Company Number:N1060479 Gl¢n Development Initiative (A company limlted by guarantee) Directors, report and finan¢lal statements for the year endod 31 March 2024
Glen Development Initiative (A company limited by guarantee) Contents Page Inforniatioii Directorfs Report Indepeiident examiners, report Statement of Financial Activities Balaiice sli¢et Not¢s to th¢ accounts 8-12
Glen Development Initiative (A company limited by guarantee) Information Directors Al¢x Patrick Dohety Dennot O'Hara Maeve M¢Laughlin Sinead McQlinchey Sebrina Wright Maurice Joseph Bowe Pat Joan McAnaney Naomi Wright Micliael Jolin Cooper Sinead Elizabeth Murphy Anna Dalton Gerry Hamilton Caroline M¢Guinness Brooks Ciaran Quinn (Resigned L9.08.24) (Resigned 19.08.24) (Appointed 19.08.24) (Appointed 19.08.24) (Appointed 19.08.24) (Appointed 19.08.24) Secretury Alex Patrick Doherty (Resigned 19.08.24) Company No: N1060479 Charity Iyo: NIC101280 XR97898 Rcgistored offIce Gl¢nview Community Centre Cedar Street Derry BT48 OEG Aceountunts M¢Groarty Mccafferty & Company Ltd Accountants & T. Consultants 2 Carlisle Terrace Derry BT48 6JX Bankers Ulster Bank North West Business Centre Culmore Road Deny BT48 8JB Page I
Glen Development Initiative (A company limited by guarantee) Director's Report The directors piesent their report and the financial statements for the year ended 31 March 2024. Objectlves and actRvRtRes Tlie coillpany is establish¢d to relieve sickness, help the aged and to promote the benefit of the inhabitants of tlie Glen and city area of Co D¢rry and its environs by associating together the statutory authorities, voluntary organisaiions and inliabitants in a common effort to enhance education and to provide facilities in the interest of social welfare, for creation or other leisure time occupations with the object of improving tlie conditions of life for the said inhabitants. Directors and their Interests Tlie directors of the cliarity for the purposes of charity law and throughout this report are collectively referred to as the directors. The directors serving during the year and since the year end were as follows: Alex Patrick Doherty Dermot O'Hara Maeve McLuughlin Sinead McGlinchey Sebrina Wright Maurice Joseph Bowe Pat Joan McAnaney Naomi Wright Michael John Cooper Siiiead Elizabeth Murpliy Caroline McGuinn¢ss Brooks (Appoint¢d 19.08.24) (Resigned 19.08.24) Anna Dalton (Appointed 19.08.24) Gery l.lamilton (Appointed 19.08.24) Ciaran Quinn (Appoint¢d 19.08.24) (Resigned 19.08.24) Govcrnlng Do¢um¢nt The organisation is a company ivitli charitable status. The entity was formed on 19th August 2002 and incorporated on I l August 2006. Tlie coinpany was established under Memorandum & Articles of Association whicli outlined the area of benefit and the objects of the charitable organisation. Rlsk Management Tlie directors have a risk management strategy which consists of establishing a system of identifying risks and Initigating such risks. Results & Performance The results and perfomance for the year of Glen Development Initiative are summarised in tlie enclosed accounts. Flnancllll revlew The financial perfomiance is summarised in the enclosed a¢counts. Page 2
Glen Development Initiative (A company limited by guarantee) Directors Report .continued Directors Responsibilities In Relation To The Financial Statements The Directors of Glen Development Initiative for the purposes of company law are responsible for preparing the Directors, Annual report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards ( United Kingdom Generally Accepted Accounting Practice). Coinpany law requires the directors to prepare financial statements for each financial year that give a true and fair vicw of the stale of tlie affairs of the charity at the end of the financial year and of its surplus or deficit for tlie financial year. In doing 50 the directors are required to: select suitable accounting policies and apply them consistently> observe methods and principles in the Charities SORP (FRS102); make judgements and estimates that are reasonable and prudent; state wliether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in tlie financial statements; prepare tlie financial statements on the going concern basis unless it is inappropriate to presume tliat the cliarity will continue In business. Tlie directors are responsible for maintaining proper accounting records wliicli disclose witli reasonable accuracy at any time tlie financial position of the charity and enables iliem to ensure tliat the financial stateinents comply with the Companies Act 2006. The directors are also responsible for safeguarding tlie assets of the cliarity and hence for taking reasonable steps for the prevention and detection of fraud and other irregiilaritics. In so far as tlie direclors are aware: tl)ere is no relevant infom]ation of whi¢h the company's independent examiner is unaware, and tli¢ dir¢¢tors liavc taken all the st¢ps that they ought to have takeii to mak¢ themselves aware of any relevant audit information and to establish that the independent examiner is aware of that inforn]ation. A resolution will be proposed at the Annual General Meeting that McGroarty Mc Cafferty & Company Ltd be re-appointed as a¢¢ountants for the charity for tlie ensuing year. Tliis report is prepared in accordance with the special provisions of part 15 of the Companies Act 2006 relating to small companies. This report was approved and authorised for issue by the Board on 8 October 2024 and signed on its belialf Director Director Page 3
Glen Development Initiative (A company limited by guarantee) Independent Examiner's Report to the charity committee n)embers of Glen Dev¢lopn)ent Initiative We report on the accounts of the charity for the year ended 31 March 2024 , which are set out on pages 5 - 12. Respectlve responsibilities of charity commltteo mombers and examiner A5 the charity's meinbers you are responsible for the preparation of the accounts in accordance with the Charities Act (Nortliem Ireland) 2008. It is our responsibility to: examine the accounts under Section 65 of the Chariti¢5 Act; follow the procedures laid down in thc general Directions given by the Commission under Section 65(9) (b) of the Charities Act. state wliether particular matters liave come to our attention. Basis of Indepcndont Exaniiner's Report We have examined your charity accounts as required under Section 65 of the Charities Aet and our examination was carried out in accordance with the general Directions given by th¢ Charity Commission for Northern Ireland under Section 65 (9)(b) of the Charities Act. Our examination includcd a review of the accounting records kept by the charity and a comparison of thc accounts presented with those records. It also included considerations of any unusual items or disclosures in thc accounts, and seeking explanation from you as cliarity members conceming any sucli matters. Our role is to slate whether any material matters have come to our attention giving us cause to b¢li¢ve: l. That accounting records were not kept in accordance with Section 63 of tlie Charities Act. 2. That the accounts do not accord witli those ac¢ouiiting records. 3. Tliat the accouiils do not comply with the accounting requirements of the Charities Act. 4. Tliat there is furtlier infonnation needed for a proper uiiderstanding of the accounts to be reached. Indcpendont Examiner's Statement As ilie cliarity's gTross incoine exceeded £250,000 the examiner must be a member of a listed body. We can confirni tlial we are qualified to undertake tlie examination as we are a registered member of Cliartered Accountants Irelaiid wliich is one of tlie listed bodies. We have completed our examination and have no concerns in respect of the matters l 4 listed above and, in connection witli the following Directions of the Charity Commission Northern Ireland. we have found no matters that require drawing to your attention. Mccroarty Mccafferty & Company Ltd Accountants and Tax Consultants 2 Carlisle Terrace Derry N Ireland BT48 6JX Date: 8 October 2024 Page 4
Glen Development Initiative (A company limited by guarantee) Statement of Financial Activitios for tho year onded 31 March 2024 Unrestricted Funds Restricted Funds 2024 2023 Income and li xpenditure Incoming Resources Graiits & Sundry Income 34,998 331,383 366,38l 370,893 Total Incoming Resources 34,998 331,383 366,381 370,893 Resources Expended Management & Administration 27,217 331,383 358,600 352,904 Total Resources Ei xpended 27,217 331,383 358,600 352,904 Net Incomlng l (Outgoing) Resources 7,781 7,781 17,989 Balances brouglit forward l April 2023 28,483 28,483 10,494 Balance5 carried forward 31 March 2024 36,264 36,264 28,483 The above amouiits relate to continuing operations of tlie coinpany. The company lias no recognised gains and losses other than those included in the results above and therefore no separate slateinent of total recognised gains and losses has been presented. There is no ditTerence between the net incoming resource5 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 2024 2024 2023 Notes Current assot$ Debtors Casli at baiik and in hand 30,790 59,397 41,180 4,894 90,187 46,074 Current liabilitios Otlier creditors Accruals 48,790 5,133 15,408 2,183 53,923 17,591 Net current Assets 36,264 28,483 Total assets less current 36,264 28,483 Rcserves Unrestricted Rcstrictcd 36,264 28,483 10. 36,264 28,483 Page 6
Glen Development Initiative (A company limited by guarantee) Balance sh¢et (Continued) Dlrectors, statements required by Sections 475(2) and (3) for the year ended 31 March 2024 Iii approving these financial stateinents as directors of the company we hereby confinn: The company was eiititled to exemption from audit under s477 of the Companies Act 2006 relating to small companies. The members liave not required the company to obtain an audit in accordance with section 476 of the Compaiiies Act 2006. The directors acknowledge their responsibilities for coinplying with the requirements of the Companies Act 2006 witli respect to accouiiting records and preparation of accounts. These accounts liave been prepared in accordance with the provisions applicable to small companies subject to the small companies regime and in accordance with FRSI 02 SORP. The accounts have been approved and authorised for Issue by tlie board on 8 October 2024. Dlrector Director MAuQicG O, +L4Wq Reglstratlon No: N1060479 Page 7
Glen Development Initiative (A company limited by guarantee) Notes to the accounts for the year ended 31 March 2024 General information The company is a private company limited by guarantee, registered in Northern Ireland. The address of tlie registered olCe is Glenview Community Centre, Cedar Street, Derry? BT48 OEG. Statement of compliance The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Stateinent of Recommended Practice applicable to charities preparing their accounts in accordance with the financial Reporting Standard applicable in the UK and Republic of Ireland Cliaritie5 SORP (fRS 102), Companies Act 2006 and Cliarities Act (Northern Ireland) 2008. Income (i) Grants Grants represents all ainounts received and receivable during the year. Capital grants are released to the profit and loss account in the yellr in which tliey are re¢eived in liiie with the SORP Accountiiig & Reporting by Charties. Revenue grants are credited to Ilie Statement of Financial Activities in the year they are received. (li) Donalions & administration income. This comprises amounts received during the year. Expcnditure (i) Direct Charitable Expenditure This represents all expenditure directly attributable to charitable Causes. (li) Management & Administration This includes all other expenditure 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) Notes to the accounts for the year ended 31 March 2024 llleomc 2024 2023 Rcstrieted Ineome Department for Communities Derry City & Strabane Council Education Authority PHA Halifax Nl Housing Executive NHIP BIG Lottery Fund StarbuckslHubbab Dormant Accounts Fund Nl Communniiy Restorative Justice Positive Ageing Sinall Grants BHCP Community Garden Success North West Skills 2020 108,524 10,837 48,176 1,956 3,684 99,494 37,487 82,696 5,347 1,650 2,974 1,885 17,862 774 57,098 2,100 29,175 13,916 500 500 54,143 55,023 331,383 304,418 Unrestricted Income Other incoille Unrestricted 34,998 66,475 34,998 66,475 TotAI In¢on)e 366,381 370,893 (i) Restrlcted Funds Funds received wliicli are eannarked by the Funder for specific purposes. Such purposes are within the overall aiins of the organisation. (li) Unrestrlctcd Funds Fuiids whicli are expendable at the discretion of ilie company in furtherance of the aims of the charity. In addition funds may be held in order to finance capital investment and working capital. Page 9
Glen Development Initiative (A company limited by guarantee) Notes to the accounts for the year ended 31 March 2024 Resources Expendcd Unrestricted Funds Restrlcted Funds Total 2024 Total 2023 Managemcnt & Administration Wages & salaries Staff pension costs DCSDC expenses DFC - Expeiises CRJ expenses Halifax expenses Awards for All Expenses Positive Ageing expenses Programme expenses Loltery fund NHIP Expenses EA Expenses Nl Housing Execulive Expenses PHA expenses Party People expenses Starbucks/Hubbub expenses BHCP Comm Garden expenses Motor Running Running expcnses Printing,poslage & stationery Repairs & maintenance Software costs Sundry expenses Accountancy Insurance Bank Charges 1,703 176 191,654 10,980 9,934 15,399 13,916 193,357 11,156 9,934 15,399 13,916 209,879 9,360 35,490 8,706 2,100 85 491 18,978 57,098 774 4.910 491 39,931 57,098 774 4,910 20,953 21,453 17,474 1,619 30,227 2,176 5,347 86 1,956 800 2,100 500 1,956 800 2,100 500 1,091 2,028 16 2,121 245 2,508 2,508 31 ,123 31 1,123 1,893 723 1,977 763 660 1,893 723 27,217 331,383 358,600 352,904 TaxAtlon No charge to taxation is due as the company has cliaritable status. Page 10
Glen Development Initiative (A company limited by guarantee) Notes to the accounts for the year ended 31 March 2024 Staff note Tlie average nuinber of persons employed by tlie company during the year amounted to 12 (2023: 12). The aggregate payroll costs incurred during the year were: 2024 2023 Wages and salaries Pension contributions 193,357 209,879 11,156 9,360 204,513 219,239 Debtors 2024 2023 Grants due Ollier debtors 12,323 18,467 26,190 14,990 30.790 41,180 Current liabilities 2024 2023 Te$ and social security costs Deferred income Accruals 4,315 44,475 5,133 15,408 2,183 53,923 17,591 Page 11
Glen Development Inltiative (A company limited by guarantee) Notes to the accounts for the ycar ended 31 March 2024 10. Movements in Funds At At l April Incoming Outgoing 31 March 2023 resources resources 2024 Rcstrietcd funds: Total restricted funds 331,383 (331,383) Unrestricted funds: Total unrestricted funds 28,483 34,998 (27,217) 36,264 28,483 366,381 (358,600) 36,264 Purposes of Restricted Funds Restricted grants awarded to th¢ cliarity is provided to cover the core objects as explained in directors report. 11. Related Party Transactions There were no related party transactions in the year under review. 12. Limited by Guarantee Tlie company is limited by guarantee and does not have a share capital. 13. Post Balance Sheet evont$ No significant events have taken place since tlie year end tliat would result in adjustments to 2024 financial infomiation or inclusion of a note thereto. Page 12