11,514 11,514 7,636 828 940 687 974 40 965 965 941 103 941 103 1,280 1,280 274 166 700 14,453 166 700 15,733 638 12,017 1,280
Caledon Regeneration Partnership Limited 12 6. Establishment Costs Unrestricted Restricted 2024 2024 Total 2024 Total 2023 Insurance Water Rates Heat and Light Repairs 3,925 650 8,288 1,765 14,628 3,925 650 8,288 1,765 14,628 3,216 367 7,095 2,756 13,434 7. Other Costs Unrestricted Restricted 2024 2024 Total 2024 Total 2023 Bank Charges DepreciationlAmortisation 687 687 (267) 420 3,058 1591} 2,467 (2671 (267> 687 8. Tangible fixed assets Freehold Property Caledon Beam Engine The Wool Store Total Cost At1 March 2023 Additions Disposals At 29 February 2024 523,267 216,531 653,817 16,177 1,393,615 16,177 523,267 216,531 669,994 1,409,792 Depreciation At 1 March 2023 Charge Disposals At 29 February 2024 187,186 10,465 42,696 4,331 24,407 13,400 254,289 28,196 197,651 47,027 37,807 282,485 Net Book Value At 29 February 2024 325,616 169,504 632,187 1,127,307 At 28 February 2023 336,081 173,835 629,410 1,139,326
Caledon Regeneration Partnership Limited q3 9. Debtors and Prepayments 2024 2023 Trade Debtors Capital Grant Debtor 1,824 7,500 7,500 1,824 10. Creditors: amounts falling due within one year 2024 2023 Accruals VAT 3,550 1,462 5,012 12,645 201 12,846 11. Deferred income 2024 2023 Capltsl Grants At1 March 2023 Received and Receivable Amortisation in the year At 29 February 2024 1,137,358 1,071,779 94,042 (28,463) 1,137,358 (28,463) 1,108,895 12. Taxation 2024 2023 United Kingdom corpoiation tax @190 Current 13. Movement in Funds Atthe Movement Transfers 0110312023 In Funds Inl(out) Transfers At the In Funds 2910212024 Unrestrfcted Funds General Fund (2,272) {545) (2,329) Restrictsd Funds ResttiGted Funds 3,373 112 545 4030 Total Funds 1,101 600 1,701
Caledon Regeneration Partnership Limited 14 1& Net Movement in Funds, included in the above are follows: Resources Expended in Funds Unrestricted Funds General Fund 3D,256 (29,768) 488 Restricted Funds Restricted 2,625 (2,513) 112 Totsl Funds 32,881 (32,281) 600 15. Employee Information 2024 Number 2023 Number Employee Numbers 2024 2023 Staff costs (for the above persons): Wages and salaries Social Security 11,514 7,636 11,514 7,636 16. Trustees, Remuneration and Benefits No trustee received any remuneration during the year ended 29 February 2024 (2023 -Nill. No Trustee reGeived any reimbursernent for approved expenses incurred in connection wilh the charity.