DROMBOUGHIL COMMUNITY ASSOCIATION STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2022 Unrestricted Funds 2022 Dèsignated Funds 2022 Restrictsd Funds 2022 Total Fund8 2022 Total Fund5 2021 Notos Income and Endowments from Donations and legaci65 Income from charitable activltieg Oth8r Iradlng aclivilies 136 26,500 28,636 7,954 4,449 15,550 4.926 2.064 7,954 4,449 Total Income 12,539 26.500 39,039 22.540 Expenditure on charitable actlvitl8S 12,442 5,886 17,089 35,417 32,478 Net incornellexpenditurel 97 {5,886) 9,411 3,622 19,938) Transfèrs betwèen funds Net movement in funds for year 97 15,8861 9,411 3,622 (9,938) Reeonclllatlon of funds: Total funds brought forward 21,805 243,338 6,164 271,307 281,245 Total fund carrled forward 21,902 237,452 15,575 274,929 271,307 Under charity accountlng all transactions are reflected within the Statement of Flnancial Activities and. as such. no separate slalement of total rgcognlsed gains and loss6s would be required. I the aclivitles of the charity are classified as ongoing. The notes on pages 10-16 form part of these financial ststements and should be read in conlunction therewith.
DROMBOUGHIL COMMUNITY ASSOCIATION BALANCE SHEET AS AT 31 DECEMBER 2022 2022 2021 Notes Flxed a6sets Tangible assets 237,729 243.784 Current a85ets Stocks Debtors & prepayments Cash at bank and in hand 10 11 7,269 1,065 29,829 8.458 2,450 17.729 38,163 28,637 Credltors: amounts falllng duo wlthln onè year 12 1114 Net current assets 37,200 31.490 Total assets I current Ilabllltle8 13 274,929 271,307 Funds of the charity Unrestricted designated funds Unreslricted income funds 14 237.452 21.902 259.354 15.575 243,338 21,805 265,143 Total unrestricted funds Restrictèd funds 274,929 271307 Thè company is entFtled to the exèmption from the audit requirement contained in section 477 of Companies Act 2006, for the year ended 31 December 2022. No member of the company has deposited a notice, pursuant to section 476 of the Companies Act 20CE, requiring an audit of these accounts. The trustees acknowledge their responsibilities for ensuring that the charity keeps accounting records which comply with section 386 of the Act and for preparing financial statements which give a true and fair view of the slate of affairs of ihe company as at Ihe end of th6 financial year and of Trts incoming resources and application of resources, including its income and expenditure, for the financial year in accordance with the requirements of sections 394 and 395 and whith otherwise comply with the requirements of the Companies Act 20[ relating to financial statements, so far as applicablè to the company. These financial statements have been prepared In a¢Gordance with the provisions applir2ble lo Companies subject to the small companies, regime. The notes on pages 10-16 fomi part of these financial statements and should be read in conjunction therewith. The accounts were approved by the Board of Trustees on 19th June 2023 and signed on behalf of the Trus es by.. John Jam P'Kan (Chair) Alfred David Canning (Secretary) Charfty Commission No. NIC101270 Company Registratlon No. N1047312
DROMBOUGHIL COMMUNITY ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 Aecountlng policles Charlty infomiatlon Dromboughil Community Association is a private company limited by guarantee incorporated in Northem Ireland. The registered address is 36 Magheramore Road, Dungiven. Co Londonderry BT47 4SW. A¢¢ounllng convenllon The financial statements have been prepared in acrdanCe wlth the charity's goveming document. the Companles Act 2006 and 'Accounting and Reporting by Charities.. Slalement 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 1021" (as amended for accounting periods commencing from 1 January 2016). The charity is a Public Benefit Entity as defined by FRS 102. The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows. The financi81 statements are prepared In sterflng, whlch is the functional currency of thè charity. Monetary amounts in these financial statements are rounded to the near08t £. The financlal statements have been prepared under the historlcal c051 convention. The principal accounting pollcSes adopted are sel out below. Golng Conrn The Iruslees havé prepared these financial statements on the golng Concern ba5Is. As wlth all charitablo organisations. the Impact of Covid-19 has been significant, and h8s resulted in reduced revenues. The trustees are satisfied Ihat the charity has the néc8ssary r8sourc8s in tams of incomings lo meet plans and operational expenditure until al least 31 December 2023. The trustees will continue to submit applications lo its funders for financial assistance beyond 31 December 2023 and hope Ihal this 8SSiStance will be forthcomlng together with a return to histOriC81 operating levels in regard to the provislon of classes, programmes and calering. The trustees, however, are not in a position lo assess the avai18ble financial resources necessary for the operatlon of the charSty beyond the end of its flnancial year to 31 December 2023. Fund accountlng Unrestricted funds are general funds which are available for use at the discretion of the trustees in furtheranc8 of the general objèctives of the charity. D8signat&d funds are unrestrictsd funds of the charity which the Trustees have decided at their discretion lo set aslde for use for a speciflc purpose. Restricted funds are subjected to restrictions on thelr expenditure Imposed by the donor. The purposes and uses of the restricted funds are set out In the notss to the financial stalements. Incomlng resources Income is recognised in the statement of financial activities when the charity has entitlement to the funds. any perfomiance conditions attached to the item(sl of income have been met, it is probablè that the income will be received, and the amount can be quantified with reasonable accuracy. The following sptscrfic policies ar8 applied to particular categories of income. -voluntary income is received by way of grants and donations and is included in full in the Statement of Financial Activities when receivable. Grants, where entitlement is not conditional on the delivery of a specific perfomiance by the charity. are recognis8d when the charity becomes unconditionally entitled to the grant. -Incoming resources from grants, where related to performance and specific deliverables, are accounted for as the charity earns the right lo consideration by its perfomiance. io
DROMBOUGHIL COMMUNITY ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 -Donated services and facillties are fecognisfrd as income when the charity has control over the item, any conditions associated wth the donated item have been rnet. the receipt of economic benefit from the use by the charity of the item is probable and that economic benefit can be measured reliably. The value of services provided by volunteers has not been Induded in these financial statsments. but their conlribution has been referred to in the trustees, annual reporL 1.5 Resources expended Expenditure is recognised once there Is 8 legal or constructive obligatlon to make a payment to a third paty, it is probable that sethemenl will be rèquired, and the amount of th8 obllgallon can b8 measured reliably. 1.6 Capltal grants Capital grants ar8 included as incoming r6sources when receivable and c8tegori8ed within designated funds. Depreciation is subsequenrfy charged against the fund each year equivalent to the Tates on the relevant ass6t. 1.7 Stock Stock is included at the lower of cost or net realisable vaSue. Donated ilems are recognis8d at fair value whlch is thè amount tha charity would hav8 beèn willing to pay for the itsms on the opèn market. 1.8 Debtors Trade and other debtors are recognised at the s8ttlernent amount due after any discounl offered. 1.9 Cash and cash equlvalents Cash and cash equivalents indude cash and short lerm highly liquld investments wlth 8 short maturity of three months or less from the date of acquisition or opening of the doposit or similar account. 1.10 Crodltors and provlsions Creditors and provisions are recognised wherè the charity has a present obligalion resulting from a past ev8nt that will probably result in the transfer of funds to a third party and the amount due lo settle the obligation c8n be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amounl after allowing any trade discounts due. 1.11 Flnanclal Instrumonts The charity has no financial inslruments oth8r than the basic financial instruments. 1.12 Tanglble flx•d ag88ts and depre¢iatlon Tangible fixed assets other than freehold land are stated al cost less deprèciation. Freehold land 1$ ststed at cost. Depreciation is provided al rates calculated to writs off the cost less asllmated residual value of 8ach asset over its estimated useful life, as follows.. Buildlngs Equipment Bnd fumlturè 1.13 Impalrmant of flxod assets At e8ch reporting date, the InJste6s review the carrying amounts of fts langible assets lo delemine whethèr there is any indication that thos6 assets have suffered an impainnent loss. If any such indication exists, the r8coverable amount of the asset is estimated in order lo delermlne the extent of the irnpairnent loss, if any. 1.14 Critical accounting estirnatss and Judgement8 In the apiCatiOn of the charity's accounb'ng policies, the Iwstees are required to mako jvdgernents, 6stimales and assumptions about the carrying amounts of assets 8nd liabilities th8t are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered lo be relevant. Actual results may differ from these estimates. 20/0 slralght line 200/0 slraighl line The estimatos and undertying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future peri¢5 where the revision affects both current and future periods. 1.15 Taxation The company is a charity ond is recognised as such by HM Revenue and Customs under the charity tax reference XR80127. As a result, there is no liability to taxation on any of its income. li
DROMBOUGHIL COMMUNrrY ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 2 Income from donations Unrn8tricted D¢slgnatod Restrlctod Funds Funds Funds 2022 2022 2022 Total Funds 2022 Total Funds 2021 Donatlons and legacles Donations 136 136 830 Grants Sir Georg8 Earle Benevolent Fund John Moores Foundation Causeway Coast and Glens Halifax Foundation Nationwide Community Awards For All 3.000 5.000 2.000 2,500 4.000 5.000 10.,000 5,000 2,500 4,000 5,000 10,000 5,000 The Older Peoples, Fund HMRC.. Job Retention Scheme 4.720 136 26,500 26.636 15.550 Thè income from donations and legacies in 2021 induded £10,000 from raslricted funds and £5,550 from unrestrict8d funds. 3 Incom8 from ¢harltablg actlvltles Unre8trl¢ted Deslgnatsd Funds Fund8 2022 2022 Restrl¢ted Fund8 2022 Totsl Funds 2022 Total Funds 2021 Fundraising Ag8d to P8rfection group Class88 79Q 1,898 5,266 790 1,898 5,266 1,359 823 2,944 7,954 7,954 4,926 The income generated from chadtabl8 activities was all unrestricted in 2021. 4 Incom• from oth•r tradlng a¢tlvlUo8 Unrostrl¢ted Deslgnatod Fund8 Funds 2022 2022 Restrlcted Funds 2022 Total Funds 2022 Total Funds 2021 Variety Cr8fts Catering and hire of hall Sundry 3,292 775 382 3,292 775 382 1,520 195 349 4,449 4,449 2,064 The income generated from other trading activities was all unrestricted in 2021. 12
DROMBOUGHIL COMMUNITY ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 5 Costs dlrectly attrilxrtable to charitablo a¢tlvitles Unr08tricted Designated Rostrictsd Funds Funds Funds 2022 2022 2022 Total Funds 2022 Total Funds 2021 Varioty Craft expenses Aged to Perfection expenses Classes.. tutotB and materrals Fundraislng expenses Bank charges Insurance Accountancy fees Sundry oxpgnses Depreciation Support costs (note 6) 2,168 816 25 2,193 2,537 5,237 160 754 1,721 4,730 964 6,225 500 507 160 120 120 125 1.246 265 227 169 1,246 1,340 540 375 227 215 6.296 15,519 5,886 6.055 17,002 6,764 10.238 12,442 5,886 17,089 35,417 32,478 Expendllure on charfiable acllvilies In 2021 Indud8d restrlcted £8,877 deslgnated £5,886 and unrestrlcled £17,715. 6 Support Costs 2022 2021 Staff costs Inol6 7} Trainlng R&pairs and malnlenance Watsr ral8S Light and heat Telephone Postage, stationery and advertising Computer expenses 11,135 420 892 107 2,323 1,150 425 12,325 486 78 833 1,222 215 550 360 17,002 15,519 13
DROMBOUGHIL COMMUNITY ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 Stsff costs 2022 2021 Salarie8 and wages Social security costs Pension costs 11.135 12,325 11.135 12.325 The average number of employees dunno the year on a full tim8 8quivalent basis was: 2022 2021 Administration and support Th8r8 wore no employ88s whose emoluments for th8 yèar were above £60,000. Trusto08' romun•ratlon and rolated party transactlons None of the trustees receivad any remuneration or benefit dursng the year. There wer8 no related party transactions during the year. Tanglble flx•d assets Land and bulldlngs Equlpmentl Furnlture Total Cost Al 1 January 2022 Addltiong 314,664 15,120 329,784 At 31 December 2022 314,664 15,120 329,784 Depreclation At 1 January 2022 71.326 14,674 86,000 Charge for thè year 5,886 169 6,055 Al 31 Dec8mber 2022 77,212 14,843 92,055 Net book value At 31 December 2022 237.452 277 237,729 At 31 Decembèr 2021 243 338 446 243 784 14
DROMBOUGHIL COMMUNITY ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 10 Stocks 2022 2021 Craft items and textiles 7,269 8,458 11 Debtors & propayments 2022 2021 Grants Pr6P8yments Hlre of hall 625 2,000 400 50 400 40 1,065 2.450 12 Credltor8 falllng du• wlthln one year 2022 2021 Credltors and ac¢ruals 963 963 1.114 13 Analysls of net assets betwaen funds Unro8trlctgd Dgs1gnat•d Fund$ A850t Funds Rgstrlcted Funds Total Funds Tanglble fixed assets Currant essets Curr8nt liablllties 277 22,588 19631 237,452 237,729 38,163 (9631 15,575 21,902 217,452 15,575 274,929 14 Movement In fund8 At1Jan 2022 Incomlng re$ourc88 Outgolnq rn8our¢os Tran•fer8 At 31 Dec 2022 Unrestrlcted fvnds Designated funds Restrlcted funds 21,805 243,338 6,164 12.539 {12.4421 15,8861 117,089) 21,902 237,452 15,575 26,500 271,307 39,039 135,4171 274,929 15
DROMBOUGHIL COMMUNITY ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 15 General fund The Yree reserves. after allowina for all desiqnated funds. Deslgnated property assets fund Purposes of designated fttnds 1) The Management Committee has designated a fund which reflects the net book value of bulldings on which grdnts have b8en received. R8$trf¢tod funds Thls represents grants r&celved and receivable for specific purposes which have not been expended at y88r end. 16 Contlngent Ilabllltle8 Cortain grants received and recèivable may become repayable to the funder if thè charity is no longer able to meet the condilions undèr which they were awarded. Due lo the nature of these conlingenciesll may not be possible to quantify the potential financlal effect or give an indication of the timlng as to the Ilabilities that may arise. 17 Financlallcapltal commllments Th8 company had not enl8red into any financial or capital commitments at year 8nd. 18 Legal status of the Charlty The Charity is a company limited by guarantee and has no Share capltal. The liability of each member In th8 event of a wlnding-up 18 limited to £1. 16