Company Number:N1060479 Glen Development InItIAve (A company limited by guaraiitee) Directors, report alld fmancial statements for the year ended 31 March 2023
Glen Development Initiative (A Company limited by guarantee) Contents Page Inforniation Dire¢tols Report Independent examiners, report Statement of Financial Activities Balance slieet Notes to the accounts 8-12
Glen Developnient Initiattve (A compa])y limited by guarantee) Information Direetors Alex Patrick Doherty D¢TrnOt O'Hard Maeve McLaugblin Sinead McGlinchey Sebrina Wright Maurice Joseph Bowe Pat Joan McAnaThey Naomi Wright Michael John Cooper Sinead Elizabeth Murphy Secretary Alex Patrick Doherty Company No: N1060479 Cliarity No: NIC101280 XR97898 Registered oifice Glenview Community Cenire Cedar Street Dc BT48 OEG Accouiitaiits McGroarty Mccafferty & Company Ltd Accountants & Tax Consultants 2 Carlisle Terrace D¢rry B T48 6JX Bankers Ulster Bank North West Busiiiess Centre Culmore Road De BT48 8JB Page I
Glen Development Enitiative (A cojnpany limited by guarantee) Director's Report The directors present their report and the financial statements for the year ended 31 March 2023. Objectives and activities The company is established to relieve sickness, help the aged and to promote the benefit of the inhabitants of the Gleii and ciiy area of Co Deny and its environs by associating together the statutory autliorities, voliintary organisations and inhabitants in a common effort lo enhance education and to pii)vid¢ facilitics in the intei'e5t of social welfare, for creation or other leisure time occupations with the object of improving the conditions of life for the said inhabitants. Directors and their interests The directors of the charity for the purposes of charity law and throughout this report are collectively referred to as the directors. The directoi's serving during the year and since the year end were as follows: Alex Patrick Doherty Dennol O'Hara Maeve M¢Laiighlin Sinead McGlinchey Sebrin2 Wright Maurice Joseph Bowe Pat Joan McAiianey Naomi Wright Michael John Cooper Sin¢ad Blizil beth Murphy Governing Documwit The organisation is a ¢ompaThy with charitable status. The enlity was formed on 19tli August 2002 aijd incorporated on l J All78t 2006. The company was cstablished under Memorandum & Articles of Association which oiitlined the area of benefjt and the objects of the cl)arilable org&nis&tion. Risk Maiiagement The directOTS have a risk management strategy which consists of establishing & system of identifying risks ai)Il mitigating sucli rlsks. Results & Perfonnance The resiilts and perfonnance for the year of Glen Development Initiative are sumMlsed in tlie enclosed accounts. Financial review The fJnan¢ial perfonnance is summarised in the enclosed accounts. Glen Development Initiative Page 2
(A coinpany limited by guarantee) Directors Report ..continucd Directors Responsibilities In Relation To The Financial Statemenls The DiiEclors of Glen Development Tnitiative for the purposes of company law are respo)]sible for piEparing the Directors, Annual report and the fjnancial statements in accordance with applicable law and United Kingdom Accounting Standards ( United Kingdom GeneIally Accepted Accounting Practice), Cumpany law requires the directors to prepa financial statements for each financiaj year that give a true and fair view of the state of the affairs of the ch<)rity at Ibe end of the fmanciaR year and of its sUlUS or deficit for the financial year. In doing so the directors are required to: select sultablc accounting policies atAd apply them consistentty: - observe methods and principles io the Charities SORP (FRS102); - make judgeJr¢nts and estimates tliat are reasonable and prndent; state whcther applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in tlie financial statements: PTcpare Ilie fjnancial slatements on tlie going concern basis unless it is inappropriate to piEsume t]iat tjie cliarity will coiitiiiuc in busiiiess. The directois are responsible for mainlaining proper accounting iexords which disclose with ieasonable accuracy at any time the financial position of the charity and enables them to ensure that die fmancial stateinents comply with the Companies Act 2006. The directors are also responsible for safeguarding the assets of the cliarity and hence for taking reasonable steps for the pr¢vention and detection of fraud and other in'egularities. Iii so far as the directors are awar¢: there is no relevant infomiation of which the CoMpanS independent examiner is unaware, and the directors have taken all the steps that th¢y oiight to have lak¢n io Inake themselves aware ol any relevant audit infoimation aiid io establish (hat the independent examiner is aware of that tnfoi'mation. A rcsolutson will bc proposed at the Annuaj General Meeting that McGroarty Mc Cafferty & Company Ltd be re-appointed as accountants for the charity for the ensuing year. Tliis repoit is prepared in accordance with the special provisions of part l5 of the Companies Act 2006 iel&ting to sinall ColpanIeS. This i'epoit was approved and authorised for issue by the Board on 5 December 2023 )d signed on its behalf by Director irector Page 3
Glen Development Initiative (A eompany limited by guarantee) Independent Examiner's report to the charity committee members of Glen Development Infitiative We report on thc accounts of the charity for th¢ year ended 31 March 2023 , which are set out on pages 5 - 12 Respective responsibilities of charity commlttee members and examiner As the Ch]$ members you are responsible for tlie PrepatiOn of tho accounts irl c1¢cordance wAth the Cl)arities Act (Northern ]land) 2008. It is our responsibility to: - examine the accounts under Section 65 of the Charities Act; follow tl)e procedures laid down in the generaj Directions given by the Coniirjission under Section 65(9) (b) of the Charities Act: - state wliether particular matters have come to our attention. Basls of Independent examiner's report We have examined yoiw charity accoiints as required under Section 65 of the Charities Act ai)d our examination was catried out in accordance with the general Directions given by thc Charity Commission for Northern Ireland under Section 65 (9)(b) of the Charities Act. Our examination included a review of the accounting records kept by tlie charity and a comparison of the accoiints pi'esented will) those records. Il also included coiisxderations of any iinusual items or disclosiires in the accounts, and seeking explanation from you as charity members concerning any such matters. OIIT role is to state whether any material matters hav¢ ¢ome to our att¢nlioTh giving us cause to believe.. l. Tliat accounting records were not kcpt in accordancc with Section 63 of the Charities Act. 2. That the accounts do not accord with those accounting recor(ts. 3. Tl)at the accounts do not comply with the accoiiDling reqiiirements of thc Charities Act. 4. Tliat there is fLirther infonnation needed for a prop¢r understai)dii)g of the accounts (o be iEached. Indepei)dent Examiner's Statement As tlie cli<irity'S gross incomc ex¢e¢ded £250.000 the exan]iner must be a member of a lislcd body. We Ccill confjrm that we are qiialifjed to undertake the examinatson as we are a registered niernber of Chartered Accoiintants Ireland which is one of the listed bodies. We have completed our examination and have no concerns in Tespect of the matters 1- 4 listed above and, In connection widi the following Direclions of the Charity Commission Northcrn ItelaThd; we hLlve tound no mallers that require drawing to your attention. McGroarty ecaff rty & Compa Accountants and Tax Consultants 2 Carlisle Terrace Derry N Ireltmd B T48 6JX Date: 5 December 2023 yLld Page 4
Glen Development Initiative (A company limited by guarantee) Statement of Financial Activities for the year ended 31 March 2023 Unrestricted Funds RtrIcted Fllnds 2023 Z022 Income and Expenditure Incoming Resources Grants & Sundry Incom Total Inconiing Resources 66,475 304,418 370,893 331,881 66,475 304,418 370,893 331,881 Resources Expended Manageinent & Administration 48,486 304,418 352,904 338,778 Total Resources Expended 48,486 304,418 352,904 338,778 Net Inconiing l (Outgoing) Resources 17,989 17,989 (6,897) Balances brought forward l April 2022 10,494 J 0,494 J7,391 28,483 28,483 10,494 Balances Cried forward 31 m[Ch 2023 28,483 28,483 10,494 The above amuunls Irlale to continuing operations of the company. Tjie conipaiiy has no iEcogi)ised gains alld losses other than those included in die iEsults above and tlierefoiE i)0 separate slateniei)t of tolal recognised gains and losses has been presented. There is no difference between the net incoming resources for the year stated above and their historical cost equivalents. Page 5
Glen Development Initiative (A company limited by guarantee) Balance sheet as at 31 March 2023 2023 2022 Notes Current assets Debtors Cash at bank and in hand 41,180 4,894 24,300 9,691 46,074 33,991 Ciirrent liabilities Other creditors Accrua]s 15,408 2,J83 13.221 10,276 10 17,591 23,497 Net ciirrent assets 28,483 10,494 Totol assets less current liabilities 28,483 10,494 Reserves Brought foi'ward at l April 2022 unStriCted 28,483 10.494 11 28,483 JO,494 Page 6
Glen Development Initiative (A company limited by guarantee) Balance sheet (Continued) Directors, ststements required by Seetions 475(2) and (3) for tbe year ended 31 March 2023 lii approving these financial statements &8 directors of tbe company we hereby confjrni: The company was entit]ed to exemptioD from audit under $477 of the Companies Act 21J06 1"elating to small compankes. The members have not required the company to obtain an audit in accordanc¢ with section 476 of the Cornpaiiics Act 2006. The diTectors acknowledge 11)eir responsibilities for complying with the requireniei)ts of the Companies Act 2006 with respect to accounting records and preparation of accounts. Theso accounts have been prepared in accordanc6 with the ptovisions appticable to small companies subject to the smalj cornpanies r¢gime and in accordance with FRSI 02 SORP. Tlie accoiints liave been approved and authorised for issue by the board on 5 December 2023. Dlrector Director Registration No: N1060479 Page 7
Glen Development Initiative (A company limited by guarantee) Noteg to the accounts for the year ended 31 Mah 2023 Gelleral informatlon The company is a private company limited by guarantee, registered in Northern Jreland. Tl)e address ol the registered office is Glenview Community Centre. Cedar Street, Delly, BT48 OEG. 1.1. Statement of compliance The finaiicial statements have been pttpared in accordance with Accounting and Reporting by Cliarities: Statement of Recommended Practice applicable to charities preparing theii accounts in accordance with the Fiiiancial Reporting Standard app]icable in the UK and Republic of Ireland Charities SORP (FRS 102), Companies Act 2006 and Charities Act (Northem Ireland) 2008. Income (i) Grants Grants represents all amounts received and receivable during the year. Capital grants are released to the profit and loss account in the year in which they are received in liiie with the SORP Accounting & Reporting by Charties. Rcv¢nu¢ grants arc cdit¢d lo the Statement of Financial Activities in the year they are received. (ii) Donations & admiDistration income. This comprise5 amounts received during the year. Expenditure (i) Direct Charitable Expenditure This represents a]1 expenditUTe directly attribvtablc to charitable c&uses. (li) ManagemcTht & AdniiThistralion This includes all other expenditiire not directly allocated above and a portion of the overhead costs attributable to management and administration. Page 8
Glen Development Initiative (A company limited by guarantee) Notos to the accounts for the year ended 31 March 2023 Income 2023 2022 Restricted Iiicome Departsnent for Conununiti¢s Derry City & Strabane Couiicil Awards for all Education Authority PHA Community Foundation NI HalifLIX NI Hoiising Executive Live Here Love Here 99,494 37,487 97,529 28,910 6,728 94,135 5,616 1,330 2,349 5,590 990 1,590 82,696 5,347 J,650 2,974 NH BIG Lottery Fiind Skills 2020 1,885 17,862 55.023 53,609 304,4] 8 298,376 Uiireslricted Iiicome Party People Other incojnc Ui)r¢stricted 1,500 32,005 66,475 66,475 33,505 Total Income 370,893 331,881 (i) Rcstricted Funds Funds received wliich ai? etmarked by the Funder for specific puiTroses. Sucli piuyoses withiii the overall aims of the organlsation. (11) Unrestricted Funds Funds which are expcndable at the discretiors of thc company iii furtherdnce of the aims of Ili¢ chwity. In addition fiinds may be held lll order to fanCe capital investrnenl aThd working capital. Page 9
Glen Development Initiative (A company limited by guarantee) Notes to the aceounts for the year ended 31 March 2023 Resources Expended Unrestricted Funds Restricted Funds Total 2023 Total 2022 Management & Admlnlstration Wages & sajarics Staff peiisioii costs DCSDC expenses DFC - Expenses Ha]ifax expenses Awards tor All Expenses Community Foiindation expenses Progi'amme eXpeleS Lottery fund NHIP Exp¢iises EA Expenses NI Housing Executive Expenses PHA expenses Paty People expenses Motor Riinniiig Riinning expenses Priiiting,postage & st1< tionery Repairs & maintcnance Software costs Sundry expenses Light and heat Accountancy Insurance Baiik Charges 19,257 190,622 9,360 35,490 8,706 2,JOO 85 209,879 9,360 35,490 8,706 2,100 85 J80,920 8.893 25,650 7,100 2.100 6,713 1,330 21.151 21.453 21,453 17,474 ,619 30,227 2.176 5,347 86 1.091 2,028 16 2,121 245 17,474 J,6J9 30.227 2,176 5,347 1,540 64,984 3.450 5.630 2,842 86 1,091 2,028 16 2,J21 245 1.351 362 190 245 957 765 763 660 1212 1,977 763 660 J,596 1,081 693 48,486 304,418 352,904 338.778 Taxntion No cliarge to laxation is due as the company has charitable status. Page 10
Glen Development Initiative (A company limited by guarantee) Notes to the aeeounts for the year ended 31 Marckn 2023 Staff note The average number of persons employed by the company duiing the year amounted to 12 (2022: 10) The aggregate payroll costs incurred during the were: 2023 2022 Wages and sal(]eS Pe110n contributions 209,879 180,920 9.360 8.893 219,239 189.813 C2pltal Grants In liiie with SORP the capital grant reserve ll) tlie accounts has bcen tuken Straight to incoming resources in the statement of financial activities. Debtors 2023 2022 Grants due Other debtors 26,190 14,990 21,111 3,189 41,380 24,300 10. Current liabilities 2023 2022 Taxes and social seciirity costs DefeiTed incoine Accrua]s 3.111 10.110 10,276 15,408 2,]83 17,591 23,497 Page 11
Glen Development Initiative (A company limited by guarantee) Notes to the accounts for the year ended 31 March 2023 ii. Movcments in Funds At At l April Incoming Outgoing 31 March 2022 resources resourtes 2023 Restricted funds: Total reslricled ndS 304,418 (304,418) Unrestricted funds: Total unrestricted funds 10,494 66.475 (48,486) 28,483 10.494 370.893 {352,904) 28,483 Purposes of Restrieted Funds Restricted grants awarded to the charity is provided to cover the core objects a5 explained in directors reporL 12. Related Party Transactions There were no related patty transactions in the year under revlew. 13. LimAted by Guarantee The company is limited by giiarantee and does not have a sharc capital. 14. Post Balanee Sheet events No significant evenls have taken place since the year end that would result in adjiisljnents to 2023 financial iiifonnation or incliision of a note thereto. Page 12